Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hittco Tools Limited's board, at its meeting on 28 March 2026, approved the allotment of 4,45,000 equity shares on a preferential basis at Rs. 13.92 per share (face value Rs. 10, premium Rs. 3.92), aggregating to Rs. 61.94 lakh. The shares were allotted to promoter Yash Vardhan Bhandari (2,95,000 shares for Rs. 41.06 lakh) and non-promoter Shreyans Bhandari (1,50,000 shares for Rs. 20.88 lakh). This raises the paid-up equity share capital from 61,59,848 to 66,04,847 shares. The board also noted the resignations of Independent Director Rajeev Shantilal Desai and Chairman Rajeev Gobindram Hassanand, both citing other personal and professional commitments, and appointed Surendra Bhandari as the new Chairman effective the same day.
The preferential allotment is largely promoter-driven (66% of the issue to promoter Yash Vardhan Bhandari), increasing promoter holding from 1.93% to 6.26% and resulting in about 6.7% equity dilution for existing non-promoter shareholders. The simultaneous exit of the Independent Director and former Chairman, replaced by Surendra Bhandari (who is father/grandfather of existing directors and is also Managing Director), is a notable governance change that shareholders should monitor.