Hazoor Multi Projects Ltd., known for its residential and commercial real estate developments, has completed a key step in its capital-raising plan. In an exchange filing dated December 17, 2025, the company confirmed that it had issued 37,35,440 new equity shares through the conversion of warrants.

Each share has a face value of ₹1 and was issued at ₹30 (which includes a ₹29 premium). This move comes after the earlier allotment of 373,544 warrants, priced at ₹300 each. The conversion follows a stock split where the face value of shares was changed from ₹10 to ₹1.

Funds Raised and Investor Details

The newly issued shares were allotted to public (non-promoter) investors through a preferential issue. The company received ₹8.40 crore from this conversion, with each warrant requiring an upfront payment of ₹225 (75{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247} of the total price).

With this conversion, the company’s total paid-up capital now stands at ₹24.06 crore, comprising 24,06,75,350 equity shares of ₹1 each.

What’s Pending

Hazoor also mentioned that 72,28,306 warrants are still waiting to be converted. These warrant holders can choose to convert them into equity shares by paying the remaining ₹225 per warrant within 18 months from their original allotment date.

If all pending warrants are converted, the company could raise a significant amount further and expand its capital base.

Current Stock Price and Market Reaction

As of the latest trading session on December 18, 2025, Hazoor Multi Projects’ stock is priced at ₹37, down by ₹0.31 or 0.83{3ed7819c3563dca85364f9c966d48c284cd3d43c23a196a6bbb99b5b9eebb247} on the Bombay Stock Exchange (BSE).

Despite the slight dip, the share price has shown signs of stability after recent corporate updates.

Recent Project Wins from NHAI

Earlier this quarter, Hazoor Multi Projects announced that it had won two work orders from the National Highways Authority of India (NHAI) worth ₹277 crore.

These contracts were awarded via an online bidding process and involve managing toll collection at specific highway plazas in Tamil Nadu and Maharashtra.

The company is expanding beyond real estate and entering infrastructure services, particularly in highway toll management — a sector with steady cash flow and long-term potential.

What to Expect Ahead

Hazoor’s recent capital raise, along with government infrastructure contracts, signals steady business momentum. With more warrants still available for conversion and work orders in hand, the company is positioned to bring in more funds and execute larger-scale projects.

Investors and market watchers will be keenly observing the company’s next filings, share movements, and updates on project execution.