Mumbai (Maharashtra) [India], March 25: Hazoor Multi Projects Limited (HMPL) has announced key financial and strategic developments concerning its wholly owned subsidiary, Square Port Shipyard Private Limited, reinforcing its commitment to long-term value creation and capital optimization.
The company had earlier intimated the stock exchanges regarding its plan to convert its existing investment in Optionally Convertible Debentures (OCDs) of the subsidiary into equity shares. This move is part of HMPL's broader strategy to streamline its capital structure and deepen its investment in the subsidiary's growth trajectory.
Building on this, HMPL has now approved an extension of the tenure of its 0.01% OCDs aggregating to ₹25 crore. The tenure has been extended by an additional year, from April 9, 2026, to April 9, 2027. This extension is expected to provide enhanced flexibility for the company to execute its financial plans while supporting the subsidiary's operational and expansion initiatives.
Further, the company has approved a modification in the security structure associated with these debentures. The revised security will include a property located at Navase, Taluka Dapoli, District Ratnagiri, Maharashtra. This is subject to the creation and registration of a charge over the property and completion of necessary statutory filings, ensuring compliance with regulatory requirements.
These developments underline HMPL's continued focus on prudent financial management and its strategic intent to strengthen its subsidiary's balance sheet while unlocking long-term growth opportunities.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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