Small-cap stock below ₹50 in focus after allotment of preferential shares to Nagpur-based DII | Stock Market News
Source: Live Mint
Small-cap stock below ₹50: Infrastructure firm Hazoor Multi Projects Limited, on Monday, March 3, announced that the fund-raising committee of the company had approved the allotment of preferential shares to a Nagpur-based Domestic Institutional Investors (DII) West Midlands Ventures Private Limited, as per the BSE filing.
According to the small cap firm’s statement, the company has allotted 17,77,777 or 17.77 lakh equity shares with a face value of Re 1 per share at an issue price of ₹30 each. This deal was a conversion of 1,77,777 or 1.77 lakh share warrants, which resulted in an amount of ₹3,99,99,983 or 3.99 crore.
The warrants were issued at an issue price of ₹300 each after adjusting for the number of shares, paid-up capital per share and a premium per share.
“We wish to inform you that the fund-raising committee of the Company in their meeting held today, i.e. Monday, March 03, 2025, inter‐alia, considered and approved the allotment of 17,77,777 equity shares having face value of Re 1/- each at an issue price of Rs. 30/- each (including a premium of Rs. 29/- each), consequent upon the conversion of 1,77,777 Warrants issued at an Issue Price of Rs. 300/-each, after adjusting the number of shares, paid-up capital per share and premium per share post sub-division of nominal value of the Equity Share of the Company from 1 Equity Share of Rs. 10/- each to 10 Equity Shares of Re. 1/- each,” according to the company’s statement.
Hazoor Multi Projects Share Price
Hazoor Multi Projects shares closed 6.66 per cent higher at ₹36.98 amid a volatile stock market session on Monday, compared to ₹34.67 at the previous market close. The preferential allotment was announced after the stock market’s operating hours on March 3.
Hazoor Multi Projects shares have given stock market investors more than 24,500 per cent returns in the last five years. However, the shares have lost 5.66 per cent in the last one-year period. The shares are trading 30.79 per cent lower on a year-to-date (YTD) basis in 2025.
The infrastructure firm’s market capitalisation was at ₹767.34 as of the stock market close on Monday. Hazoor Multi Projects shares hit their 52-week high level at ₹63.90 on September 12, 2024, while the 52-week low level was at ₹28.41 on March 28, 2024.
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