Irfan Chapra and Associates Announce 26% Open Offer for Hittco Tools
Hittco Tools Limited has announced an open offer through its proposed acquirers, Irfan Ismail Chapra, Reshma Irfan Chapra and Mubina Gulzar Sofia.
The offer covers up to 58,77,261 equity shares, representing 26.00% of the company's expanded voting share capital on a fully diluted basis. The offer price is Rs 15.30 per fully paid-up equity share and Rs 10.30 per partly paid-up equity share.
The public announcement has been made under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following a proposed preferential issue expected to result in the acquisition of shares and voting rights and a change in control of the company.
Hittco Tools Preferential Allotment and Triggering Event
The board of directors of Hittco Tools approved a proposed preferential issue of up to 59.40 lakh equity shares and 1.006 crore convertible warrants at an issue price of Rs 14.50 per share or warrant, subject to shareholder and other applicable approvals.
Under the proposed allotment, the three acquirers are set to receive a total of 52.00 lakh equity shares and 63.00 lakh convertible warrants. The proposed acquisition of shares and voting rights triggers the open offer requirements under Regulations 3(1) and 4 of the SEBI takeover regulations.
The preferential issue and the associated change in control remain subject to applicable approvals and regulatory requirements. The proposed promoter classification of the acquirers is also conditional upon completion of the relevant transactions and compliance with applicable laws.
Hittco Tools Open Offer Highlights
| Particulars | Details |
|---|---|
| Company | Hittco Tools Limited |
| BSE scrip code | 531661 |
| Acquirers | Irfan Ismail Chapra, Reshma Irfan Chapra and Mubina Gulzar Sofia |
| Open offer size | Up to 58,77,261 equity shares |
| Offer size as a percentage | 26.00% of expanded voting share capital on a fully diluted basis |
| Offer price for fully paid-up shares | Rs 15.30 per share |
| Offer price for partly paid-up shares | Rs 10.30 per share |
| Proposed preferential issue | Up to 59.40 lakh equity shares and 1.006 crore convertible warrants |
| Preferential issue price | Rs 14.50 per share or warrant |
| Equity shares proposed for the acquirers | 52.00 lakh shares |
| Convertible warrants proposed for the acquirers | 63.00 lakh warrants |
| Triggering event | Proposed preferential allotment and acquisition of shares and voting rights |
| Proposed promoter classification | Subject to completion of the transactions and regulatory compliance |
| Delisting intention | The acquirers have stated that they do not intend to delist Hittco Tools pursuant to the open offer. |
| Applicable regulations | SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 |
What to Watch Next
- Subsequent BSE filings may provide updates on shareholder approvals, the proposed preferential allotment and the open offer process.
- Further disclosures may clarify the offer timetable, responses from public shareholders and completion of the proposed transactions.
- Regulatory announcements will be relevant to tracking the proposed promoter classification of the acquirers and any resulting changes in the company's shareholding and voting rights.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
Other News
Tata Motors’ CV Arm Secures 89.42% Stake in Iveco Group Through Tender Offer
TML CV Holdings B.V., a subsidiary of Tata Motors, has received acceptances for 238.16 million common shares of Iveco Group N.V. under its voluntary tender offer. The shares represent 89.42% of Iveco’s common share capital, excluding treasury shares, allowing the offer to meet its threshold condition. The total consideration for the accepted shares stands at approximately €3.43 billion, with payment scheduled for October 30, 2026.
HCLTech Partners With Rapidus Corporation for Next-Generation Semiconductor Technologies
HCL Technologies Limited (HCLTech) has announced a strategic partnership with Japan's Rapidus Corporation to support its next-generation semiconductor engineering requirements. As part of the collaboration, HCLTech has inaugurated two dedicated development centers in Bengaluru and Hubli, India. The facilities will provide specialized semiconductor engineering services and support Rapidus' evolving semiconductor engineering requirements. The partnership will also focus on developing Indian engineering talent for Rapidus' operations in Japan, with the aim of accelerating chip adoption and reducing time-to-market.
PNGS Reva Q2 FY27 Profit Rises 83.6% to Rs 23.29 Crore; Revenue Grows 17%
PNGS Reva Diamond Jewellery Limited reported an 83.6% year-on-year (YoY) increase in profit for the quarter ended September 30, 2026, while revenue from operations rose 17% YoY. The company reported revenue from operations of Rs 120.54 crore and profit for the period of Rs 23.29 crore in Q2 FY27. It also expanded its retail presence to 34 SIS stores with P. N. Gadgil & Sons Limited and 5 exclusive brand stores as of October 26, 2026.