HITTCO TOOLS LIMITED

HITTCO TOOLS LIMITED

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Company Overview
Hittco Tools Limited, founded by Surendra Bhandari and Sidharth Bhandari, is a publicly quoted company with active interests in the manufacture of metalworking machinery and equipment. The company was incorporated in January of 1995 and has its registered head office in Bangalore, India. After several reorganization of its business name, Hittco Tools was officially renamed as Hittco Online Technologies Ltd. in May of 2004.
Hittco Online Technologies’ products include threading tools; cutting, twist drills and center drills; shearing machine blades; paper cutting knives; guillotine blades; sheet cutters; and plastic cutters.
The company’s common shares are traded on the Bombay Stock Exchange under the stock code 531661.
Business Summary
The main activity of the company is tool industries.
Description and history
The main activity of the company is tool industries. The Company was incorporated as a public limited company on the 4th January 1995. Its present authorised capital stands at Rs.650 lacs. The Company is promoted by Mr.Surendra Bhandari, his associates and members of his family, and B.I.Holdings (Bangalore) Private Limited. An Investment Company promoted by Mr.Surendra Bhandari.

The Company has filed with the Secretariat of Industrial Approvals (SIA) the Industrial Entrepreneur`s Memorandum vide letter dated the 14th September 1995 for the manufacture of drills and taps and has received the acknowledgement (No. 5588/SIA/IMO/95 dated 10-11-1995).

The Company had initially decided to locate the project in Gummidipoondi in Tamilnadu and has acquired land admeasuring 2.50 acres in the SIPCOT Industrial Complex at Gummidipoondi on lease. The company subsequently decided to alter the project concept and to locate the same at Peenya Industrial Area where the promoters already have an existing base. The project can be segregated into two distinct components: (a) to take on lease the assets of an existing profit-making two decades old proprietory concern of Mr.Surendra Bhandari named Hindustan Tools Corporation as a going concern, and (b) to expand installed capacity and establish facilities to diversify the product range on its own account.

Founded by Surendra Bhandari and Sidharth Bhandari

Business Line
Engaged in the manufacture of metalworking machinery and equipment
Subsidiary

Advisor
SUDHAKAR HEGDE & CO
IPO date
2/20/2001
US SIC Code
3543
Company Address
19, ALI ASKER ROAD

City province or state postal code
560052, BANGALORE
Phone: +91 22250205
Fax: +91 22255894
Country address: INDIA
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