Hazoor Multi Projects Converts Debentures into Equity in Square Port Shipyard Private Limited While Maintaining Full Ownership

Hazoor Multi Projects Limited has informed the stock exchanges that it has turned its existing Optionally Convertible Debentures in Square Port Shipyard Private Limited into equity. The move converts debt into share capital of the fully owned subsidiary, with Hazoor Multi Projects Limited receiving 2.50 crore equity shares in Square Port Shipyard Private Limited without any cash payout.

After this internal restructuring, Hazoor Multi Projects Limited continues to own 100 per cent of Square Port Shipyard Private Limited. The company has stated that the shift from debentures to equity does not alter the subsidiary’s control, ownership, or management structure. Square Port Shipyard Private Limited therefore remains a wholly owned subsidiary under Hazoor Multi Projects Limited.

The company has assessed the acquisition value for the conversion at Rs 25 crore, based on a price of Rs 10 per equity share. The transaction has been executed by settling the existing debt obligation linked to the Optionally Convertible Debentures and by reinforcing the capital base of the shipyard unit, instead of deploying fresh cash from Hazoor Multi Projects Limited.

According to the disclosure, the company has confirmed that the conversion complies with all regulations governing the Optionally Convertible Debentures. No approvals from government or regulatory bodies are required for this step, and the company has also clarified that the restructuring is not categorised as a related party transaction. The overall conversion process is expected to reach formal completion by February 2026.

Square Port Shipyard Private Limited was incorporated on November 29, 2022 and operates in shipbuilding and marine services. Its activities include manufacturing and maintaining vessels and handling other maritime-related assignments. The subsidiary has delivered strong operating numbers in the financial year 2024-2025, reporting sales of Rs 68.95 crore and net profit of Rs 17.98 crore, reflecting healthy margins for Hazoor Multi Projects Limited.

In the previous financial year 2023-2024, the shipyard subsidiary of Hazoor Multi Projects Limited had posted revenue of Rs 75.66 crore and profit of Rs 4.39 crore. The shift in sales and profits across the two financial years indicates ongoing operational activity and suggests improving profitability, despite the year-on-year variation in topline turnover at Square Port Shipyard Private Limited.

On the equity market side, the share price of Hazoor Multi Projects Limited (BOM: 532467) closed at Rs 30.27 on January 28, 2026. This represented a decline of 0.36 per cent from the previous closing level of Rs 30.38. During that trading session, the stock moved between an intraday low of Rs 30.05 and a high of Rs 31.40 on the BSE.

Over the last twelve months, shares of Hazoor Multi Projects Limited have traded in a broad range, with a 52-week low of Rs 26.80 and a 52-week high of Rs 56.50. The data below summarises the latest available price information for Hazoor Multi Projects Limited as of January 28, 2026.

Company	Hazoor Multi Projects Ltd.
BSE Code	532467
Close (28 Jan 2026)	Rs 30.27
Previous Close	Rs 30.38
Change	-0.36%
Intraday High	Rs 31.40
Intraday Low	Rs 30.05
52-week High	Rs 56.50
52-week Low	Rs 26.80

Hazoor Multi Projects Limited, established in 1992 and based in Mumbai, focuses on infrastructure development. The company undertakes real estate activities, Engineering, Procurement, and Construction contracts, and road construction assignments. It also works as a contractor on large-scale infrastructure projects involving Maharashtra State Road Development Corporation and National Highways Authority of India, which anchor its core business profile.

The debt-to-equity conversion at Square Port Shipyard Private Limited strengthens the subsidiary’s capital structure while maintaining full ownership under Hazoor Multi Projects Limited. Together with the recent financial performance of the shipyard unit and the current trading range of the listed parent, investors receive a clearer view of group capital allocation and balance sheet positioning.