Penny stock under Rs 50: Company allots 8,15,500 equity shares consequent to conversion of warrants to 4 allottees

DSIJ Intelligence-1 / 07 Aug 2025/ Categories: Multibaggers, Penny Stocks, Trending

Penny stock under Rs 50: Company allots 8,15,500 equity shares consequent to conversion of warrants to 4 allottees

From Rs 0.13 to Rs 44.85 per share, the stock rocketed by 34,400 per cent in 5 years.

Hazoor Multi Projects Limited (HMPL) announced that its fund-raising committee approved the allotment of 8,15,500 equity shares with a face value of Re 1 each. These shares were issued at Rs 30 each (including a premium of Rs 29), following the conversion of 81,550 warrants. This conversion comes after a stock split, effective November 7, 2024, where one Rs 10 share was divided into ten Re 1 shares. The allottees, including Donald Venture Private Limited, Safir Anand, Mehul R Parekh and Aditi Saraff, paid the remaining 75 per cent of the issue price, amounting to Rs 1,83,48,750 (Rs 225 per warrant), to convert their warrants into equity shares on a preferential basis.

Additionally, the company acquired Quippo Oil & Gas Infrastructure Ltd. through a Swiss Challenge bidding process. This landmark acquisition marks HMPL's strategic entry into India's upstream Oil & Gas sector, particularly offshore services, diversifying its portfolio from an infrastructure EPC company to a multi-vertical, asset-integrated platform. Quippo brings a fleet of 14 advanced drilling rigs and a team of over 400 oilfield professionals, significantly enhancing HMPL's capabilities for large-scale offshore and integrated energy service contracts in India and internationally.

Furthermore, A Board of Directors meeting for Hazoor Multi Projects Limited is scheduled for Wednesday, August 13, 2025, at 4:00 PM. The meeting will take place at the company's registered office in Nariman Point, Mumbai. Key agenda items include considering and approving the Standalone & Consolidated Unaudited Financial Results for the quarter ended June 30, 2025, along with the Limited Review report. The Board will also consider the appointment of Mr. Mukund Shriniwasrao Bilolikar as an additional Independent Director, and any other matters with the Chair's permission.

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About the Company

Hazoor Multi Projects Ltd is a leading Indian company that builds roads, bridges and other civil engineering projects. They focus on good quality, safety and finishing projects on time. They're known for doing excellent work. They have skilled workers and the right equipment to handle big and complex projects. Hazoor Multi Projects helps India grow by building important infrastructure that boosts the economy and makes travel easier.

The company has a market cap of over Rs 950 crore. The company reported net sales of Rs 249 crore and a net profit of Rs 17 crore in its Quarterly Results (Q4FY25) while in its half-yearly results (H2FY25), the company reported net sales of Rs 414 crore and a net profit of Rs 20 crore. Looking at its annual results (FY25), the company reported net sales of Rs 638 crore and a net profit of Rs 40 crore. The Board has recommended a final dividend of Re. 0.20 per equity share (20 per cent) for the financial year 2024-25.

In June 2025, FIIs bought 8,08,983 shares and increased their stake to 21.90 per cent compared to March 2025. The company's shares have a PE of 24x whereas the sectoral PE is 40x. The stock gave multibagger returns of 250 per cent in just 2 years and a whopping 1,000 per cent in 3 years. From Rs 0.13 to Rs 44.85 per share, the stock rocketed by 34,400 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.