Hazoor Multi Projects Ltd Witnesses Promising Surge in Stock Prices
Our sources have confirmed that the stock prices of small-cap realtor player, Hazoor Multi Projects Ltd, experienced a positive upswing by 2% on BSE, reaching INR 5.75. This surge was instigated by the investment by Mauritius-based Foreign Portfolio Investors (FPIs). As per the trading details, the shares were initially capitalised at INR 5.50 each on February 02, 2024. The ascent of the stocks is directly related to a string of recent strategic resolutions actualised by the firm.
A Special Shareholders’ Conference Fuels Growth
The zenith leading to this event was the Special Shareholders’ Assembly held on January 02, 2024. This meeting, followed by an ‘In-Concept Consent’ from the BSE, established a firm foundation for the Board of Directors of the company to green-light the distribution of 35,00,000 equity shares at Rs 178 each, underlined by a premium of INR 168 per share. The aftermath of this session engendered an augmented cash intake of INR 62.30 crores to the company.
Foreign Portfolio Investors Acquire Significant Stakes
Amongst the FPIs procuring the assets were entities such as Vespera Fund Limited securing 5,50,000 shares. Likewise, Aries Opportunities Fund and Elara India Opportunities Fund were each able to secure 5 lakh shares. Kiftar IN LLC wasn’t far behind, and secured a reliable position by claiming 2,50,000 shares. Following these engagements, the crucial role of these Mauritius-based FPIs cannot be overlooked in the newfound buoyancy of Hazoor Multi Projects’ stock rates.
Surge in Capital Post Allotment
Post-allotment, the completely paid-up capital of Hazoor Multi Projects saw an impressive rise, standing at INR 18,65,99,190. This constitutes 1,86,59,919 equity shares, each amounting to INR 10. Expectedly, the step-up in capital will act as a catalyst, bolstering its monetary resources, and furnishing the company with the requisite financial boost it needs to expand its footprints in the real estate and infrastructure arenas.
