Hazoor Multi Projects allots shares from warrant conversions

Hazoor Multi Projects Limited (HMPL) has allotted 491,000 equity shares, each with a face value of Re. 1/- and an issue price of Rs. 30/-, as a result of warrant conversions. This follows the conversion of 49,100 warrants, originally issued at Rs. 300/- each, and adjusted for a sub-division that changed the nominal value of equity shares from Rs. 10/- to Re. 1/-. The company received an aggregate of Rs. 1,10,47,500/- from the allottees, representing 75% of the issue price per warrant.

The allotment was made to two non-promoter/public category investors, Dilip Keshrimal Sanklecha and Vaibhav Dimri, who converted 32,750 and 16,350 warrants, respectively. The funds received for these conversions totaled Rs. 73,68,750/- from Sanklecha and Rs. 36,78,750/- from Dimri. These new equity shares will rank pari-passu with existing shares.

Following this transaction, the issued and paid-up capital of HMPL has increased to Rs. 23,33,39,910/-, comprising 23,33,39,910 equity shares of Re. 1/- each. The company also noted that 7,961,850 warrants remain outstanding for conversion, with holders entitled to convert them into an equal number of equity shares by paying the remaining Rs. 225/- per warrant within 18 months of allotment.