Hazoor Multi Projects allots shares from warrant conversion

Hazoor Multi Projects Limited's fund-raising committee approved the allotment of 189,113,200 equity shares, each with a face value of Re. 1 and an issue price of Rs. 30. This allotment results from the conversion of 18,911,320 warrants, initially issued at Rs. 300 each, to non-promoter/public category investors. The conversion, which followed a stock split from Re. 10 to Re. 1 equity shares, generated Rs. 425,504,700 for the company.

The warrants were converted at a rate of Rs. 225 per warrant, representing 75% of the issue price. This transaction increased the company's issued and paid-up capital to Rs. 270,631,110, now comprising 270,631,110 equity shares of Re. 1 each. Following the conversion, 3,377,800 warrants remain outstanding, which, upon conversion, will lead to an additional 33,778,000 equity shares.