1,061% return in 2 years: Hazoor Multi Projects approves allotment of equity shares

Hazoor Multi Projects Share Price NSE, BSE:  Hazoor Multi Projects has informed exchanges that its board of directors has approved the allotment of 35 lakh shares of the company on a preferential basis. These shares have been allotted at a price of Rs 178 per equity share.

"...approved the allotment of 35,00,000 (Thirty-Five Lakhs Only) equity shares, on preferential basis, having face value of Rs 10 each, at an issue price of Rs 178 per equity share (including a premium of Rs 168 per equity share) for cash consideration, after receipt of amount aggregating to Rs 62,30,00,000 at the rate of Rs 178 per equity share," the company said in an exchange filing. 

While Mauritius-based FII Vespera Fund Limited has got 5.50 lakh company shares, London-based FII Aries Opportunities Fund Limited has received 5 lakh shares of the small cap company. Another FII Elara India Opportunities Fund has also got 5 lakh shares.  

Following this allotment, the fully paid-up capital of the company stands increased to Rs 18,65,99,190 consisting of 1,86,59,919 equity shares of Rs 10 each. 

Meanwhile, the small-cap stock opened upside today and went on to touch an intraday high of Rs 344.45 on the BSE. 

The company has given a multibagger return of 1,061 per cent in the last two years. The counter has made investors wealthier by 11,576 per cent in the last three years. 

Earlier, the company reported a 45.8 per cent rise in its September quarter net profit at Rs 13.79 crore.