Hittco Tools: Open Offer for 26% stake at ₹15.30 per share
Navigant Corporate Advisors Ltd, acting as the 'Manager to the Offer', has announced a public announcement for an open offer to acquire up to 58,77,261 equity shares of Hittco Tools Limited. This represents 26.00% of the expanded equity share capital. The offer price is ₹15.30 per fully paid-up share and ₹10.30 per partly paid-up share. The open offer is triggered by the approval of the Target Company's Board of Directors to issue equity shares and convertible warrants to the Acquirers (Irfan Ismail Chapra, Reshma Irfan Chapra, and Mubina Gulzar Sofia).
Key Highlights
- Open offer to acquire 26% of Hittco Tools' expanded equity.
- Offer price set at ₹15.30 for fully paid and ₹10.30 for partly paid shares.
- Triggered by preferential allotment of shares and warrants.
- Navigant Corporate Advisors appointed as Manager to the Offer.
Price Impact
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