Multibagger stock: Small-cap stock under ₹100 in focus as Mumbai-based DII picks up a stake in the company
- Multibagger stock: Hazoori Multi Projects share price has given a return of around 33,068 per cent in 5 years.
Hazoor Multi Projects, a small-cap company listed on the Bombay Stock Exchange (BSE), will likely be in focus on Wednesday, December 18, following a transaction involving a Domestic Institutional Investor (DII). The Mumbai-based firm announced fresh allotment of equity shares following the conversion of warrants on December 17 via an exchange filing.
Hazoor Multi Projects share price history
Hazoor Multi Projects share price closed in the red, down 3.51 per cent at ₹53.07 on December 17 on the BSE. The small-cap company has a market capitalisation of ₹1,042.85 crore.
Hazoori Multi Projects share price has given around 33,068 per cent returns in the last five years. Meanwhile, it has moved up approximately 50 per cent in the last six months and over 84 per cent in a year.
During a meeting held on December 17, 2024, the fund-raising committee of Hazoor Multi Projects approved the allocation of 22,22,220 equity shares at ₹30 per share, including a premium of ₹29. The shares, each with a face value of Re 1, were issued as part of the conversion of 2,22,222 warrants initially allotted at an issue price of ₹300. These warrants were entitled to a tenfold conversion into equity shares post the stock split effective from November 7, 2024.
The allotment was made to West Midlands Ventures Pvt. Ltd., a prominent non-promoter entity, which paid 75 per cent of the warrant price, equivalent to ₹225 per warrant, to complete the conversion. With this transaction, Hazoor Multi Projects' paid-up capital increased to ₹21.09 crore, consisting of 21,09,52,680 equity shares.
As per regulatory filings, Hazoor Multi Projects still has 1,02,00,573 warrants outstanding for potential conversion into equity shares over the next 18 months.
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