Hazoor Multi Projects Converts OCDs Worth Rs. 25.00 Crore into Equity Shares of Subsidiary
Hazoor Multi Projects Limited has converted OCDs worth Rs. 25.00 crore into 2.50 crore equity shares of wholly owned subsidiary Square Port Shipyard Private Limited at Rs. 10.00 per share. The subsidiary, incorporated in November 2022, reported turnover of Rs. 68.95 crore and net profit of Rs. 17.98 crore for FY 2024-25. The conversion involves no cash consideration and maintains 100% ownership, with completion expected by February 2026.
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Hazoor Multi Projects Limited has converted its existing investment in Optionally Convertible Debentures (OCDs) of its wholly owned subsidiary into equity shares, maintaining complete ownership control. The conversion was announced on January 27, 2026, in compliance with SEBI Listing Regulations.
Conversion Details
The OCD conversion involves significant financial restructuring within the group structure. The transaction was executed without any cash consideration and represents a settlement of existing debenture obligations.
| Parameter: | Details |
|---|---|
| Shares Converted: | 2.50 crore equity shares |
| Price per Share: | Rs. 10.00 |
| Total Value: | Rs. 25.00 crore |
| Consideration: | No cash involved |
| Completion Timeline: | By February 2026 |
Subsidiary Profile
Square Port Shipyard Private Limited operates as a wholly owned subsidiary engaged in vessel manufacturing and repair services. The company was incorporated on November 29, 2022, with its registered office located in Mumbai.
| Financial Metric: | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|
| Turnover: | Rs. 68.95 crore | Rs. 75.66 crore | Rs. NIL |
| Net Profit: | Rs. 17.98 crore | Rs. 4.39 crore | Rs. 17,990 (Loss) |
Capital Structure
The subsidiary maintains a robust capital structure to support its manufacturing operations. The authorized and paid-up capital reflect the company's operational scale and growth trajectory.
| Capital Component: | Amount |
|---|---|
| Authorized Capital: | Rs. 50.00 crore |
| Paid-up Share Capital: | Rs. 0.15 crore |
Business Operations
Square Port Shipyard Private Limited specializes in comprehensive vessel-related services, covering the entire spectrum of maritime manufacturing and repair operations. The company's business scope includes:
- Manufacturing and repairing of ships, boats, vessels, and tankers
- Construction and maintenance of floating structures
- Development of specialized maritime equipment and components
- Shipping business operations for goods and passenger transportation
Regulatory Compliance
The conversion transaction does not fall within related party transaction categories and requires no governmental or regulatory approvals. The company has fulfilled all disclosure requirements under SEBI Listing Regulations, ensuring complete transparency in the restructuring process.
Following the conversion, Hazoor Multi Projects Limited continues to maintain 100% equity shareholding in Square Port Shipyard Private Limited, with no changes in ownership, control, or management structure of the subsidiary.
Historical Stock Returns for Hazoor Multi Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.54% | -4.36% | -15.94% | -27.59% | -27.59% | -27.59% |
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