Detailed Coverage

Hazoor Multi Projects Sells Subsidiary Stake

Hazoor Multi Projects Ltd has divested 3.67% of its equity share capital in its wholly-owned subsidiary, Square Port Shipyard Private Limited (SPSPL), for ₹1.17 crore.

Reader Takeaway: Strategic stake reduction in subsidiary; Company Secretary resigns.

What just happened

The company announced the sale of 5,500 equity shares, representing a 3.67% stake in SPSPL, to Master Financial Services Limited. The transaction, valued at ₹1.17 crore (₹116.55 lakh), was conducted at ₹2,119 per share, based on a valuation report dated June 30, 2026. Following this divestment, Hazoor Multi Projects Ltd's holding in SPSPL will decrease from 100% to 96.33%, though SPSPL will continue to be its subsidiary.

Why this matters

This move signifies a strategic adjustment in the shareholding structure of SPSPL. The sale at an arm's length basis provides a clear valuation for the subsidiary. Investors can note that the company retains significant control, ensuring SPSPL remains consolidated.

The backstory

SPSPL, as of March 31, 2026, reported a revenue of ₹43.29 crore and a net worth of ₹28.15 crore. Hazoor Multi Projects Ltd previously held a 100% stake in this subsidiary.

What changes now

Hazoor Multi Projects Ltd's direct ownership in SPSPL is now 96.33%. The company has also seen a change in its key managerial personnel with the resignation of its Company Secretary and Compliance Officer.

Risks to watch

Investors should monitor the operational performance of SPSPL and its contribution to Hazoor Multi Projects' overall financials. Any significant management changes could also impact investor confidence.

Peer comparison

Information on comparable divestment strategies or subsidiary valuations within the shipbuilding and project development sectors is not detailed in this filing.

Context metrics (time-bound)

The valuation report for the transaction was dated June 30, 2026. The Company Secretary's resignation is effective from July 14, 2026.

What to track next

Investors should look for further updates on the integration of SPSPL's operations and any impact on Hazoor Multi Projects' consolidated financial results. Monitoring the appointment of a new Company Secretary will also be key.