Hittco Tools Ltd Boosts Authorized Share Capital Amid Corporate Restructuring
Hittco Tools Limited announced several significant resolutions following its Board of Directors meeting held on July 15, 2026. The board considered and approved major changes related to the company's capital structure and initiated procedures for shareholder approval through a postal ballot and remote e-voting process.A primary resolution approved was the increase in the Authorized Share Capital of the company. The existing Authorized Share Capital stood at 15,00,00,000 Equity Shares of ~10/each (Rupees Fifteen Crore), which is being increased to 35,00,00,000 Equity Shares of ~10/each (Rupees Thirty-Five Crore). This increase involves the creation of 2,00,00,000 additional Equity Shares.
The board also approved the alteration of Clause V of the Memorandum of Association to reflect this increased Authorized Share Capital. Furthermore, the company approved a draft Postal Ballot Notice and its Explanatory Statement, seeking members' approval through Remote E-voting regarding these Ordinary Resolutions.
Key Dates and Appointments for Voting Process
To ensure a fair and transparent process, several appointments and timelines were set forth during the meeting. The Cut-off Date for determining the eligibility of Members entitled to receive the Postal Ballot Notice was fixed as Friday, July 10, 2026.CS Manjeet, Proprietor of Manjeet & Associates (Membership No. 11588), was appointed as the Scrutinizer responsible for conducting the Postal Ballot process through Remote E-voting. Central Depository Services (India) Limited (CDSL) was also approved as the agency to provide the necessary Remote E-voting facility.
The company provided a detailed schedule for the Remote E-voting:
| Particulars | Details |
|---|---|
| Commencement of Remote E-voting | Thursday, July 16, 2026 at 9:00 A.M. (IST) |
| End of Remote E-voting | Sunday, August 14, 2026 at 5:00 P.M. |
| Declaration of Results | On or before Tuesday, August 18, 2026 |
Mr. Surendra Bhandari, Managing Director of the Company, was authorized to execute necessary actions related to this process. His authority includes issuing and dispatching the Postal Ballot Notice to members, executing forms, and taking all incidental consequential actions required for the completion of the Postal Ballot procedure.
Stock Price Movement
As of 15:24, the share price of Hittco Tools Ltd is dipping slightly to ₹13.00, representing a 0.15% decline. The shares have moved through a broad intraday range, touching a high of ₹13.50 but settling near the lows around ₹12.41.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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