Multibagger Penny Stock Under Rs 50: Board Allotted 10,77,000 shares to Resonance Opportunities Fund & 3 Non-Promoters
The stock gave multibagger returns of 400 per cent in just 2 years and a whopping 1,750 per cent in 3 years.
Hazoor Multi Projects Ltd announced that its fund-raising committee, in a meeting held on March 25, 2025, approved the preferential allotment of 10,77,000 equity shares (face value Re 1 each, issue price Rs 30 each) following the conversion of 1,07,700 warrants (originally issued at Rs 300 each). This conversion, adjusted for a stock sub-division, resulted in the allotment to individuals: Pratik Sanghi, Sarvesh Sanghi, Resonance Opportunities Fund and Rajiv Mehta. The allotment was contingent upon receiving the remaining Rs 2,42,32,500 (Rs 225 per warrant, 75 per cent of the issue price), as per SEBI (ICDR) Regulations, 2018, with details provided on the number of warrants converted, equity shares allotted, and post-allotment equity holdings for each investor.
Additionally, the company has established a wholly owned subsidiary, HAZOOR NEW & RENEWABLE ENERGY PRIVATE LIMITED (CIN: U35105MH2025PTC442836), through a related party transaction involving the subscription of 10,000 equity shares at Rs 10 each, totalling Rs 1,00,000, thereby securing 100% ownership; this new entity, incorporated on March 12, 2025, will focus on designing, researching, manufacturing, and selling renewable energy solutions, including solar, wind, and bioenergy, alongside conventional and non-conventional energy sources, to execute power and green energy businesses, developing energy distribution infrastructure, facilitating electricity sales, promoting renewable energy adoption, establishing strategic collaborations for technology transfer, and manufacturing and exporting renewable energy equipment, ultimately aiming to contribute to a sustainable energy future through diverse activities such as waste treatment and smart grid development.
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About the Company
Hazoor Multi Projects Ltd is a leading Indian company that builds roads, bridges, and other civil engineering projects. They focus on good quality, safety, and finishing projects on time. They're known for doing excellent work. They have skilled workers and the right equipment to handle big and complex projects. Hazoor Multi Projects helps India grow by building important infrastructure that boosts the economy and makes travel easier.
The company has a market cap of over Rs 900 crore. The company reported net sales of Rs 164.87 crore and a net profit of Rs 2.72 crore in its Quarterly Results (Q3FY25) while in its nine-month results (9MFY25), the company reported net sales of Rs 391.21 crore and a net profit of Rs 23.20 crore. Looking at its annual results (FY24), the company reported net sales of Rs 545 crore and a net profit of Rs 64 crore
The stock is up by 62 per cent from its 52-week low of Rs 28.41 per share. The company's shares have a PE of 12x whereas the sectoral PE is 20x. The stock gave multibagger returns of 400 per cent in just 2 years and a whopping 1,750 per cent in 3 years. From Rs 0.15 to Rs 45.99 per share, the stock rocketed over 30,000 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.