StockWatch
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Industrial Products
Regulatory30 May 2026, 03:42 pm

Hittco Tools: Deviation Statement for Preferential Issue

AI Summary

Hittco Tools Ltd has filed a statement of deviation/variation in the utilization of funds raised through a preferential issue of equity shares for the quarter ended March 31, 2026. The company raised ₹61,94,400 by allotting 4,45,000 equity shares at ₹13.92 per share. The funds were allocated for business expansion (₹41,06,000) and general corporate purposes (₹20,88,400). There was no deviation in the amount of funds utilized for the quarter.

Key Highlights

  • Hittco Tools reports no deviation in fund utilization for the quarter ended March 31, 2026.
  • Funds raised through preferential issue: ₹61,94,400 from 4,45,000 equity shares.
  • Allocated funds: ₹41,06,000 for business expansion and ₹20,88,400 for general corporate purposes.
  • Audit committee and auditors reported no comments on fund utilization.