HMPL approves allotment of 1.25 crore convertible warrants
Each of the warrants will be convertible into or exchangeable for one fully paid-up equity share having a face value of Rs 10 on payment of the balance amount.
Hazoor Multi Projects has informed exchanges that the board has approved the allotment of 1,25,85,300 fully convertible warrants carrying a right exercisable to subscribe one equity share of Rs 10 face value.
Each of the warrants will be convertible into or exchangeable for one fully paid-up equity share having a face value of Rs 10 on payment of the balance amount (75 per cent) within 18 months from the date of allotment.
"Each of the Warrant, so allotted, is convertible into or exchangeable for one fully paid-up equity share having a face value of Rs. 10/- (Rupees Ten Only) of the Company in accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, on payment of the balance consideration i.e. 75% of the Warrant Issue Price from the Allottees within 18 months from the date of allotment of these warrants," the company said in an exchange filing.
Earlier, the board approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said.
Besides, the constitution of a fundraising raising committee was among the several proposals approved by the board. HMPL is into building road projects on an engineering, procurement and construction (EPC) basis.
With PTI inputs
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
GMR Airports Infra and 4 more: Axis Direct recommends buying 5 stocks for 5-15 days | Check targets, stop losses
Mutual Fund SIP vs Sukanya Samriddhi Yojana: Which offers higher returns on a Rs 20,000 monthly investment over 15 years?
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
02:17 PM IST