Aniket PujariMultibagger Hazoor Multi Projects Limited has announced the incorporation of a wholly owned subsidiary, Hazoor New & Renewable Energy Private Limited, to strengthen its presence in the power and green energy sector. The newly formed entity aims to focus on renewable and non-renewable energy solutions, marking a significant step in the company’s expansion strategy.
Subsidiary Details and Objectives
The newly incorporated subsidiary has an authorized and subscribed capital of ₹1,00,000, divided into 10,000 equity shares with a face value of ₹10 each. Hazoor Multi Projects holds 100 percent ownership of the subsidiary by subscribing to the entire share capital.
The primary objective of the new entity is to execute power and green energy businesses, including the development and implementation of renewable energy solutions. Hazoor New & Renewable Energy plans to engage in the design, research, manufacture, production, processing, and sale of various energy products and technologies. These include –
Additionally, the subsidiary will focus on infrastructure development such as smart grids and offer energy distribution solutions to government bodies, electricity boards, and private corporations.
Transaction Classification and Consideration
The acquisition of the subsidiary is categorized as a related party transaction, as the entity is directly linked to Hazoor Multi Projects. However, the company clarified that no promoter, promoter group, or group companies hold any interest in the subsidiary apart from Hazoor Multi Projects’ ownership.
The company confirmed that no governmental or regulatory approvals were required for this acquisition. Since it is a direct incorporation, no indicative timeline for completion was necessary. The entire consideration is in cash, with Hazoor Multi Projects subscribing to the full share capital of the subsidiary.
Strategic Intent and Future Outlook
The incorporation is part of Hazoor Multi Projects’ broader strategy to expand its footprint in the green energy sector. The company aims to promote sustainable practices, support the production of biofuels, and enhance its presence in residential, commercial, and industrial energy markets. The move is expected to contribute to a cleaner and more sustainable energy future.
Stock Price Trend
Hazoor Multi Projects has delivered strong returns in the stock market. The stock has gained over 31 percent in the last year. In March alone, it surged by 23 percent, recovering from a 37 percent decline in February. It had also jumped 7 percent in January.
Over the last two years, the stock has delivered multibagger returns, soaring by over 364 percent, reflecting strong investor confidence and growth potential.
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