Rs 2.25 Cr Raised After Stock Split As This Realty Stock Converts 1 Lakh Warrants Into Equity Shares

Hazoor Multi Projects Ltd. announced that their fundraising committee has approved the allotment of 10,00,000 equity shares after the conversion of 1,00,000 warrants. As stated in the company's announcement, the equity shares will be issued at Rs 30 per share, each with a face value of Rs 1, due to the company's recent share split from Rs 10 to Rs 1. This allotment is subsequent to the receipt of Rs 2.25 crore, which denotes the remaining 75% of the warrant issue price, from non-promoter/public category L Rakesh Laroi, who subscribed to the shares on a preference basis.

The previously stated shares already have the same rights as equity shares of the company to which these shares are allotted and will rank pari passu in all respects. Consequently, with this conversion, the issued and paid-up capital of Hazoor Multi Projects now stands at Rs 22.41 crore, consisting of 22.41 crore equity shares of Rs 1 each.
This allocation is within the scope of a larger program for the issuance of warrants. As of now, there are 88,85,200 warrants currently available, which can be converted into equity shares by paying a supplementary fee of Rs 225 per warrant. These warrant holders have a time frame of 18 months from the date of warrant allotment to exercise these conversion rights.

The company's shares have indeed underperformed in the near term as its share price weakened by 15% over the past month and is down 29% year-to-date. The stock, however, has shown incredible returns in the long term. The company's share price increased by 284% in the past two years and increased by 1,676% over the past three years. But the most astonishing is the figure for five years, when the stock saw an increase of 37,730%, which shows that investors have a strong belief in the company's future.

Hazoor Multi Projects, on the other hand, seems to have maintained a stable performance on the financial side. For Q3 FY25, the company registered net sales of Rs 164.87 crore, accompanied by a net profit of Rs 2.72 crore. In the nine months to December 2024, net sales stood at Rs 391.21 crore, and net profit at Rs 23.20 crore. For the financial year FY24, Hazoor Multi Projects had generated revenues of Rs 545 crore and a net profit of Rs 64 crore.

Hazoor Multi Projects Ltd. is a key infrastructure firm headquartered in India that manages and undertakes various multi-civil engineering projects, including the construction of roads and bridges. The company has received accolades for fulfilling the requirements of various projects on time, in a safe, and in a quality-sanctioned manner. The company's highly trained staff, along with its sophisticated machinery, enables it to execute and complete intricate infrastructure projects, thus contributing significantly to the development of the country. The company's sustained endeavours to accumulate resources and invest in other business lines suggest his intentions toward the expansion of the business and the creation of value for stakeholders and shareholders.