Hazoor Multi Projects Ltd Converts Warrants, Expands Equity, and Implements Board Changes

Hazoor Multi Projects Ltd has reported a fresh equity issue after converting part of its outstanding warrants. The move expands share capital, adjusts warrant economics following a stock split, and may support liquidity. At the same time, board composition is changing, and technical indicators show a mixed picture for the stock.

The company’s warrant conversion involves non-promoter investors Seabird Leasing & Finvest Pvt Ltd, Sarita Agarwal, and Nirmal Gupta. These investors have paid the remaining 75% on 1,28,000 warrants, contributing Rs 2.88 crore. Each warrant now converts into 10 equity shares, priced at Rs 30 per share with a face value of Re 1.

Following this conversion, Hazoor Multi Projects Ltd has allotted 12,80,000 new equity shares. These shares carry a face value of Re 1 and an issue price of Rs 30. The company states that the new shares rank equally with the existing equity. The structure aims to improve share affordability and depth in the market.

The company’s paid-up capital now stands at Rs 23.69 crore, representing 23,69,39,910 equity shares. This change reflects the impact of an earlier stock split, where each Rs 10 share became 10 shares of Re 1. The split increased the share count and led to revised conversion terms for outstanding warrants.

Even after the latest issue, Hazoor Multi Projects Ltd still has 76,01,850 warrants outstanding. These instruments may convert into equity if exercised within the permitted 18-month window. If fully exercised, they would further increase the free float and alter ownership patterns, especially among non-promoter investors.

Hazoor Multi Projects Ltd has also informed stock exchanges about a board-level change effective 10 December 2025. Mr. Mukund Shriniwasrao Bilolikar (DIN: 08617648) has resigned from the role of Independent Director. The company cites the resignation letter and professional commitments as the stated reasons for this decision.

With Mr. Mukund Shriniwasrao Bilolikar stepping down, Hazoor Multi Projects Ltd has seen a notable shift in its board committee composition. The former Independent Director no longer serves on the Audit Committee, Nomination & Remuneration Committee, or Stakeholders Relationship Committee. These vacancies may prompt further governance updates in the coming months.

Hazoor Multi Projects Ltd stock performance and valuation metrics

Technical signals for Hazoor Multi Projects Ltd, based on Trendlyne’s end-of-day data, suggest a mixed trend. The Money Flow Index stands at 79.4, pointing to an overbought zone. In contrast, the Relative Strength Index is in the middle band, which indicates neutral price momentum at present.

The share price of Hazoor Multi Projects Ltd trades above its 50-day Simple Moving Average of 35.6. However, it remains below the 200-day Simple Moving Average of 40.5, hinting at a longer-term downtrend despite short-term support. The stock is currently 36.68% below its 52-week high, while its beta reflects very high volatility.

Trendlyne currently tags Hazoor Multi Projects Ltd as "Await Turnaround", citing mid-range but weak overall financial metrics. The company, active in real estate and infrastructure, trades at a Price-to-Earnings ratio of 37 and a Price-to-Book ratio of 3.6. The stock’s market capitalisation stands at Rs 863.5 crore.

Sector-level institutional holding is high at 24.7%, yet Hazoor Multi Projects Ltd shows a low Piotroski Score of 2 and a weak financial strength score. For investors following the stock, the recent equity conversion, board changes, and current technical and valuation data offer several factors to track when assessing future performance.