The 31st Annual General Meeting of the company to be held on Tuesday, the 30th September, 2025 at 11 AM through video conferencing/ other Audio visual means
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Hittco Tools Limited has notified BSE that its 31st Annual General Meeting will be held on 30th September 2025 at 11:00 AM via video conferencing. The agenda includes adoption of audited financial statements for FY 2024-25, re-appointment of Mrs. Madhu Bhandari as Director (retiring by rotation), and appointment of Mr. Manjeet as Secretarial Auditor for 5 years (FY 2025-26 to FY 2029-30). The key item is a special resolution seeking shareholder approval for preferential allotment of 4,45,000 equity shares at Rs. 14.47 per share, raising approximately Rs. 64.39 lakhs. Of these, 2,95,000 shares will go to promoter Mr. Yash Vardhan Bhandari (Whole-time Director and CFO) for Rs. 42.69 lakhs, and 1,50,000 shares to non-promoter Mr. Sharad Bhandari for Rs. 21.71 lakhs. The price is set at the higher of 90-day or 10-day VWAP as required by SEBI ICDR regulations. Stated purpose includes expansion, working capital, infrastructure, and debt reduction.
The preferential allotment represents a small capital raise of about Rs. 64.39 lakhs, which is modest in size but signals promoter commitment to the company since the largest portion goes to a promoter-director. Shareholders should evaluate this as a related-party transaction, as the major allottee is a director and CFO. The dilution from 4,45,000 new shares is relatively limited but will slightly reduce existing shareholders' proportionate ownership.