02-05-2025
37,700% rally in five years! Multibagger small-cap stock completes fundraise after issuance of equity against warrants
Multibagger small-cap stock: Hazoor Multi Projects today, May 2, announced that the fundraising committee of the company has approved the allotment of 10,00,000 equity shares by conversion of warrants.
The shares are being issued at ₹ 30 per share of the face value of ₹ 1 each. This allotment is pursuant to the conversion of 1,00,000 warrants, originally issued at an issue price of ₹ 300/- per warrant, the company said in a BSE filing today.
These shares are being issued after adjusting the number of shares, paid-up capital per share and premium per share post-subdivision of the nominal value of the Equity Share of the company from 1 equity share of ₹ 10 each to 10 equity shares of ₹ 1/- each.
These shares are being issued to a non-promoter/public category investor, namely, Rakesh Laroia, on a preferential basis, after receiving the balance payment of ₹ 2.25 crore, which is 75% of the warrant issue price (i.e., ₹ 225/- per warrant).
Hazoor Multi Projects added that consequent to today's conversation of warrants/allotment of equity share, the issued and paid-up capital of the company stands increased to ₹ 22.41 crore, consisting of 22.41 crore equity shares of ₹ 1.
The new equity shares so allotted shall rank pari passu with the existing equity shares of the company.
Some 88,85,200 warrants of the multibagger small-cap stock are outstanding for conversion, and these warrant holders are entitled to get their warrants converted into an equal number of equity shares of the company by paying the remaining 75% i.e., Rs. 225/- per warrant, within 18 months from the date of warrant allotment.
Shares of Hazoor Multi Projects have languished in the recent past, even as they have delivered multibagger gains over longer time periods of two years, three years and five years.
Hazoor Multi Projects' share price has lost 15% in a month, while it is down 29% on a year-to-date (YTD) basis. Its one-year price performance is flat, with the stock down just 0.5%.
However, it has risen 284% in the past two years, 1,676% in the past three years and 37,730% in past five years.
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First Published: 2 May 2025, 05:36 PM IST
