Multibagger stock Hazoor Multi Projects will remain in focus on Monday, March 2, after the company announced a change in its timeline for its existing investment in Optionally Convertible Debentures (OCDs) of its wholly owned subsidiary, Square Port Shipyard.
The stock ended the Friday’s session on a flat note, closed 0.12% down at ₹31.99 apiece on BSE.
Hazoor Multi Projects’ OCD Conversion details
In an exchange filing on February 28, Hazoor Multi Projects said it has revised the timeline for the conversion of Optionally Convertible Debentures issued by its wholly owned subsidiary, Square Port Shipyard Private Limited, to March 2026.
“There is a change in the indicative time period for completion of the acquisition, which is now scheduled for March, 2026,” the company said in the filing.
The company had announced the conversion on January 27 and subsequently submitted a revised intimation to the exchange on February 28.
On January 27, the company had informed has converted its existing investment in OCDs of Square Port Shipyard Private Limited into equity shares.
According to the filing, the conversion has been carried out in line with the terms and conditions governing the issuance of the OCDs, resulting in the allotment of 2,50,00,000 equity shares of Square Port Shipyard Private Limited to the Company. This conversion did not involve any cash outflow and was executed through the settlement of the existing debenture liability.
Following the conversion, the company continues to hold 100% equity ownership in Square Port Shipyard Private Limited, with no change in the subsidiary’s ownership structure, control, or management.
The acquisition cost for the conversion of 2,50,00,000 equity shares is ₹10 per share, amounting to a total of ₹25,00,00,000.
On Thursday, the company said 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.
CRISIL has awarded a ‘CRISIL BBB+/Stable’ rating to the company’s long-term bank facilities amounting to ₹476 crore, signifying an adequate level of safety with a stable outlook. It has also assigned a ‘CRISIL A2’ rating to the short-term bank facilities, indicating a strong degree of safety in meeting timely financial obligations.
Hazoor Multi Projects share price trend
The multibagger stock has remained volatile in the near term. The stock has descended 8.26% in the past five sessions; however, has gained over 6% in a month.
Zooming out further, the stock has fallen 24% in six months and 13.49% in a year. In terms of year-to-date (YTD), Hazoor Multi Projects share price has shed 12.45% since the beginning of 2026.
However, the stock quadrupled investors money by delivering multibagger returns of 9,300% in the last five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
