Hittco Tools531661Stake acquisition deal
Board clears up to Rs. 21 crore of stakes in two unlisted firms, pref issue and name change
Board approved up to Rs. 21 crore of investments in two unlisted firms: up to Rs. 9 crore for at least 75% of Sanija Hotels and up to Rs. 12 crore for at least 50% of Multiplex Capital, funded from a proposed preferential issue.
By ScoutQuest · · 3 min read
Rs. 21,00,00,000/-Total approved investment in unlisted companies
Investment in Multiplex Capital LimitedRs. 12,00,00,000/-
Investment in Sanija Hotels Private LimitedRs. 9,00,00,000/-
- Investment in Sanija Hotels
- up to Rs. 9 crore for at least 75% of paid-up equity share capital
- Investment in Multiplex Capital
- up to Rs. 12 crore for at least 50% of paid-up equity share capital
- Preferential issue terms
- up to 59.4 lakh equity shares at Rs. 14.50 per share; aggregate proceeds up to Rs. 23.2 crore
Board meeting outcome
Hittco Tools' board met on Monday, October 26, 2026, after the meeting originally scheduled for October 22, 2026 was adjourned and rescheduled, and approved a set of proposals. Each is subject to the approval of the Members of the Company, the stock exchange(s) and other applicable statutory and regulatory authorities.
Stakes in two unlisted companies
- Sanija Hotels Private Limited: investment of up to Rs. 9 crore, with the proposed acquisition/subscription of at least 75% of its paid-up equity share capital
- Multiplex Capital Limited: investment of up to Rs. 12 crore, with the proposed acquisition/subscription of at least 50% of its paid-up equity share capital
- Taken together, the board approved investments of up to Rs. 21 crore, to be made by utilising the funds the company raises, subject to finalisation of transaction terms and receipt of approvals
How the money is proposed to be raised
- Preferential issue of up to 59.4 lakh fully paid-up equity shares at an issue price of Rs. 14.50 per share, for cash
- A preferential issue of convertible warrants, each entitling the holder to an equivalent number of fully paid-up equity shares on exercise of the conversion option
- The equity shares and warrants taken together are expected to result in aggregate issue proceeds of up to Rs. 23.2 crore, subject to subscription and exercise of the warrants
Possible change in control
- The proposed acquisition of equity shares by Mr. Irfan Chapra, Mrs. Reshma Chapra and Mrs. Mubina Sofia is expected to result in an acquisition of shares and voting rights and a change in control of the company
- The proposed acquisition is accordingly subject to the SEBI SAST Regulations, including applicable open offer requirements
- Their proposed classification as Promoters is subject to completion of the relevant transactions and compliance with applicable laws
New business lines proposed in the objects clause
- Hospitality and food and beverage, including hotels, restaurants, cloud kitchens and catering
- Leasing and rental of vessels and automobiles, including electric vehicles
- Real estate development and allied activities
- Stock broking and capital market related activities
Subsidiary in the UAE
- The board approved incorporation of a wholly owned subsidiary in the United Arab Emirates proposed to be named "Chapra Emerging LLC", for trading and manufacturing of perfumes and related lines of business; it is to be wholly owned by the company
Other board decisions
- An enabling approval under Section 186 of the Companies Act, 2013 for loans, guarantees, securities and investments in other body corporates
- Change of name from "Hittco Tools Limited" to "Chapra Emerging Limited" or any other name approved by the Central Registration Centre, subject to necessary approval
- An Extraordinary General Meeting convened on Tuesday, November 17, 2026 at 11 a.m. to seek members' approval for these matters
- M/s. Manjeet & Associates, Practising Company Secretary, appointed as scrutinizer for the e-voting and voting at the EGM
What a shareholder can track
- Every proposal above is a board approval that still needs members' approval at the EGM, so the shareholding pattern, the new promoters and the new businesses take effect only after those steps
- The preferential issue brings in new equity shares, and the warrants bring in more shares if converted, which will change who owns how much of the company
- The change in control carries an open offer process under the SEBI SAST Regulations, which runs alongside the preferential allotment
Also from Hittco Tools
Open offer for 26.00% of expanded capital at Rs. 15.30 per fully paid share
27 Oct 2026
Board approves new business objects, preferential issue of shares and warrants, UAE subsidiary and name change
26 Oct 2026
Board approves preferential issue of equity shares and convertible warrants; allottees expected to bring change in control
26 Oct 2026
More numbers
- Preferential issue of equity shares59,40,000
- Issue price per equity shareRs.14.50/-
- Aggregate proceeds from equity shares and warrantsRs.23,20,00,000/-
- Total approved investment in unlisted companiesRs. 21,00,00,000/-
- Investment in Sanija Hotels Private LimitedRs. 9,00,00,000/-
- Proposed stake in Sanija Hotels paid-up equity75%
- Investment in Multiplex Capital LimitedRs. 12,00,00,000/-
- Proposed stake in Multiplex Capital paid-up equity50%
Source: BSE · 26 Oct 2026
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