NewsCorporate ActionsHazoor Multi Projects Allots 82.47 Lakh Equity Shares Following Warrant ConversionHazoor Multi Projects Allots 82.47 Lakh Equity Shares Following Warrant Conversion
Hazoor Multi Projects Limited has allotted 82,47,770 equity shares at ₹30 per share following the conversion of 8,24,777 warrants by nine non-promoter investors. The company received ₹18.56 crore as the balance payment for the warrants. Minerva Venture Fund Limited converted the largest number of warrants, resulting in 60 lakh shares. The company's paid-up capital has increased to ₹25.17 crore post-allotment. 61,23,862 warrants remain outstanding for future conversion.
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Hazoor Multi Projects Limited has successfully completed the allotment of 82,47,770 equity shares following the conversion of warrants by nine investors. The fund-raising committee approved the allotment on December 22, 2025, marking a significant capital raising milestone for the company.
Share Allotment Details
The company allotted equity shares with a face value of ₹1.00 each at an issue price of ₹30.00 per share, including a premium of ₹29.00 per share. The allotment resulted from the conversion of 8,24,777 warrants that were originally issued at ₹300.00 each. The warrant holders paid the balance amount of ₹18,55,74,825 at ₹225.00 per warrant, representing 75% of the original issue price.
| Parameter | Details |
|---|---|
| Equity Shares Allotted | 82,47,770 |
| Face Value per Share | ₹1.00 |
| Issue Price per Share | ₹30.00 |
| Premium per Share | ₹29.00 |
| Warrants Converted | 8,24,777 |
| Balance Amount Received | ₹18,55,74,825 |
Investor Participation
Nine investors from the non-promoter/public category participated in the warrant conversion under the preferential allotment. The major participants included Minerva Venture Fund Limited with the largest conversion of 6,00,000 warrants into 60,00,000 equity shares, and Rita Chadha converting 90,000 warrants into 9,00,000 equity shares.
| Investor Name | Warrants Converted | Equity Shares Allotted | Amount Received (₹) |
|---|---|---|---|
| Archit Garg | 50,000 | 5,00,000 | 1,12,50,000 |
| Minerva Venture Fund Limited | 6,00,000 | 60,00,000 | 13,50,00,000 |
| Deepak Bhansali HUF | 15,000 | 1,50,000 | 33,75,000 |
| Rita Chadha | 90,000 | 9,00,000 | 2,02,50,000 |
| Kshma Jaswant Shah | 13,333 | 1,33,330 | 29,99,925 |
| Ashish Choudhary | 13,000 | 1,30,000 | 29,25,000 |
| Pratham Mittal | 4,000 | 40,000 | 9,00,000 |
| Donald Venture Private Limited | 26,444 | 2,64,440 | 59,49,900 |
| Vanita Goel | 13,000 | 1,30,000 | 29,25,000 |
Impact on Share Capital
Following the warrant conversion and share allotment, the company's issued and paid-up capital increased to ₹25,17,19,790, consisting of 25,17,19,790 equity shares of ₹1.00 each. The newly allotted equity shares rank pari-passu with the existing equity shares of the company, providing equal rights and privileges to the new shareholders.
Outstanding Warrants
The company disclosed that 61,23,862 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% of the issue price at ₹225.00 per warrant within 18 months from the original allotment date of June 25, 2024.
Stock Split Impact
The warrant conversion benefited from a stock split implemented with effect from November 7, 2024. The subdivision changed the nominal value of equity shares from ₹10.00 each to ₹1.00 each, effectively splitting each share into 10 shares. This adjustment allowed each warrant to convert into 10 equity shares instead of the original one-to-one conversion ratio, significantly increasing the number of shares allotted to warrant holders.
Historical Stock Returns for Hazoor Multi Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +8.79% | +6.04% | +11.65% | +1.85% | -20.86% | +16,856.52% |
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