Announced Mon, 29 Jun · 17:29 IST
Hazoor redeems Rs 25 crore OCDs from wholly owned subsidiary
Price
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Price reaction · full curve 14 horizons · vs prior close
-1.0%1-day move
₹24.50
prior close
₹24.80
base price
After-mkt
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AI summary
Hazoor Multi Projects has redeemed Optionally Convertible Debentures worth Rs 25 crore from its wholly owned subsidiary Square Port Shipyard Private Limited. The OCDs carried a 0.01 percent coupon. No equity shares were allotted under the OCDs, and Square Port Shipyard continues to remain a wholly owned subsidiary. The company says the redemption has no material adverse impact on its operations or financial position.
Likely market impact
Investment unwind from subsidiary with no change in shareholding or material financial impact. Neutral for shareholders.