Hittco Tools: Open Offer Draft Letter of Offer Submitted

Navigant Corporate Advisors Ltd, acting as the Manager to the Offer, has submitted a Draft Letter of Offer to BSE for the equity shareholders of Hittco Tools Ltd. This document, submitted to SEBI, details an open offer by Irfan Ismail Chapra, Reshma Irfan Chapra, and Mubina Gulzar Sofia to acquire up to 58,77,261 equity shares, representing 26.00% of the expanded equity and voting share capital. The offer price is ₹15.30 per fully paid-up equity share and ₹10.30 per partly paid-up equity share. This open offer is being made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for substantial acquisition of shares and change in control. No minimum acceptance level is required, and no statutory approvals are currently needed beyond those detailed in the draft letter.