The stock of Hazoor Multi Projects Ltd a company in the construction and infrastructure sector will be on the radar of investors on Monday December 22. Actually the company informed about the big corporate action in its latest exchange filing after the market closed last Friday. The company said that the meeting of the companys fund-raising committee was held on Friday in which the board members took an important decision. The meeting approved the allotment of 2796670 equity shares after conversion of 279667 warrants of ₹1 face value to non-promoter/public category investors on a preferential basis at a price of Rs 30 per share (including a premium of Rs 29). Warrant holders paid ₹225 per warrant (75% of the total issue price) providing the company with a total of ₹6.29 crore (approximately $1.6 million). This allotment follows a subdivision of the face value of the companys shares from Rs 10 to Rs 1. Following this allotment the issued and paid-up share capital of the company has increased to Rs 24.34 crore comprising 24.34 crore equity shares. The company also informed that 6948639 warrants are still pending for conversion which the warrant holders can convert into equity shares by paying Rs 225 per warrant within 18 months. The companys stock closed at Rs 35.85 on Friday down 1.86% or Rs 0.68. In its filing the company reported that sales fell 33.30% to Rs 102.11 crore in the September quarter compared to Rs 153.08 crore in the same quarter last year. The company reported a net loss of Rs 9.93 crore compared to a net profit of Rs 11.02 crore in the same quarter last year. The companys operating profit margin (OPM) fell to -3.86% from 11.86% in Q2. PBDT fell from a profit of ₹16.37 crore to a loss of Rs 9.65 crore while PBT also fell from a profit of Rs 14.77 crore to a loss of Rs 11.05 crore. Earlier diversified player Hazoor Multi Projects Ltd (HMPL)incorporated a new arm to undertake power and renewable energy projects. The development comes after the company informed about its plans to set up a 500 MW solar project in Andhra Pradesh at an investment of Rs 2500 crore last month and a 1.2 GW capacity solar park in Solapur Maharashtra in January.