Allotment of 10,00,000 Equity Shares consequent to conversion of warrants of the Company
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Hazoor Multi Projects Ltd has allotted 10,00,000 equity shares (face value Re. 1 each) at Rs. 30 per share, arising from the conversion of 1,00,000 warrants. The warrants were originally issued on June 25, 2024 at Rs. 300 each on a preferential basis, and following the stock split in November 2024, each warrant now converts into 10 equity shares. The company received Rs. 2.25 crore as the balance 75% payment from the allottee, Rakesh Laroia, a non-promoter/public category investor. Post-allotment, the company's paid-up equity capital stands at Rs. 22.41 crore (22,41,06,410 shares), and the allottee now holds 0.45% stake in the company. There are still 88,85,200 warrants outstanding that can be converted into equity shares within 18 months of original allotment.
This is a routine warrant-to-equity conversion that increases the share count by about 0.45% (dilution for existing shareholders is minimal). The company has already received the full conversion money, so there is no fresh capital inflow — just conversion of an instrument already partly paid for. Remaining 88.85 lakh warrants outstanding mean future dilution is possible if holders choose to convert.