Small- cap below 50 jumps over 6% after allotment of shares to these FIIs | Stock Market News
Source: Live Mint
Hazoor Multi Projects Ltd’s share price jumped 6.71 per cent to ₹44.06 per share, rising from the previous closing price of ₹41.29. The stock has gained 62 per cent from its 52-week low of ₹28.41 per share.
The small-cap stock rallied after the company announced on Monday the allotment of 7,00,33,000 equity shares, having face value of ₹1 at an issue price of ₹54.80 to FIIs.
Minerva Ventures Fund, Zeal Global Opportunities Fund, MGO High Conviction Fund Incorporated VCC Sub-Fund, Bridge India Fund, and 5 Nautilus Private Capital Ltd (Previously Known as Trade Delta) were the proposed allottees.
Hazoor Multi Projects share allotment details
“Board decided to create, issue, and allot up to 7,00,33,000 (Seven Crore and Thirty Three Thousand Only)Fully Convertible Warrants Convertible into equivalent number of fully paid up equity share of the Company having face value of Re. 1/- (Rupee One Only) each, in one or more tranches, to strategic investors classified under “Non-Promoter, Public Category” on preferential basis, at an issue price of Rs. 54.80/- per warrant for aggregate amount of up to Rs. 383,78,08,400/- (Rupees Three Eighty-Three Crores and Seventy-Eights Lakhs and Eight Thousands and Four Hundred Only),” the company said in an exchange filing.
Last week, Hazoor Multi Projects has announced receiving a Letter of Award for a project from the National Highway Authority of India (NHAI). The company has been appointed as a user fee collection agency through an e-tender process. The awarded project involves managing the Bijora Toll Plaza for the four-laning of the Waranga to Mahagaon section (km 253.700 to km 320.580) of NH-361 in Maharashtra under NHDP Phase IV, operating on a hybrid annuity model. Additionally, the contract includes the upkeep and maintenance of adjacent toilet blocks, along with replenishing consumable items.
According to Hazoor Multi Projects’ exchange filing, the project is valued at ₹7.91 crore and is set to be executed within a three-month timeframe.
The stock delivered multibagger gains of 355% in just two years and an impressive 1,550 per cent over three years. Rising from ₹0.15 to ₹46 per share, it surged by more than 27,000% in five years.
The company reported net sales of ₹164.87 crore and a net profit of ₹2.72 crore for its quarterly results (Q3FY25). For the nine-month period (9MFY25), net sales were ₹391.21 crore with a net profit of ₹23.20 crore. For the full fiscal year (FY24), the company posted net sales of ₹545 crore and a net profit of ₹64 crore.
