Realty Stock Hit 5% Upper Circuit On Announcing New Secretary & Compliance Officer

With a market valuation of Rs 573.04 Cr, Hazoor Multi Projects is a small-cap company in the real estate industry. Today, the stock began trading on the BSE at Rs 379.70 a share, with a 5% upper circuit limit, following the announcement of the company's new secretary and compliance officer.

On August 9, 2023, Hazoor Multi Projects announced that it had received a resignation letter from Mr. Bhavesh Ramesh Pandya, dated August 2, 2023. The following day, August 3, 2023, the company notified exchange of the upcoming Board Meeting of Directors, which would take place on August 9, 2023, to discuss and approve the resignation of Mr. Bhavesh Kumar Pandya and the appointment of Mr. Swaminath Chhotelal Jaiswar as the company secretary & compliance officer, among other agenda items.

On August 9, 2023, Mr. Bhavesh Ramesh Pandya submitted his resignation, which was accepted by the board and sent to Exchange along with a resignation letter. Following receipt of funds totalling Rs. 62.30 Cr at a rate of Rs. 178 per equity share, the Board of Directors of the Company met on Thursday, February 01, 2024, and decided to allocate 35 lakh equity shares, on a preferential basis, to the members of the non-promoter, public category. The equity shares have a face value of Rs. 10/-each, and the issue price is Rs. 178 per equity share, plus a premium of Rs. 168 per equity share for cash consideration.

India's Hazoor Multi Projects Limited (HMPL) is an infrastructure and real estate firm. Its head office is in Mumbai, where it was established in 1992. HMPL is a small-cap firm with a Rs 575 Cr market capitalization.