Even after this conversion, the company will continue to be a 100 per cent subsidiary of the firm, and there will be no change in its ownership, control or management.
Shares of infra-to-energy player Hazoor Multi Projects Ltd (HMPL) gained on Wednesday, i.e. on January 28, 2026. The action in the stock comes as the company has informed exchanges about the conversion of investment in its wholly-owned subsidiary Square Port Shipyard Private Limited (SPSPL) from Optionally Convertible Debentures (OCDs) into equity shares. The surge in the stock also comes on a day when the equity benchmark indices Sensex and Nifty surged in early trade, extending their previous day’s rally, on optimism over the India-EU FTA. The 30-share BSE Sensex jumped 646.49 points to 82,503.97 during initial trade. The 50-share NSE Nifty surged 196.7 points to 25,372.10.
Converts investment in Optionally Convertible Debentures
The company, in an exchange filing, said that it has converted its existing investment in Square Port Shipyard Private Limited (SPSPL) from Optionally Convertible Debentures (OCDs) into equity shares.
This conversion has been done as per the terms of the debentures, under which 2.50 crore equity shares (at a price of Rs 10 per share) have been allotted to the company. The conversion does not involve any cash consideration and has been undertaken by way of settlement of the existing debenture obligation.
Even after this conversion, Square Port Shipyard Private Limited will continue to be a 100 per cent subsidiary of the company ,and there will be no change in its ownership, control or management.
Share price today
The stock started the trading session in green at Rs 30.85 against the previous close of Rs 30.38 on the BSE. During the day, it touched an intraday high of Rs 31.40 and an intraday low of Rs 30.05. Last seen, the stock was trading at Rs 30.50, and the market cap of the company stood at Rs 710.13 crore.
Wins Rs 277-crore NHAI projects in Tamil Nadu, Maharashtra
Earlier, the company secured two work orders from NHAI worth around Rs 277 crore. The projects have been secured through the e-tender process, the company informed the exchanges.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
