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Multibagger infra stock declares fund raise through preferential issue. Share hits upper circuit

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Hazoor Multi Projects share price witnessed sharp upside in early morning deals and hit 5 per cent upper circuit within few seconds of stock market’s . Hazoor Multi Projects share price today opened at 245. 60 apiece levels on and hit upper circuit.

While touching the upper circuit, this circuit to circuit stock went on to scale a new life-time high as well. Hazoor Multi Projects stocks were under the radar of investors as the infra sector company has declared fund raise to the tune of 97. 90 crore through issuance of preferential shares.

Hazoor Multi Projects fund raise details Ltd informed Indian stock market bourses about fund raise citing, “In terms of Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company in their meeting held on today i. e. Wednesday, 06th December, 2023, at the registered Office of the company at C-45, 4th Floor, Plot 210, Mittal Tower, C, Wing, Barrister Rajani Patel , Nariman Point, Mumbai-4000021 inter-alia considered and approved the following businesses: To accelerate growth further and to augment the financial resources of the Company through raising of funds, aggregating amount of up to Rs.

97,90,00,000/- (Rupees Ninety Seven Crores and Ninety Lakhs Only), by way of creating, issuing and allotting up to 55,00,000 (Fifty Lakhs only) Equity Share having face value of Rs. 10/- each, to the persons belonging to ‘Non-Promoter, Public Category’, as detailed in Annexure-l, on preferential basis, at an issue price higher than the floor price determined in accordance with the provision of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”), payable in cash, in accordance with the provisions of Section 42 and Section 62(1)(c) of the Companies Act, 2013, as amended (“Act”) read with Companies (Prospectus and Allotment of Securities) Rules, 2014, and Companies (Share Capital and Debentures) Rules, 2014 as amended (“Rules”), Chapter V of SEBI ICDR Regulations, in such manner and on such terms and conditions as determined by the Board in its absolute discretion in accordance with the SEBI ICDR Regulations and other applicable laws subject to approval of shareholders and other regulatory authorities, as may be applicable. ” Hazoor Multi Projects share price history Hazoor Multi Projects shares are one of the circuit to circuit stocks listed on Dalal Street.

This infra stock has been hitting upper circuit for the last nine straight sessions. In last one month, this infra stock has risen from around 145. 50 to 245.

60 apiece levels, logging around 70 per cent rise in this time. In last six months, this multibagger stock has surged to the tune of 65 per cent. In YTD time, this multibagger stock has risen from 72.

75 to 245. 60 apiece levels, logging around 235 per cent rally in this time. Livemint tops charts as the fastest growing news website in the world to know more.

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From: livemint
URL: https://www.livemint.com/market/stock-market-news/multibagger-infra-stock-declares-fund-raise-through-preferential-issue-share-hits-upper-circuit-11701922754541.html

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