After Stock Split, This Realty Stock Executes Big Equity Expansion Move By Issuing 37.35 Lakh New Shares

In accordance with the conversion of 3,73,544 warrants on a preferential basis to non-promoters/public category investors, Hazoor Multi Projects Limited (HMPL) has notified the stock exchanges that its fund-raising committee approved the issuance of 37,35,440 fully paid-up equity shares of face value Re. 1 each at an effective issue price of Rs. 30 per share, including a premium of Rs. 29. These warrants were initially granted for Rs. 300 each, of which 25% was paid in advance. The remaining 75%, or Rs. 225 each warrant, totalling Rs. 8.40 crore, was now received upon conversion.

The conversion represents adjustments made following the subdivision of the company's equity shares from Rs. 10 to Rs. 1 apiece, wherein the holder of one warrant was entitled to ten equity shares. Eight investors in all, with varying numbers of warrants exercised, took part in the conversion: V Cats Consultancy LLP, Piyush Gupta, Akshay Arora, Trading IDEA, Amar Vijaykumar Agrawal, Ajay Vijaykumar Agrawal, Simple Amar Agrawal, and Deepak Bhansali.

After this allotment, HMPL's issued and paid-up equity share capital, which consists of 24,06,75,350 equity shares at Re. 1 apiece, has grown to Rs. 24.06 crore.

The newly allotted shares will rank pari passu with the existing equity shares of the company. According to SEBI regulations, the company also revealed that 72,28,306 warrants remain outstanding for conversion within the allotted 18-month timeframe.

With a market value of about Rs 860 Cr, Hazoor Multi Projects Ltd. is a small-cap real estate and infrastructure firm. According to ticker.finology.in, the company has shown remarkable long-term growth with a three-year revenue CAGR of 51.94% and a profit growth rate of 78.39%. However, it currently faces a number of financial challenges, such as a negative operating cash flow of Rs 49.46 crore and significant contingent liabilities exceeding Rs 355 crore. The stock appears to be at a high price in comparison to its rivals, with a P/E ratio of around 46.44.

In spite of these obstacles, the firm has been able to maintain a high Interest Coverage Ratio and has recently been aggressive in growing its portfolio, obtaining noteworthy letters of award from organizations such as Oil India and NHAI, and strategically entering the renewable energy industry. Investors should take note of the company's recent corporate moves, such as a face value split from Rs 10 to Rs 1 in late 2024, and its comparatively low promoter stake of 17.59% during the quarter ended in September 2025.

Founded in 1992, Hazoor Multi Projects Ltd. is a Mumbai-based real estate and infrastructure firm that is listed on the BSE.