486 Cr Fundraise Plan Gets Green Signal: Small Cap Zooms 357.65% From 52-Week Low

Board of Directors of Small cap company Hazoor Multi Projects Ltd on Friday gave their approval to raise Rs 486 crore via issuance of warrants. The small cap firm stated the funds are expected to be raised through issuance of Rs 1.62 crore warrant convertible into an equal number of equity shares on a preferential basis. The preferential issue offered for Rs 300 per warrant.

Last trading price of Hazoor Multi Projects share on BSE is Rs 389.05 per share with intraday fall of 1.99% as on April 12, 2024. It is interesting to note that Hazoor Multi Projects shares witnessed stunning rally of 357.65% from its 52-week low price of Rs 85.01 per share. More details below:

Hazoor Multi Projects Approves Fundraising: As per the regulatory filing of the company dated April 12, 2024, "to accelerate growth further and to augment the financial resources of the Company through raising of funds, by way of creating, issuing and allotting up to 1,62,00,000 (One Crore and Sixty Two Lakhs only) Fully convertible warrants convertible into equivalent number of fully paid up equity share of the Company having face value of Rs. 10/- (Rupee Ten Only), to the persons belonging to "Non-Promoier, Public Category", as detailed in Annexure-!I, on preferential basis, at an issue price of Rs. 300/- (Rupees Three Hundred only) per warrant, which is higher than the floor price determined."

Hazoor Multi Projects Shares Performance: The 52-week high price of Hazoor Multi Projects shares on BSE is Rs 454.00 per share and 52-week low price is Rs 85.01 apiece. The company's market capitalisation is Rs 725.95 crore. Hazoor Multi Projects shares gained 201% in last 6-months, soared 315% in last 1-year, jumped 1634% in last 2-years, and gained 13,088% in last 3-years. The stock gave eye-popping returns of 34,027% in last 5-years.

Dividend History: Hazoor Multi Projects offered 7 dividends since August 22, 2003. In last 12 months, Hazoor Multi Projects announced an equity dividend amounting to Rs 3.00 per share. At the current share price of Rs 389.0500, Hazoor Multi Projects offers a dividend yield of 0.77%.

About: Hazoor Multi Projects About: It came into existence in 1992. Hazoor Multi Projects Limited is engaged in Infrastructure and Real Estate business. It was initially engaged in construction of residential projects.

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