Hazoor Multi Projects forfeits ₹18.6 Cr upfront payment on lapsed warrants

Hazoor Multi Projects Ltd has announced the forfeiture of upfront consideration paid for 24,82,226 share warrants that lapsed due to non-exercise within the stipulated period. The company had allotted 1,25,85,300 warrants on a preferential basis at an issue price of ₹300 per warrant. A total of 1,01,03,074 warrants were exercised, while the remaining 24,82,226 warrants lapsed. The forfeited amount, representing 25% of the issue price for the lapsed warrants, totals ₹18,61,66,950. This action does not impact the company's issued, subscribed, or paid-up equity share capital.