Hazoor Multi Projects announced a revision to its Optionally Convertible Debentures (OCDs) conversion timeline through an exchange filing on February 28. According to the company's filing, the conversion of OCDs issued by its wholly owned subsidiary, Square Port Shipyard Private Limited, has been revised to March 2026. The company stated that there has been a revision in the indicative timeline for completion of the transaction, with the conversion process now expected to be finalized in March 2026. The conversion represents a strategic internal restructuring step intended to strengthen the company's equity position in its subsidiary and streamline its investment structure. The company clarified that no other terms, conditions, or details of the previously disclosed transaction have changed, with all other information provided in its earlier regulatory filing remaining valid and in effect.
The conversion resulted in the allotment of 2,50,00,000 equity shares of Square Port Shipyard Private Limited to the company, with no cash outflow involved. As reported by the company, the acquisition cost for converting these 2,50,00,000 equity shares was ₹10 per share, totaling ₹25,00,00,000. Following the conversion, Hazoor Multi Projects continues to hold 100% equity ownership in the subsidiary with no change in ownership structure, control, or management. This strategic move is part of the company's commitment to transparent disclosure practices and regulatory compliance while continuing to execute its strategic initiatives within revised operational timelines.
On Thursday, the company announced that CRISIL Ratings has assigned ratings to the bank facilities of M/s Hazoor Infra Projects Limited, a material subsidiary, for its Hybrid Annuity Model (HAM) project. According to the company's statement, CRISIL awarded a 'CRISIL BBB+/Stable' rating to the company's long-term bank facilities amounting to ₹476 crore, indicating an adequate level of safety with a stable outlook. Additionally, CRISIL assigned a 'CRISIL A2' rating to the short-term bank facilities, signifying a strong degree of safety in meeting timely financial obligations. Hazoor Multi Projects Limited is an India-based company engaged in infrastructure development and related business activities, focused on delivering integrated project solutions across sectors.
The multibagger stock has shown mixed performance across different timeframes. As reported by the company, the stock ended the Friday session 0.12% down at ₹31.99 on BSE. In the near term, the stock has descended 8.26% in the past five sessions but has gained over 6% in a month. However, the stock has fallen 24% in six months and 13.49% in a year, with a 12.45% decline year-to-date since the beginning of 2026. Despite recent volatility, the stock has delivered multibagger returns of 9,300% over the last five years.
