HMPL's Strategic Expansion Through Convertible Warrants

Hazoor Multi Projects Ltd (HMPL) has announced plans to raise Rs 383.78 crore through convertible warrants to support business expansion. The funds will boost the new business segment and financial resources. Additionally, HMPL has initiated plans in the renewable energy sector with 1.2 GW projects in Maharashtra.

Hazoor Multi Projects Ltd (HMPL) has unveiled plans to secure Rs 383.78 crore via convertible warrants, supporting its strategic growth initiatives. The funds aim to bolster the expansion of new business sectors and enhance financial capabilities, as detailed in a regulatory filing.

In a recent board meeting, HMPL decided to issue 7 crore and 33 thousand fully convertible warrants. These will be converted into equity shares with a face value of Re 1 per share, raising a significant amount to fuel future growth and diversification.

This development followed HMPL's announcement of entering the renewable energy arena with a 1.2 GW clean energy project, sprawling over 4,200 acres in Maharashtra. The company continues its commitment to renewable energy and EPC-based road projects.

(With inputs from agencies.)