WarrantConversion

 Hazoor Multi Projects Surges 37,000% After Warrant Conversion

In an extraordinary feat rarely seen in the Indian stock market, Hazoor Multi Projects Ltd has emerged as a true multibagger, delivering over 37,000% returns to investors over the past five years. The company recently made headlines again after it approved the conversion of 1,00,000 warrants into equity shares, a decision that followed its stock split and underscores investor confidence in its continued growth.

A Multibagger in Every Sense

Hazoor Multi Projects, a small-cap real estate and infrastructure player listed on the Bombay Stock Exchange (BSE), has become a market marvel. What began as a relatively obscure stock five years ago is now the talk of Dalal Street due to its eye-popping return of 37,730%. Investors who had put in just ₹1 lakh would now be sitting on a fortune worth over ₹3.7 crore.

Such a phenomenal rise is attributed to both smart execution of infrastructure projects and a strategic approach to capital management. Over time, the company’s investor base has grown, attracted by consistent operational progress and proactive corporate actions.

Stock Split Fuels Liquidity

To further attract retail investors and enhance stock liquidity, Hazoor Multi Projects announced a stock split in November 2024. The company adjusted the nominal value of each equity share from ₹10 to ₹1, implementing a 10-for-1 stock division. This meant every shareholder received 10 shares for every one share previously held, making the stock more accessible to smaller investors.

Stock splits often rejuvenate interest in a company by increasing the number of shares in circulation and lowering the per-share price, thereby creating a perception of affordability. In Hazoor’s case, this corporate action successfully brought in more investor attention and activity.

Warrant Conversion Reflects Strong Promoter Confidence

The company has sanctioned the allotment of 10,00,000 equity shares following the conversion of 1,00,000 warrants, in accordance with the adjusted terms after the stock split.This transaction, done at ₹30 per share (including a ₹29 premium), suggests strong confidence from the warrant holders—usually promoters or key investors—about the company’s future performance. This move brings fresh capital into the company, strengthening its balance sheet and paving the way for further expansion.

Equity warrants grant their holders the opportunity to purchase shares at a fixed price set in advance, allowing them to acquire stock at a later date. Conversion of these warrants is a bullish sign, often indicating internal belief that the share price will climb well above the issuance price.

Financial and Market Snapshot

On May 2, 2025, Hazoor Multi Projects’ shares were valued at ₹37.83 in trading on the Bombay Stock Exchange (BSE). Following the warrant conversion, the company’s market capitalization now stands at approximately ₹785 crore. While this still places it within the small-cap bracket, the growth trajectory has positioned Hazoor as a serious contender for mid-cap status if it sustains its performance.

Additionally, the rise in the stock has not been without backing. The company has successfully executed road infrastructure projects, especially in Maharashtra, in collaboration with government agencies. The healthy project pipeline and timely delivery have instilled confidence among institutional and retail investors alike.

What Lies Ahead?

Looking forward, Hazoor Multi Projects is likely to continue drawing attention from market participants, especially if it sustains its financial momentum. The stock’s re-rating, driven by both fundamental improvements and corporate actions, positions it well for long-term growth. However, analysts advise caution, noting that such massive run-ups are often followed by phases of consolidation.

Valuation metrics will need to catch up with price action. Therefore, investors are encouraged to keep a close eye on future quarterly earnings, order book expansion, and any new infrastructure contracts that the company might bag.

Investor Takeaway

Hazoor Multi Projects’ story serves as a textbook case of how strategic business execution, combined with timely corporate actions like stock splits and warrant conversions, can create enormous shareholder value. However, while the multibagger label is deserved, investors must conduct due diligence and assess risk before jumping in at elevated levels.

Multibaggers often reward early believers, but future returns depend heavily on continued operational delivery and macroeconomic tailwinds. Hazoor’s journey so far is commendable, and its future will hinge on maintaining its current momentum in a competitive infrastructure landscape.

The image added is for representation purposes only