1. Preferential Allotment of Equity Shares to Promoter and Non - Promoter Category (Annexure-A) 2. To consider Valuation Report from Registered Valuer. 3. The Board has approved the ....
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The Board of Hittco Tools approved a preferential allotment of up to 4,45,000 equity shares of Rs. 10 face value — 1,50,000 shares to non-promoter Mr. Shreyans Bhandari at Rs. 15.92 per share and 2,95,000 shares to promoter Yash Vardhan Bhandari at Rs. 13.92 per share, subject to shareholder and regulatory approvals. The Board also approved the forfeiture of 2,47,600 partly paid-up equity shares due to non-payment of call money, with the shares to be cancelled. Mr. Ranjan Kotekar was appointed as an Additional Independent Director. A related-party agreement was signed with Hittco Industries Private Limited (promoter group) to rent manufacturing machinery for Rs. 9.95 lakh per year over 5 years to boost production capacity. An earlier special resolution for preferential allotment passed at the September 2025 AGM has been cancelled and will be reapplied for fresh approval.
The preferential allotment will dilute existing shareholders but strengthens the promoter family's stake. The forfeiture cleans up the share register by removing delinquent holders. The related-party rental deal, while at arm's length, shifts more business ties toward the promoter group.