Allotment of 12,50,000 Equity shares consequent to conversion of warrant into Equity
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Hazoor Multi Projects has allotted 12,50,000 equity shares (face value Re. 1 each) at Rs. 30 per share to Seabird Leasing And Finvest Private Limited, a non-promoter/public category investor. These shares were issued upon conversion of 1,25,000 warrants (originally priced at Rs. 300 per warrant), with the company receiving Rs. 2.81 crore as the balance 75% payment. The warrant-to-equity conversion ratio changed to 1:10 following a prior stock split from Rs. 10 face value to Re. 1 face value. After this allotment, the company's paid-up equity capital stands at Rs. 23.28 crore (23.28 crore shares of Re. 1 each), and the allottee now holds 20,50,000 shares or 0.88% of the company.
This is a small dilution event adding one public-category shareholder at under 1% stake. Shareholders should note that 80,10,950 warrants are still pending conversion, which could lead to further equity dilution if exercised.