Hazoor Multi Projects Limited has completed a significant warrant conversion exercise, allotting 27,96,670 equity shares to seven non-promoter investors. The fund-raising committee approved the allotment during their meeting.

Warrant Conversion Details

The conversion involved 2.8 lakh warrants. The allotment parameters are detailed below:

Investor Participation

Seven non-promoter investors participated in the warrant conversion exercise.

Capital Structure Impact

Following the warrant conversion and equity allotment, Hazoor Multi Projects' capital structure has been strengthened. The newly allotted shares rank pari-passu with existing equity shares, providing equal rights to the new shareholders.

Regulatory Compliance

The warrant conversion was executed in accordance with SEBI (ICDR) Regulations, 2018, and the disclosure was made under Regulation 30 of SEBI Listing Regulations.

Hazoor Multi Projects Limited has successfully completed the allotment of 37,35,440 equity shares following warrant conversion by eight investors. The fund-raising committee meeting approved the conversion of 3,73,544 warrants into equity shares.

Warrant Conversion Details

The conversion involved warrants originally issued at ₹300 each, with the current conversion resulting in equity shares at ₹30 each after adjusting for the stock subdivision. The company received ₹8,40,47,400 as balance payment from warrant holders at ₹225 per warrant, representing 75% of the original issue price.

Investor Participation

Eight investors from the non-promoter/public category participated in the warrant conversion under the preferential allotment basis. The conversion was executed in accordance with SEBI (ICDR) Regulations, 2018.

Impact on Share Capital

Following the warrant conversion and equity share allotment, the company's issued and paid-up capital has increased significantly. The new equity shares rank pari-passu with existing equity shares of the company.

Outstanding Warrants

The company disclosed that 72,28,306 warrants remain outstanding for conversion. These warrant holders retain the right to convert their warrants into an equal number of equity shares by paying the remaining 75% amount of ₹225 per warrant within 18 months from the original allotment date.

Stock Subdivision Impact

The warrant conversion reflects the impact of the stock subdivision, where each equity share of ₹10 face value was subdivided into 10 equity shares of ₹1 each. This subdivision adjusted the conversion ratio, allowing warrant holders to receive 10 shares for each warrant converted instead of the original one-to-one ratio.