Board approves Rs 23.20 crore raise, open offer and two unlisted-company deals
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 0.2 pts more 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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The board approved plans to raise up to Rs 23.20 crore by issuing shares and warrants that can convert into shares. The three proposed promoters would gain control, triggering an open offer. Hittco also plans up to Rs 21 crore for at least 75% of Sanija Hotels and at least 50% of Multiplex Capital, plus a Rs 3 crore UAE subsidiary. A shareholder meeting is set for November 17, 2026 to approve the proposals, subject to other clearances.
Diversification may aid growth, but new equity could dilute holders. Control change and open offer may increase volatility; approvals are pending.