Hittco Tools Limited Issues Corrigendum for Preferential Share Issue Worth ₹61.94 Lakh

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. HITTCO TOOLS LIMITED has announced the approval of its unaudited standalone financial results for the quarter ended December 31, 2025. The Board of Directors convened on February 14, 2026, at the company's registered office in Bangalore to review and approve the quarterly financial performance. Board Meeting Outcomes The Board meeting addressed several key matters during the session that ran from 1:00 PM to 3:35 PM. The primary agenda included the consideration and approval of unaudited standalone financial results pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Meeting Details: Information Date: February 14, 2026 Duration: 1:00 PM to 3:35 PM Venue: Registered Office, Bangalore Quarter Ended: December 31, 2025 Regulatory Compliance and Disclosures The company has fulfilled its regulatory obligations by submitting the unaudited financial results along with Limited Review Reports prepared by the company's auditors. As mandated by Regulation 47 of the Listing Regulations, HITTCO TOOLS will publish extracts of the financial results in newspapers to ensure public disclosure. Related Party Transactions During the Board meeting, directors also discussed transactions with related parties conducted in the ordinary course of business under Section 188 of the Companies Act, 2013. This review ensures compliance with corporate governance standards and regulatory requirements for related party dealings. Trading Window Status The company has announced that its trading window will remain closed beyond the typical 48-hour period following financial results declaration. While the window would normally open 48 hours after the announcement of unaudited financial results, it will stay closed due to an ongoing preferential allotment of shares process under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Company Information HITTCO TOOLS LIMITED operates from its registered office located at No-17-C, KIADB Industrial Area, 2nd Phase, Peenya, Bangalore-560058. The company trades on BSE with scrip code 531661 and ISIN INE863C01019. Managing Director Surendra Bhandari (DIN: 00727912) signed the regulatory filing announcing these developments. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. 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