HITTCO TOOLS : BOARD APPROVES RS 23.20 CR PREFERENTIAL ISSUE, CONTROL CHANGE

• Board approved up to 59.4 lakh equity shares at ₹14.50/share (₹8.61 Cr) and up to 1.006 Cr convertible warrants at ₹14.50/warrant (₹14.59 Cr), aggregating up to ₹23.20 Cr. • Proposed promoters Irfan Chapra, Reshma Chapra and Mubina Sofia to get 52 lakh shares for ₹7.54 Cr, representing 41.45% of emerging voting capital; triggers open offer under SAST. • On full conversion of 63 lakh promoter warrants, proposed promoters will hold 1.15 Cr shares or 50.88% of post-issue fully diluted capital. • Board approved investments of up to ₹9 Cr for at least 75% of Sanija Hotels and up to ₹12 Cr for at least 50% of Multiplex Capital; both target completion by March 31, 2027. • Board approved 100%-owned UAE subsidiary Chapra Emerging LLC with investment up to ₹3 Cr for perfume manufacturing/trading; Section 186 limit up to ₹50 Cr. • Board approved MOA amendment to enter hospitality/F&B, vehicle/vessel leasing, real estate and stock broking; proposed name change to Chapra Emerging Limited.

Hittco Tools Ltd

Open attachment

← Back to feed