Pursuant to Regulation 32 of SEBI, Regulations,2015, please find enclosed the statement of Deviation or Variation in utilization of funds raised through Preferential issue of Equity Shares ....
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Hittco Tools Limited allotted 4,45,000 equity shares at Rs. 13.92 per share (including Rs. 3.92 premium) through a preferential issue, raising Rs. 61.94 lakh. The funds were approved by shareholders on February 18, 2026 and allotted on March 28, 2026. The original allocation was Rs. 41.06 lakh for business expansion and Rs. 20.88 lakh for general corporate purposes. However, the company reports nil utilization of funds for both objects as of March 31, 2026. The company confirms there is no deviation or variation in the use of funds. Both the Audit Committee and auditors have no comments on the statement.
The shares were fully subscribed and funds received, but the company has not yet deployed the capital into its stated objects. Shareholders should monitor future quarterly filings for deployment progress.