Hazoor Multi Projects Limited Acquires Square Port Shipyard

On April 22, 2024, Hazoor Multi Projects Limited informed in an exchange filing that the company had acquired 100% equity shares of Square Port Shipyard Private Limited.

Details of the Acquisition 

Hazoor Multi Projects Limited acquired a full stake in Square Port Shipyard Private Limited. The acquisition was completed by way of a Share Purchase Agreement (SPA) and for cash consideration of ₹3,91,50,000 (Rupees Three Crore Ninety One Lakh Fifty Thousand) at a share price of ₹261 per share.

Regarding the objective of the acquisition, Hazoor Multi Projects stated it is for economies of scale and diversification for better growth and expansion.

As per the stock exchange filing, the acquisition of Square Port Shipyard Private Limited would not fall within related party transactions.

Square Port Shipyard Private Limited was incorporated on November 29, 2022, and is involved in the industry of manufacturing and repairing vessels and others. The company has a registered office in Kolkata. The authorised capital of Square Port Shipyard Private Limited is ₹1,500,000, and its paid-up capital is ₹1,500,000.

Square Port Shipyard Private Limited aims to engage in a wide range of activities related to manufacturing, operating, and trading in various types of ships and vessels, including transportation services for goods and passengers nationally and internationally. This includes activities such as design, construction, maintenance, and distribution across diverse modalities and specifications.

About Hazoor Multi Projects Limited

Hazoor Multi Projects Limited was incorporated in 1992. The company is involved in the business of Infrastructure and Real Estate.

The company was initially involved in the construction of residential projects. In FY 2021, the company changed its line of business. Currently, it is now primarily involved in infrastructural development business and works as a subcontractor to execute several national highway road projects awarded by government authorities, which include the National Highways Authority of India and Maharashtra State Road Development Corporation Ltd. Apart from this, Hazoor Multi Projects Limited has also started the EPC contracting business.

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