Realty Stock Issues 12.5 Lakh Equity Shares To Non-Promoter Investor; Raises Rs 2.81 Cr

The Fund-Raising Committee of Hazoor Multi Projects Limited (HMPL) recently approved the preferential allotment of 12,50,000 equity shares of face value Re. 1 each to non-promoter entities Seabird Leasing and Finvest Private Limited at an issue price of Rs 30 per share, plus a premium of Rs 29.

The allotment follows the conversion of 1,25,000 warrants issued earlier at Rs 300 each, adjusted after the company's stock split from Rs 10 to Re. 1 face value, as per a regulatory filing.

For this conversion, the allottee gave HMPL the balance in the amount of Rs 2.81 crore, or 75% of the issue price per warrant. Following the allotment, the company's paid-up share capital, which consists of 23,28,48,910 equity shares, has grown to Rs 23.28 crore. The newly issued shares rank pari passu with existing equity shares, as per a regulatory filing.

The company also revealed that there are still 80,10,950 outstanding warrants that, by paying the remaining Rs 225 per warrant, can be converted into equity shares within 18 months after their initial allotment.

The plan to offer and distribute 7,00,33,000 fully convertible warrants at a rate of Rs 54.80 apiece to non-promoter, public category investors was withdrawn by Hazoor Multi Projects Limited earlier on October 4.

This proposal was previously approved by the firm at its February 21, 2025, Extraordinary General Meeting. However, due to delays in receiving essential regulatory clearances and continuing market volatility that generated a mismatch between the planned issue price and the company's actual market value, the management opted to withdraw the application. The company underlined that this action would not affect its operations, growth prospects, or financial stability, and the BSE has approved the withdrawal.

The company, meanwhile, authorized the allotment of 4,91,000 equity shares of face value Re. 1 each at an issue price of Rs. 30 per share, including a premium of Rs. 29 per share, according to the findings of Hazoor Multi Projects Limited's Fund-Raising Committee meeting on October 28, 2025. After taking into consideration the stock split that lowered the nominal value of equity shares from Rs. 10 to Re. 1, the allotment comes after the conversion of 49,100 warrants that were initially issued at a price of Rs. 300 per warrant.

After the company received the remaining payment of Rs. 1,10,47,500, or 75% of the issue price per warrant, the conversion was completed. The warrants were converted on a preferential basis to two non-promoter investors - Dilip Keshrimal Sanklecha, who was allotted 3,27,500 equity shares, and Vaibhav Dimri, who received 1,63,500 equity shares. Hazoor Multi Projects' paid-up share capital increased to Rs. 23,33,39,910 after this conversion, which is divided into 23,33,39,910 equity shares of Re. 1 each. The newly allocated shares will be ranked on par with the company's current equity shares.

Furthermore, 79,61,850 warrants are still available for conversion; holders of these warrants may convert them into an equivalent number of equity shares by paying the remaining 75% of the issue price within 18 months of the warrant allotment date.

Financially speaking, Hazoor Multi Projects recorded a net loss of Rs 9.93 crore in the September 2025 quarter compared to a net profit of Rs 11.02 crore in the September 2024 quarter. In Q2FY26, sales fell 33.30% to Rs 102.11 crore, compared to Rs 153.08 crore in Q2FY25.

Following the conversion of 1,00,000 warrants granted previously at Rs 300 each, Hazoor Multi Projects Limited has stated that its fund-raising committee authorized the allocation of 10,00,000 equity shares at an issue price of Rs 30 per share during a meeting on November 17, 2025. After the company received the remaining 75% payment (Rs 225 per warrant), totalling Rs 2.25 crore, from the allottee, Kumar Agrawal, who now owns 30,00,000 equity shares post-allotment, the conversion was finished.

This conversion comes after the company's stock split from a face value of Rs 10 to Re.1, enabling each warrant to convert into 10 equity shares.

Hazoor's paid-up capital has grown to Rs 23,43,39,910 as a result of this allocation, and all newly issued shares will rank equally with existing shares. Additionally, the company stated that 78,61,850 warrants are still outstanding and can be converted within their 18-month validity term.

Founded in 1992, Hazoor Multi Projects Ltd. is a real estate and infrastructure development firm that specializes in residential and road building projects. In addition to building residential properties like flats and bungalows in places like Pune and the vicinity of Lonavala, the firm works as an EPC (Engineering, Procurement, and Construction) contractor, mostly on national highway projects for government entities.