Hittco Tools Limited scheduled a Board meeting for October 22, 2026, to consider raising funds via equity shares and convertible warrants. The agenda also includes a company name change, forming a UAE subsidiary, and acquiring a stake in an unlisted firm.

The proposal involves augmenting financial resources through the issue and allotment of equity shares, convertible equity warrants, or other permissible securities. This capital infusion is intended to support the proposed acquisition of a stake in an unlisted company using the raised funds.

Strategic expansion plans

The Board will evaluate the formation of a wholly owned subsidiary in the United Arab Emirates (UAE). This move is subject to applicable laws and regulatory requirements. Additionally, the alteration of the Main Object Clause of the Memorandum of Association will be considered to align with these new business activities.

Governance and compliance steps

To facilitate these changes, the Board will propose convening an Extra-Ordinary General Meeting (EGM) for member approval. A scrutinizer will be appointed to conduct the voting process at the EGM. The Trading Window for dealing in securities remains closed from October 16, 2026, until after the Board meeting concludes.

Agenda highlights

The company stated that all proposals are subject to statutory approvals, including those from members and regulatory authorities. The specific details of the acquisition target were not disclosed in the intimation.

Hittco Tools has cancelled its Board of Directors meeting originally scheduled for September 18, 2026. The Bangalore-based tool manufacturer cited unavoidable circumstances for the decision.

The company had previously postponed the meeting from September 11 to September 18. The agenda for the now-cancelled session included significant corporate actions such as a potential name change, equity fundraising, and the formation of a subsidiary in the United Arab Emirates.

Updated Status

In a communication dated September 16, 2026, Hittco Tools Limited informed the BSE Limited that the meeting would not take place. The company stated it will issue a fresh intimation regarding the date and time of the Board Meeting if and when it is rescheduled.

This update supersedes the earlier announcement regarding the postponement to September 18. The trading window for insiders remains closed as per the code of conduct for fair disclosure under SEBI LODR Regulations.

Agenda Items

The matters intended for consideration at the cancelled meeting included:

• Alteration of the Main Object Clause in the Memorandum of Association (MOA).
• Raising funds through the issue of Equity Shares, Convertible Equity Warrants, or other securities.
• Approval of a change in the company’s name.
• Consequential alterations to the Articles of Association (AOA).
• Incorporation of a subsidiary in the UAE.

The company has appointed a scrutinizer to conduct the voting process at the proposed Extra-Ordinary General Meeting (EGM), ensuring compliance with applicable legal provisions.