Hazoor Multi Projects Loses Control of Vyom Hydrocarbon After CCD Conversion

MT Newswires Live

Feb 18

Hazoor Multi Projects (BOM:532467) said its stake in Vyom Hydrocarbon has fallen below majority following the conversion of compulsorily convertible debentures (CCDs) into equity, leading to a loss of control, according to an Indian bourse filing on Tuesday.

Shares of Hazoor Multi Projects fell nearly 1% in Wednesday's trade.

As a result, Vyom Hydrocarbon and its wholly owned subsidiary, Quippo Oil and Gas Infrastructure, have ceased to be the company's subsidiary and step-down subsidiary, respectively, the filing said.

The dilution relates to CCDs worth 223.0 million rupees issued by Vyom Hydrocarbon to Vyom Geophysical in July 2025, which were converted in December 2025 citing an alleged event of default, according to the filing.

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