Approval of Preferential Allotment of Equity Shares to promoter and non -Promoter.
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On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 0.7 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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On 19th January 2026, the board of Hittco Tools approved a preferential allotment of up to 4,45,000 equity shares — 2,95,000 shares to promoter Yash Vardhan Bhandari at Rs. 13.92 per share and up to 1,50,000 shares to non-promoter Mr. Shreyans Bhandari at Rs. 15.92 per share (face value Rs. 10). The board also approved forfeiture of 2,47,600 partly paid-up shares for non-payment of call money, affecting shareholders like Foresight Financial Services Ltd (1,96,200 shares) and others. Additionally, a prior special resolution for a similar preferential issue approved at the 2025 AGM has been cancelled and will be re-filed. The company also entered into a 5-year related-party agreement to rent manufacturing equipment from Hittco Industries Private Limited (promoter group) at Rs. 9,95,000 per year plus tax, and appointed Mr. Ranjan Kotekar as an Additional Independent Director.
The preferential issue will dilute existing shareholders, while share cancellation from forfeiture partially offsets the dilution. The related-party machinery rental is a moderate recurring expense tied to production capacity, which may raise governance concerns for retail investors.