Hazoor Multi Projects allots 1,31,000 shares upon warrants’ conversion, check details

Hazoor Multi Projects Limited (HMPL) approved the allotment of 1,31,000 equity shares. In an exchange filing, the company said that the fundraising company has approved the conversion of equity shares having a face value of Re 1 each at an issue price of Rs 30 each (including a premium of Rs 29 each), upon the conversion of 13,100 warrants.

“… approved the allotment of 1,31,000 equity shares having face value of Re. 1/- each at an issue price of
Rs. 30/- each (including a premium of Rs. 29/- each), consequent upon the conversion of 13,100 Warrants issued at an Issue Price of Rs. 300/-each, after adjusting the number of shares, paid-up capital per share and premium per share post sub-division of nominal value of the Equity Share of the Company from 1 Equity Share of Rs. 10/- each to 10 Equity Sharesof Re. 1/- each,” the company said in an exchange filing.

According to the information available, the shares have allotted on a preferential basis, upon receipt of balance amount aggregating to Rs 29,47,500 at the rate of Rs 225 per warrant (being 75 per cent of the issue price per warrant) from the allottees pursuant to the exercise of their rights of conversion into equity shares.

Meanwhile, the stock started the session flat at Rs 49.34. It gained and hit an intraday high of Rs 50.95 on the BSE before falling to an intraday low of Rs 47.60. Last seen, the counter was trading at Rs 47.88. This is a fall of 2.96 per cent from the previous close of Rs 49.34.

On technical parameters, the counter is trading higher than 5-day, 20-day, 50-day and 200-day moving averages but lower than 100-day moving averages. The 52-week high of the scrip is Rs 63.90 and the 52-week low is Rs 32. Earlier, the company secured a Rs 102 crore order to provide steel works in Maharashtra.

The project has been awarded by Venkatesh Infra Projects and will be executed in six months, the company said in a statement on Sunday. Before this, it bagged a new work order from the National Highways Authority of India (NHAI).

News