Board approves 3.67% stake sale in subsidiary SPSPL for about Rs 1.17 crore
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Hazoor Multi Projects board approved selling 5,500 equity shares, about 3.67 percent stake, in its wholly owned subsidiary Square Port Shipyard Pvt Ltd to Master Financial Services Ltd for about Rs 1.17 crore at Rs 2,119 per share. Post sale, the company stake in SPSPL drops from 100 percent to 96.33 percent, but SPSPL stays a subsidiary. SPSPL contributed about 7.5 percent of company revenue and 4.5 percent of net worth in FY26. Sale expected by July 27. Company Secretary Anushree Tekriwal resignation also accepted.
Minor divestment, subsidiary status retained. Small cash inflow of about Rs 1.17 crore, unlikely to materially move the needle on financials.