HMPL Shares Rise as Subsidiary OCDs Converted to Equity: No Change in Ownership

Mumbai: Shares of Hazoor Multi Projects Ltd (HMPL), an infra-to-energy player, gained on January 28, 2026. The rise in the stock was driven by the company's announcement to the exchanges regarding the conversion of its investment in its wholly-owned subsidiary, Square Port Shipyard Private Limited (SPSPL), from Optionally Convertible Debentures (OCDs) into equity shares.

The surge in the stock also coincided with a positive day for the equity benchmark indices Sensex and Nifty. The 30-share BSE Sensex jumped 646.49 points to 82,503.97 during initial trade, while the 50-share NSE Nifty surged 196.7 points to 25,372.10. This rally was fueled by optimism over the India-EU Free Trade Agreement (FTA).

In an exchange filing, HMPL stated that it has converted its existing investment in SPSPL from OCDs into equity shares. According to the terms of the debentures, 2.50 crore equity shares were allotted to the company at a price of Rs 10 per share. The conversion was done to settle the existing debenture obligation and did not involve any cash consideration.

Even after this conversion, SPSPL will continue to be a 100 per cent subsidiary of HMPL, and there will be no change in its ownership, control, or management.

The stock began the trading session in green at Rs 30.85 against the previous close of Rs 30.38 on the BSE. During the day, it reached an intraday high of Rs 31.40 and an intraday low of Rs 30.05. By the end of the session, the stock was trading at Rs 30.50, with the company's market cap standing at Rs 710.13 crore.

Earlier, HMPL secured two work orders from the National Highways Authority of India (NHAI) worth around Rs 277 crore. These projects were secured through the e-tender process, and the company informed the exchanges about the development.

Hazoor Multi Projects Ltd (HMPL) is a diversified company with operations spanning infrastructure, energy, and shipbuilding. The company has a strong presence in various sectors and is known for its robust project execution capabilities. The recent conversion of OCDs into equity shares and the securing of significant NHAI projects underscore HMPL's strategic initiatives to strengthen its financial position and expand its portfolio.

This article is for informational purposes only and should not be construed as investment, financial, or other advice.