Hazoor Multi Projects has informed exchanges that the board has approved the conversion of warrants into equities. The company said that the fund-raising committee has approved the allotment of 1.46 lakh warrants into equity shares of face value of Rs 10 each.
“Considered and approved the allotment of equity shares on conversion of 1,46,061 warrants into 1,46,061 equity shares of face value of Rs. 10/- each at an issue price of Rs. 300 each (including a premium of Rs. 290/- per share), to “Non-Promoters/Public Category”, on preferential basis,” the company said in an exchange filing.
These warrants were allotted on a preferential basis, at an issue price of Rs 300 per warrant on payment of Rs 75 per warrant, being 25 per cent of the issue price.
Consequent to today’s conversation of warrants/allotment of equity shares, the issued and paid-up capital of the company stands increased to Rs 18,85,66,020 consisting of 1,88,56,602 equity shares of Rs 10 each.
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