HITTCO TOOLS Board Meeting Set for March 28 to Finalize Share Allotment Process

HITTCO TOOLS LIMITED has scheduled a board meeting for March 28, 2026, to consider the allotment of equity shares following its recent BSE approval for a preferential issue. The company announced the meeting date after securing in-principle approval from BSE Limited for issuing shares to selected investors on a preferential basis.

Board Meeting Details and Agenda

The board meeting is scheduled for Saturday, March 28, 2026, at 11:00 AM at the company's registered office. The primary agenda includes consideration and approval of the share allotment process:

Parameter: Details Meeting Date: March 28, 2026 Time: 11:00 AM Venue: Registered Office Primary Agenda: Share Allotment Approval Trading Window: Closed during meeting period

The meeting will address the allotment of 4,45,000 equity shares of face value ₹10 each at an issue price of ₹13.92 per share, including a premium of ₹3.92, on a preferential basis to proposed allottees.

BSE Approval and Share Specifications

BSE Limited had earlier granted approval through letter no. LOD/PREF/MV/FIP/1900/2025-26 dated March 17, 2026. The approval encompasses specific share parameters that will be formalized during the upcoming board meeting:

Parameter: Details Number of Shares: 4,45,000 equity shares Face Value: ₹10 each Issue Price: ₹13.92 per share Premium: ₹3.92 per share Allottees: Promoters and Non-Promoters

Trading Window Closure and Compliance

In accordance with the company's Code of Conduct for Prevention of Insider Trading, the trading window for dealing in HITTCO TOOLS LIMITED securities will remain closed during the meeting period. The window will reopen 48 hours after the declaration of the meeting outcome, ensuring compliance with insider trading regulations.

The company must fulfill comprehensive regulatory compliance requirements outlined by BSE, including adherence to the Companies Act 2013, Securities Contracts Regulation Act 1956, and various SEBI regulations. BSE has emphasized that the in-principle approval should not be construed as approval for listing of the securities, requiring separate compliance for listing requirements.

Post-Meeting Obligations

Following the board meeting and allotment approval, HITTCO TOOLS LIMITED must submit a listing application within twenty days from the allotment date, as specified in SEBI regulations. The company must also ensure that proposed allottees provide undertakings confirming they will not engage in intra-day trading in the company's scrip before allotment and will not make any sales until the allotment date.

Hittco Tools Limited has issued a corrigendum to its postal ballot notice dated 19.01.2026, providing additional clarifications and details regarding the proposed preferential issue of equity shares. The corrigendum addresses observations received from BSE Limited following the company's application for in-principle approval.

Preferential Issue Details

The company proposes to issue up to 4,45,000 equity shares of face value ₹10 each at an issue price of ₹13.92 per share. The total amount to be raised through this preferential issue aggregates to ₹61,94,400.

Parameter Details Number of Shares 4,45,000 Face Value ₹10 per share Issue Price ₹13.92 per share Premium ₹3.92 per share Total Amount ₹61,94,400

Utilization of Proceeds

The company has outlined specific objects for utilizing the issue proceeds with defined timelines:

Sr.No Particulars Amount Timeline 1 Expansion of Business ₹41,06,000 Within 24 months 2 General Corporate Purpose ₹20,88,400 Within 24 months Total ₹61,94,400

The expansion of business includes working capital requirements, increasing production capacity, and scaling operations. General corporate purposes encompass meeting ongoing corporate exigencies, contingencies, and other permissible uses under applicable laws.

Subscription Details

Two individuals have expressed their intent to subscribe to the preferential issue:

Yashvardhan Bhandari, who serves as Promoter, Director, and CFO, intends to subscribe to 2,95,000 equity shares aggregating to ₹41,06,400. Shreyans Bhandari, classified as a non-promoter, will subscribe to 1,50,000 shares.

Name Current Shares Current % Proposed Allotment Post-Issue Shares Post-Issue % Status Yashvardhan Bhandari 1,18,700 1.93% 2,95,000 4,13,700 6.26% Promoter Shreyans Bhandari 140 0.002% 1,50,000 1,50,140 2.27% Non-Promoter

Pricing and Regulatory Compliance

The issue price of ₹13.92 per share has been determined based on SEBI ICDR Regulations. The floor price represents the higher of the 90 trading days' Volume Weighted Average Price of ₹13.64 or the 10 trading days' Volume Weighted Average Price of ₹13.92 preceding the relevant date of 19th January, 2026.

The subscription shares will be allotted within 15 days from the date of shareholder approval, subject to regulatory approvals. The shares will be subject to lock-in provisions as specified under Chapter V of SEBI ICDR Regulations and will rank pari passu with existing equity shares.

Timeline and Compliance

The postal ballot voting commenced on 20.01.2026 at 09:00 A.M. IST and is scheduled to conclude on 18.02.2026 at 05:00 P.M. IST. The company has confirmed compliance with continuous listing conditions and eligibility for preferential issue under SEBI regulations. Neither the company nor its directors and promoters are classified as wilful defaulters or fugitive economic offenders.

The preferential issue will not result in any change of control or management of the company. Upon completion, the paid-up equity share capital will increase from ₹6,03,60,470 to ₹6,48,10,470, comprising 66,04,847 equity shares of ₹10 each.

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