Approval of Forfeiture of Equity shares.
Price
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Awaiting price reaction for this filing.
Hittco Tools' board, meeting on 19 January 2026, approved a preferential allotment of up to 4,45,000 equity shares of face value Rs. 10: 2,95,000 shares to promoter Yash Vardhan Bhandari at Rs. 13.92 per share and 1,50,000 shares to non-promoter Shreyans Bhandari at Rs. 15.92 per share, both at a premium to face value. The board also approved forfeiture of 2,47,600 partly paid equity shares due to non-payment of call money, affecting holders such as Foresight Financial Services (1,96,200 shares), Bharat R Trivedi (39,100), Sumasian Investments (8,200), HN Nagaraj (4,000), and V Chandra (100). A previous special resolution passed at the 30 September 2025 AGM approving a similar preferential issue was cancelled and will be replaced with a fresh resolution. Mr. Ranjan Kotekar was appointed as Additional Independent Director, and a related-party agreement was signed with Hittco Industries Private Limited (promoter group) to rent manufacturing equipment at Rs. 9.95 lakh per year for 5 years.
Forfeiture of partly paid shares is mildly negative, reflecting investors defaulting on call money, while the promoter-led preferential allotment at a premium signals fresh capital support from the promoter group. The related-party rental deal with the promoter group will need shareholder approval and is a routine capacity-expansion move.