Shares of Hazoor Multi Projects Ltd (HMPL) are on investors’ radar following key corporate updates shared in recent exchange filings. After market hours on Tuesday, the company informed investors about developments related to its stake in Vyom Hydrocarbon Private Limited (VHPL). In its filing, the company said it had earlier acquired a 51 per cent stake in Vyom Hydrocarbon Private Limited (VHPL) and appointed its directors to the board of VHPL. VHPL subsequently acquired a 100 per cent stake in Quippo Oil and Gas Infrastructure Limited, making Quippo a step-down subsidiary of HMPL.
However, CCDs (convertible debentures) worth around Rs 22.30 crore issued by VHPL in July 2025 were later converted into equity. Following this conversion, HMPL’s shareholding fell below the majority threshold.
As a result, in accordance with accounting rules, the company lost control over VHPL. Consequently, both VHPL and its subsidiary Quippo are no longer subsidiaries of HMPL.
Stock price movement
The stock, listed on the BSE Ltd, opened in the red at Rs 35.29 against the previous close of Rs 35.31. Amid a sell-off in the broader market, the stock dipped further and touched a low of Rs 34.57. Last seen, it was trading at Rs 35.16, down 0.42 per cent or Rs 0.15.
Rs 44.24 crore NHAI toll contract
In a separate filing on Tuesday, HMPL said it received a Letter of Award (LOA) from the National Highways Authority of India (NHAI).
Under the agreement, the company will collect toll fees from vehicles on the four-lane stretch between Challakere and Hiriyur (km 359.120 to 411.560; design km 358.500 to 414.205) at the Balenahalli toll plaza (design km 397.400) on NH-150A in Karnataka. HMPL will also be responsible for maintenance and providing necessary supplies for the toilets located near the toll plaza.
The company stated that the contract was awarded by NHAI through an e-tender under a competitive bidding process. The total cost of the project stands at Rs 44,23,80,000, approximately Rs 44.24 crore.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
