The Company has allotted Equity Shares pursuant to Conversion of Warrants at the Board Meeting held on 09th June, 2025.
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Hit Kit Global Solutions Ltd has allotted 20,00,000 equity shares (face value Rs. 2 each) to Brillant Properties Private Limited on conversion of an equal number of convertible warrants. The total consideration received was Rs. 30 lakh (Rs. 1.5 per share as the balance 75% payment, with the initial 25% already paid at the time of warrant subscription in June 2024). This is the first tranche of conversion under a preferential allotment approved by shareholders on 24 May 2024. As a result, the company's paid-up equity capital has increased to Rs. 9.68 crore, divided into 4.84 crore equity shares of Rs. 2 each. Post-allotment, Brillant Properties holds 4.13% stake in the company.
The conversion is mildly dilutive for existing shareholders (about 4.3% increase in share count from a single new holder) but brings in Rs. 30 lakh of fresh capital. The stock may see modest technical pressure due to potential supply from the new strategic shareholder, though the issue size is small relative to the company's capital base.