Hazoor Multi Projects Hits 5% Upper Circuit As Mauritius-Based FII Buys Stake

Hazoor Multi Projects shares opened today on a 5% upper circuit at Rs 245.60 apiece after Mauritius-based FIIs stake in this multibagger stock. Hazoor Multi Projects is one of the multibagger stocks that Dalal Street has produced in recent times as the scrip has 237.50% so far in 2023 on a YTD basis. As per the latest exchange filing by the small-cap stock, the share allotment committee of the company has declared a preferential issue of Rs. 9790 Lacs.

Hazoor Multi Projects News

"To accelerate growth further and to augment the financial resources of the Company through raising of funds, aggregating amount of up to Rs. 97,90,00,000/- (Rupees Ninety Seven Crores and Ninety Lakhs Only), by way of creating, issuing and allotting up to 55,00,000 (Fifty Lakhs only) Equity Share having face value of Rs.10/- each, to the persons belonging to 'Non-Promoter, Public Category', as detailed in Annexure-l, on preferential basis, at an issue price higher than the floor price determined in accordance with the provision of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), payable in cash, in accordance with the provisions of Section 42 and Section 62(1)(c) of the Companies Act, 2013, as amended ("Act") read with Companies (Prospectus and Allotment of Securities) Rules, 2014, and Companies (Share Capital and Debentures) Rules, 2014 as amended ("Rules"), Chapter V of SEBI ICDR Regulations, in such manner and on such terms and conditions as determined by the Board in its absolute discretion in accordance with the SEBI ICDR Regulations and other applicable laws subject to approval of shareholders and other regulatory authorities, as may be applicable," said the company in a stock exchange filing.

"Convening an Extra Ordinary General Meeting of the company decided to seek approval of the shareholders of the Company through an Extraordinary General Meeting ("EGM") to be held on Tuesday, 02nd January, 2024 and approved draft notice of the EGM, appointment of Scrutinizer and matters related thereto. The notice of the said EGM will be sent separately to the Stock Exchange(s) and to the Members of the Company and will also be available on the Company's website at www hazoormultiproject.com and on the website of the stock exchange(s) i.e. BSE Limited at www.bseindia.com, in due course," Hazoor Multi Projects in a regulatory filing.

Hazoor Multi Projects Preferential Share Allotment

As per the latest exchange filing by Hazoor Multi Projects, the board of directors of the company has allotted 20,00,000 company shares to Amicorp Capital (Mauritius) Limited a Mauritius-based foreign institutional investor (FII). The Mauritius-based FIIs had applied for the preferential offer of the company. Furthermore, the company has allotted 5,50,000 shares to Vespera Fund Limited, 5,00,000 shares to Aries Opportunities Fund Limited (FPI/FII ) and Elara India Opportunities Fund (FPI/FII) and 2,50,000 shares to Kiftar IN LLC (FPI/FII) on a preferential issue basis.