Small-Cap Stock Below ₹ 50 Declares Allotment of Stocks Against Warrants. Details here

Small-Cap Stock Below 50: Hazoor Multi Projects Shares Hogged the Limelight in Trade on Friday, A Day after the company’s board approved the allotment of shares upon the conversion of 32,750 warrants.

The Small-Cap Company said that its fund-raising committee at its June 5 considered and approved the allotment of 3,27,500 shares of face value of 1 at an issue price of 30 Each.

The number of shares and the capital structure was adjusted following the stock split – from 1 equity share of 10 Each to 10 Equity Shares of Re 1 Each.

These shares will be Issued by hazoor multi projects to venkatraman subramanian upon the conversion of 32,750 warrants is ised at an issue price of 300 upon receiving the remain payment of 73,68,750 (75% of the issue price per warnt at 225 each).

Hazoor Multi Projects also notified that 88,52,450 Total Warrants are outstanding for conversion, and these warrant holders are entitled to get their warrants converted into an equal number of equal number of equel Shares of the company by paying the remain 75% IE, 225/- per warrant, within 18 months from the date of warrant allotment.

Hazoor Multi Projects Share Price Trend

Following a sharp 15% rally in a month, the small-cap stock below 50 tradeed with a cut today, even as the Indian stock market rejoiced at the reserve bank of India’s bigger-tha-exposed rate cut of 50 bps.

The Small-Cap Stock, with a Market Capitalization of just over 900 Crore, has been in a base-building mode since the last two weeks. It has shd 9% during this period. In Trade Today, Hazoor Multi Projects’ Share Price Dipped 4% to the Day’s low of 41.50.

The Fall also comes following its Q4 Results, Posted on May 30, Wherein the Small-Cap Company Reported A Decline in Profit to 6.23 Crore, Down 40% Year-On-Year. Meanwhile, Its Revenue from Operations Surged 69% in Q4 to 227.35 Crore from 134.56 Crore in the year -go period.

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