Multibagger Penny Stock Under Rs 60 In Green As Board To Raise Rs 383.78 Crore Through Preferential Issue By Allotting 7,00,33,000 Convertible Warrants
The stock gave multibagger returns of 430 per cent in just 2 years and a whopping 1,700 per cent in 3 years.
On Wednesday, shares of Hazoor Multi Projects Ltd surged 2 per cent to Rs 52.30 per share from its previous closing of Rs 51.27 per share. The stock is up by 84 per cent from its 52-week low of Rs 28.41 per share.
Hazoor Multi Projects Ltd plans to issue up to 70,033,000 Fully Convertible Warrants through a Preferential Allotment to strategic investors in the "Non-Promoter, Public Category" for an aggregate amount of up to Rs 383.78 crore. Each warrant, issued at Rs 54.80, will entitle the holder to subscribe to one Equity Share within 18 months from the date of allotment. The post-preferential issue shareholding will see Public shareholders increase to 86.03%, while Promoters' shareholding will decline to 13.97 per cent. The allotted Warrants include 4,500,000 shares to FIIs such as Minerva Ventures Fund (10,000,000 warrants), Zeal Global Opportunities Fund (12,500,000 warrants), MGO HIGH CONVICTION FUND INCORPORATED VCC SUB-FUND (10,000,000 warrants), and Bridge India Fund (12,500,000 warrants).
Additionally, Hazoor Multi Projects Ltd. (HMPL) is proud to announce its entry into India's green energy sector with the development of the Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP), Maharashtra's first solar park. This pioneering project, a joint venture with a leading UK-based multinational, will significantly contribute to the state's renewable energy goals. Located in Solapur district across 4,200 acres, the 1.2 GW solar park will utilize cutting-edge 750-watt solar panels and incorporate both fixed and tracking systems for maximum energy generation. 1 Once operational, CSMSUP will not only aid India's green energy transition and reduce its carbon footprint but also drive economic growth and create jobs in the Solapur region, aligning with HMPL's commitment to sustainable development. 2 This project serves as a beacon for global investors, demonstrating India's leadership in combating climate change and inviting them to participate in the country's burgeoning renewable energy sector. Furthermore, HMPL is actively pursuing solar hybrid projects in collaboration with international partners in Maharashtra (1,200 MW) and Andhra Pradesh (500 MW), solidifying its position as a key player in advancing India's sustainable energy future.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
About the Company
Hazoor Multi Projects Ltd is a leading player in the Indian infrastructure sector, specialising in a diverse range of projects including road construction, bridges, flyovers, and other civil engineering works. With a strong commitment to quality, safety, and timely delivery, Hazoor Multi Projects has established a solid reputation for excellence in the industry. The company boasts a skilled workforce and a robust infrastructure, enabling it to undertake challenging projects of varying scales and complexities. Hazoor Multi Projects contributes to the nation’s growth by developing vital infrastructure that supports economic progress and enhances connectivity.
The company has a market cap of Rs 1,117 crore. According to Quarterly Results, the net sales increased by 118 per cent to Rs 153.08 crore and net profit increased by 17 per cent to Rs 11.02 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales decreased by 59 per cent to Rs 225.16 crore and net profit decreased by 68 per cent to Rs 20.48 crore in H1FY25 compared to H2FY24.
The company's ex-traded stock shares split in the ratio 10:1 i.e., sub-division of equity shares of Rs 10 face value, 10 equity shares of face value of Re 1 each on Thursday, November 07, 2024. The company's shares have a PE of 13x whereas the sectoral PE is 23x. The stock gave multibagger returns of 430 per cent in just 2 years and a whopping 1,700 per cent in 3 years. From Rs 0.15 to Rs 52.30 per share; the stock rocketed 34,766 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.