Multibagger stock: Small-cap stock under ₹100 in focus as Mumbai-based DII picks up a stake in the company | Stock Market News

Hazoor Multi Projects Limited, a small-cap company listed on the Bombay Stock Exchange (BSE), a notable transaction involving a Domestic Institutional Investor (DII), has brought the stock into focus. The Mumbai-based firm announced a fresh allotment of equity shares following the conversion of warrants, the company announced on December 17 in 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 BSE. It has a market capitalisation of ₹1,042.85 crore, as per BSE.

Hazoori Multi Projects share price has given a return of around 33,068 per cent, in 5 years period, as per BSE. Meanwhile, it has moved up to approximately 50 per cent in 6 months period 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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