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.

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.

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.

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.

Hazoor Multi Projects Limited has successfully completed another significant warrant conversion exercise, further strengthening its capital base through strategic fund-raising initiatives. The company has now executed two major warrant conversion rounds, demonstrating strong investor confidence and participation.

Latest Warrant Conversion Details

The company's fund-raising committee approved the allotment of 1,75,05,050 equity shares through the conversion of 17,50,505 warrants at an issue price of ₹30.00 per share. This latest conversion involved 19 investors from the non-promoter category, maintaining the company's diverse investor base.

Key Investor Participation

The latest warrant conversion attracted significant participation from institutional and individual investors. NAV Capital VCC-NAV Capital Emerging Star Fund emerged as the largest participant, converting warrants for 81,96,500 equity shares, followed by Vineet Arora with 20,00,000 shares and Money Plant Pictures LLP with 25,00,000 shares.

Cumulative Fund-Raising Impact

Combining both warrant conversion exercises, Hazoor Multi Projects has successfully allotted a total of 3,64,16,370 equity shares through the conversion of 36,41,637 warrants. The consistent issue price of ₹30.00 per share across both conversions reflects stable pricing strategy and investor confidence.

Outstanding Warrant Position

Following the completion of these two conversion rounds, the company continues to have outstanding warrants available for conversion. Warrant holders retain the right to convert their remaining warrants into equity shares by paying 75% of the issue price within the stipulated timeframe from the original warrant allotment date.

Regulatory Compliance

The fund-raising committee meeting was conducted in full compliance with SEBI listing regulations, including Regulation 30 requirements and various SEBI circulars. All necessary regulatory disclosures have been made to ensure transparency and adherence to market regulations.