Hazoor Multi Projects Ltd: Smallcap Firm Raises Rs 1.10 Crore via Warrant Conversion
Hazoor Multi Projects Ltd, a smallcap company, has successfully raised Rs 1.10 crore by allotting 4,91,000 equity shares following the conversion of 49,100 warrants. The shares were subdivided during the conversion process, and the allotment was made to Dilip Kesharimal Sanklecha and Vaibhav Dimri.
Hazoor Multi Projects LtdWarrant ConversionEquity SharesRenewable EnergyMarket CapReal EstateOct 28, 2025
During the conversion of the warrants, the company's shares were subdivided, i.e., 1 equity share (with a face value of Rs 10 each) was split into 10 equity shares (Re 1 face value). This subdivision was a strategic move to enhance liquidity and attract a broader range of investors.
The shares were allotted to Dilip Kesharimal Sanklecha and Vaibhav Dimri, who belong to the 'Non-Promoters/Public Category'. The allotment was made on a preferential basis. The company stated that the allotment was made after it received the remaining amount of Rs 1,10,47,500 from the allotted shares, which is Rs 225 per warrant (75 per cent of the issue price of the warrant).
Dilip Kesharimal Sanklecha received 3,27,500 equity shares, and Vaibhav Dimri received 1,63,500 equity shares. This strategic distribution of shares is expected to strengthen the company's financial position and support its future growth initiatives.
Meanwhile, the stock started today's trading session in green at Rs 33.47 on the BSE against the previous close of Rs 33. However, it dipped amid profit booking and touched the low of Rs 32.16. Last seen, the stock was trading at Rs 32.95, and the market cap of the company stood at Rs 752.45.
Incorporates New Arm
The company has also incorporated a new arm to undertake power and renewable energy projects. This development comes after the company informed about its plans to set up a 500 MW solar project in Andhra Pradesh at an investment of Rs 2,500 crore, last month, and a 1.2 GW capacity solar park in Solapur, Maharashtra in January.
'...a wholly owned subsidiary in the name of Hazoor New & Renewable Energy Pvt Ltd has been incorporated...and except HMPL no promoter/promoter group/group companies have any interest in the entity,' HMPL said in a regulatory filing.
This strategic move into renewable energy is part of the company's broader vision to diversify its portfolio and tap into the growing demand for sustainable energy solutions. The new subsidiary will focus on developing and implementing projects that align with the company's long-term growth and sustainability goals.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
Frequently Asked Questions
What is the total amount raised by Hazoor Multi Projects Ltd through the share allotment?
Hazoor Multi Projects Ltd raised Rs 1.10 crore through the share allotment following the conversion of warrants.
How many equity shares were allotted, and what was the issue price per share?
4,91,000 equity shares were allotted at an issue price of Rs 30 per share, including a premium of Rs 29.
Who received the allotted shares, and how many shares did each receive?
Dilip Kesharimal Sanklecha received 3,27,500 equity shares, and Vaibhav Dimri received 1,63,500 equity shares.
What is the market cap of Hazoor Multi Projects Ltd as of the latest trading session?
The market cap of Hazoor Multi Projects Ltd stood at Rs 752.45 as of the latest trading session.
What new subsidiary has Hazoor Multi Projects Ltd incorporated, and what is its focus?
Hazoor Multi Projects Ltd has incorporated a new subsidiary named Hazoor New & Renewable Energy Pvt Ltd, which will focus on power and renewable energy projects.
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