Hazoor Multi Projects Limited announced a private placement to issue up to 16,200,000 warrants on preferential basis at an issue price of INR 300 per warrant for gross proceeds of up to INR 4,860,000,000 on April 12, 2024. An amount equivalent to 25% of the warrant issue price shall be payable at the time of subscription and allotment of each warrant and the balance 75% shall be payable by the warrant holder(s) on the exercise of warrant(s). Each warrant shall carry a right to subscribe 1 (one) equity Share per warrant, which may be exercised in one or more tranches during the period commencing from allotment of warrants until the expiry of 18 months from the date of allotment of the warrants.

The warrants converted into or exchanged with equity shares at a later date within a period of 18 months from the date of allotment of warrants. The transaction include individual investor participation and other group of investors. The transaction has been approved board of directors of the company.