Hazoor Multi Projects converts 3.74L warrants
Hazoor Multi Projects Limited has allotted 37,35,440 equity shares following the conversion of 3,73,544 warrants by eight non-promoter investors. The company received ₹8.40 crores as balance payment for the conversion. The warrants were originally issued at ₹300 each, with the current conversion resulting in equity shares at ₹30 each after a stock subdivision. Following this allotment, the company's paid-up capital has increased to ₹24,06,75,350. There are still 72,28,306 warrants outstanding for potential future conversion.
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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.
| Parameter | Details |
|---|---|
| Warrants Converted | 3,73,544 |
| Equity Shares Allotted | 37,35,440 |
| Face Value per Share | ₹1.00 |
| Issue Price per Share | ₹30.00 |
| Premium per Share | ₹29.00 |
| Total Amount Received | ₹8.40 crores |
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.
| Investor Name | Warrants Converted | Equity Shares Allotted | Amount Received (₹) |
|---|---|---|---|
| VCats Consultancy LLP | 1,00,000 | 10,00,000 | 2,25,00,000 |
| Piyush Gupta | 29,333 | 2,93,330 | 65,99,925 |
| Akshay Arora | 13,100 | 1,31,000 | 29,47,500 |
| Trading IDEA | 10,000 | 1,00,000 | 22,50,000 |
| Amar Vijaykumar Agrawal | 70,000 | 7,00,000 | 1,57,50,000 |
| Ajay Vijaykumar Agrawal | 70,000 | 7,00,000 | 1,57,50,000 |
| Simple Amar Agrawal | 70,000 | 7,00,000 | 1,57,50,000 |
| Deepak Bhansali | 11,111 | 1,11,110 | 24,99,975 |
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.
| Capital Structure | Amount |
|---|---|
| Updated Paid-up Capital | ₹24,06,75,350 |
| Total Equity Shares | 24,06,75,350 |
| Face Value per Share | ₹1.00 |
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.
Historical Stock Returns for Hazoor Multi Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.23% | +0.08% | +22.61% | -6.77% | -29.70% | +15,445.83% |
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