Everything you need to know about the Hazoor Multi Projects Limited rights issue

Hazoor Multi Projects Limited (HAZOOR) has announced a rights issue of 50.75 lakh equity shares aggregating up to Rs. 45 crores. The rights issue opens for subscription on February 03, 2023, and will close on February 20, 2023.

Anyone who holds shares of Hazoor Multi Projects Limited as of January 20, 2023 (record date) will be eligible for receiving Rights Entitlements (REs). You can check the announcement from the company here.

These REs will be temporarily traded on the stock exchanges and will then be extinguished. You can either use the REs to apply for the rights shares of Hazoor Multi Projects Limited or sell them in the market.

You will be eligible for Rights Entitlements (REs) if you have bought the shares on or before January 19, 2023. The ex-date is January 20, 2023.

Rights Issue Details

Issue Period February 03, 2023 - February 20, 2023
RE Trading Period February 03, 2023 - February 15, 2023
RE Symbol HAZOOR-RE
Issue Price Rs. 88
Ratio 1:2
Ex-date January 20, 2023
Record Date January 20, 2023
Tentative Date of Allotment for rights shares February 28, 2023
Tentative Date of Listing for rights shares March 08, 2023

This is a partly-paid issue, meaning you only have to make part payment at the time of application.

Amount payable per equity share Face Value Premium Total
On Application 2.5 19.5 22
One or more additional calls as may be decided by the company 7.5 58.5 66
Total 10 78 88

If you continue holding partly-paid shares of the company when it makes a call for the balance payment, you will be liable to pay the balance sum. If you have sold the partly-paid shares, the buyer will be liable to pay the sum.

How to apply for Hazoor Multi Projects Limited Rights Issue?

Once you either receive the REs from the company or purchase them from the market, you can apply for the rights shares using the below methods;

You can check the application process here.

You will need to enter your Demat account’s Beneficiary Owner ID which is a 16-digit number while applying for the rights issue.

The option to apply for rights shares through the RTAs portal is not available for this rights issue.

If you face any difficulties applying for the rights issue, you can reach out to the RTA at [email protected] or at 022-49186200 / +91 8108114949.

What will happen to my purchased holding of RE shares if I do not apply for the rights issue?

Your REs will lapse and you will lose the premium paid to acquire them. The RE will be in the form of temporary demat securities which will lapse if not renounced/exercised once the trading window is closed.

I don’t have the shares but bought REs, am I still eligible to apply for the rights issue?

In case you have bought REs but don’t have shares, you’re still eligible for the rights issue. You may apply for the rights shares either through the RTA’s portal or via net banking ASBA if your bank allows it. If you don’t take any action, and let the REs remain in your Zerodha account, they will lapse after the issue.

You can read more FAQ’s on Rights Issue and Rights Entitlements here.

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