Notice of Postal Ballet of Hittco Tools Limited
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Awaiting price reaction for this filing.
Hittco Tools Limited has issued a Postal Ballot Notice seeking shareholder approval to allot up to 4,45,000 equity shares of face value Rs. 10 each at Rs. 13.92 per share, aggregating to about Rs. 61.94 lakhs on a preferential basis. Allottees include Yash Vardhan Bhandari from the Promoter Group (2,95,000 shares worth Rs. 41.06 lakhs) and Shreyans Bhandari, a Non-Promoter (1,50,000 shares worth Rs. 20.88 lakhs). The issue price of Rs. 13.92 is the floor price determined under SEBI ICDR Regulations (10-day VWAP, which is higher than the 90-day VWAP of Rs. 13.64). The company also proposes to cancel a previous Special Resolution on preferential allotment passed at the AGM on 30.09.2025, as the Board decided not to proceed with that earlier plan. Remote e-voting runs from 20 January 2026 to 18 February 2026, and funds raised will be used for working capital, expansion, debt repayment, and general corporate purposes.
If approved, the Promoter Group's holding will rise modestly (Yash Vardhan Bhandari's stake goes from 1.92% to 6.26%), with no change in control of the company. Existing public shareholders will see a small dilution, and the cancellation of the earlier resolution signals a revised and smaller capital-raising plan than previously envisaged.