Appointment of Mr Ranjan Kotekar as Additional Independent Director of Hittco tools Limited
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hittco Tools' board, which met on 19 January 2026, approved several actions. It will issue up to 4,45,000 equity shares on a preferential basis — 1,50,000 to non-promoter Shreyans Bhandari at Rs. 15.92 and 2,95,000 to promoter Yash Vardhan Bhandari at Rs. 13.92 — subject to shareholder and regulatory approvals. The board also cancelled a prior special resolution for a similar allotment and will seek a fresh one. It forfeited 2,47,600 partly paid-up shares (face value Rs. 10) for non-payment of call money, mostly held by Foresight Financial Services Ltd. Mr. Ranjan Kotekar was appointed as an Additional Independent Director, and a scrutinizer was named for the postal ballot. Separately, the company entered a 5-year related party deal to rent manufacturing equipment from Hittco Industries Pvt Ltd (a promoter group firm) at Rs. 9.95 lakh per year to boost capacity.
Shareholders should watch the postal ballot on the preferential issue, which will dilute existing stakes and shift the promoter holding higher through Yash Vardhan Bhandari's subscription. The share forfeiture removes unpaid shares from the register, while the promoter group rental deal is a routine related party transaction aimed at improving production capacity.