Allotment of 3,27,500 Equity shares consequent to conversion of warrants of the Company.
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Hazoor Multi Projects Limited has allotted 3,27,500 equity shares (face value Re. 1 each) at an issue price of Rs. 30 per share (including Rs. 29 premium) to one non-promoter allottee, Venkatraman Subramanian, upon conversion of 32,750 warrants. The conversion ratio reflects a prior stock split from Rs. 10 face value to Re. 1 (1:10). The company received Rs. 73,68,750 (Rs. 225 per warrant, being 75% of the warrant issue price of Rs. 300) as the balance conversion amount. Following this allotment, the allottee holds 3,27,500 shares, representing 0.15% post-issue equity. The company's paid-up capital has risen to Rs. 22,44,33,910 (22,44,33,910 shares of Re. 1 each). Additionally, 88,52,450 warrants remain outstanding for future conversion within the 18-month window from original warrant allotment date of June 25, 2024.
This is a minor dilution event for existing shareholders (~0.15% increase in share count from this tranche), with more potential dilution pending from the 88.5 lakh warrants still outstanding. The Rs. 73.7 lakh inflow strengthens the company's cash position marginally, but the small scale means limited direct impact on share price.