After 10:1 Stock Split DIIs Picks Up Stake In This Realty Stock; Do You Own?

Hazoor Multi Projects said Tuesday that the company's fund-raising committee, among other things, discussed and approved the allocation of 1,31,000 equity shares with a face value of Re. 1 each at an issue price of Rs. 30 each, plus a premium of Rs. 29 each. This was done after 13,100 warrants were converted at an issue price of Rs. 300 each. The meeting took place on Tuesday, April 15, 2025. Following the division of the nominal value of the company's equity shares from one equity share of Rs. 10/-each to ten equity shares of Re. 1/-each, to "Non-Promoters/Public Category," on a preferential basis. The move was carried out after adjusting the number of shares, paid-up capital per share, and premium per share. This was done after receiving the remaining sum of Rs. 29,47,500 /- at the rate of Rs. 225/-per warrant.

In recent news, the board of directors at Hazoor Multi Projects revealed the transfer of 22,22,220 equity shares at an amount of Rs 30 each due to the conversion of warrants. The measurement of face value was done and the value changed to one. This change emerged from 2,22,222 warrants originally bought for 300 and were split in a tenfold measure effective 07/11/2024. The warrants allow an issuing company to raise its capital whereby West Midlands Ventures Pvt. Other than the promoters were paid 75% of the paid warrant and came in as a new allottee meaning Rs 225 for every warrant. This development raised the paid-up capital of the company to 21.09 crore whose paid-up capital consisted of 21,09,52,680 equity shares.

Remember that regulatory filings report that Hazoor Multi Projects has 1,02,00,573 warrants which are eligible for being converted into equity shares during the period of the next 18 months. The shares of the Company have also been listed ex-split with a 10:1 stock split that turned shares of Rs 10 face value into ten shares of Re 1 effective November 07, 2024.

Hazoor Multi Projects is making progress in infrastructure and development of highways. The firm has entered into a merger with Square Port Shipyard Private Limited with an aim to capitalize on the synergies and add more value to the stakeholders and has received necessary approvals on this transaction. Further to this, the firm won two contracts with the National Highways Authority of India (NHAI) whereby fee collection from users and collection of maintenance services on highways was involved, the contracts totalling Rs 20.53 crore.

Highlights of the company's finances indicate that the company has managed to withhold and even further extend its growth potential in tough conditions. For Q2FY25, for instance, net sales increased four-fold by 118% to Rs 153.08 crore and net profit grew by 17% to touch Rs 11.02 crore from Rs 9.43 billion registered in Q2FY24. On the other hand, in H1FY25, the indicator net turnover amounted to 225.16 crore. Thus, net turnover decreased by 59%. Whereas net profit decreased by 68% compared to H2FY24 and amounted to 20.48 crore.

Hazoor Multi Projects Ltd. was established in 1992 and it has diversified its activities from the construction of residential buildings to become a subcontractor of national highway projects. Working with government organizations like the Maharashtra State Road Development Corporation and National Highway Authority of India (NHAI), the Company has also entered into the EPC (Engineering, Procurement and Construction) contracting business which demonstrates its commitment to enhancing the infrastructure in India.
With its strategic initiatives and robust project pipeline Hazoor Multi Projects seems to be set to consolidate its role as a major infrastructure player.