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
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