Hazoor Multi Projects redeems ₹25 Cr investment in OCDs

Hazoor Multi Projects Ltd has redeemed its investment of ₹25 Crores in Optionally Convertible Debentures (OCDs) issued by its wholly owned subsidiary, Square Port Shipyard Private Limited (SPSPL). The redemption was made in accordance with the terms of the OCDs and mutual agreement. Consequently, the investment is extinguished, no equity shares were allotted, and the company's shareholding in SPSPL remains unchanged as a wholly owned subsidiary. The redemption is not expected to have any material adverse impact on the company's operations or financial position.