HMPL finalises allotment of convertible warrants - Details
The company said it looks to utilise the proceeds to enhance financial resources to fund its growth.
Infrastructure company Hazoor Multi Projects Ltd (HMPL) on Friday said that its board has finalised the allotment of convertible warrants.
"Allot up to 1.62 crore fully convertible warrants, convertible into equivalent number of fully paid up equity share having face value of Rs 10 to the persons belonging to non-promoter, public category on preferential basis, payable in cash, for aggregating amount of up to Rs 486 crore," according to an exchange filing by company dated May 3.
The board has approved fundraising of Rs 4,860 million through issuing and allotting up to 1.62 crore fully convertible warrants to the persons belonging to the 'non-promoter' and 'public' category on a preferential basis at an issue price of Rs 300 per warrant, the company said.
The company said it looks to utilise the proceeds to enhance financial resources to fund its growth.
Besides, the constitution of a fundraising raising committee was among the several proposals approved by the board. HMPL is into building road projects on an engineering, procurement and construction (EPC) basis.
With PTI inputs
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
04:51 PM IST