Corrigendum to reverse book building outcome: 100 physical shares rejected, delisting offer remains successful
Hitech Corporation received a corrigendum from Kreo Capital to the reverse book building outcome.
By ScoutQuest · · 2 min read
- Rejected physical shares
- 100 physical shares tendered were rejected as documents were not in order
- Validly tendered shares
- 30,09,593
- Post-acquisition shareholding
- ~1.58 crore Equity Shares, or 91.96%
Hitech Corporation has informed the exchanges that it received a corrigendum dated 22nd October, 2026 from Kreo Capital Private Limited, the Manager to the Delisting Offer, to the outcome of the Reverse Book Building Process (RBBP) dated 13th October, 2026 and to the Post Offer Public Announcement dated 15th October, 2026.
What the correction says
- The earlier outcome letter had stated that no equity shares held in physical form were tendered in the Delisting Offer.
- The Registrar to the Delisting Offer has now informed that, out of the total ~34.16 lakh Equity Shares with 778 bids received between Rs. 252/- Per Equity Share and Rs. 2000/- Per Equity Share, 100 Equity Shares held in physical form were tendered.
- Those 100 physical shares have been rejected because the documents were not in order.
- As per the updated file, ~30.1 lakh Equity Shares (against ~30.1 lakh Equity Shares stated in the Post Offer PA) were validly tendered at or below the Exit Price.
Who is acquiring
The offer is being made by Kreo Capital Private Limited for and on behalf of Geetanjali Trading and Investment Private Limited, the Acquirer. The Acquirer shall acquire all Equity Shares tendered through valid Bids at or below the Exit Price.
Shareholding after the acquisition
- The Acquirer together with the Promoters and other members of the Promoter Group shall hold ~1.58 crore Equity Shares (against 1,57,94,173 stated in the Post Offer PA).
- That is 91.96 % of the fully paid up Equity Shares of the Company.
- Excluding shares as specified in Regulation 21(a) of the SEBI Delisting Regulations, it is 92.82 %.
- This exceeds the minimum number of Equity Shares required for the Delisting Offer to be successful in terms of Regulation 21(a).
Status of the offer
The letter states that the Delisting Offer continues to be successful.
What this means for a retail reader
- The correction changes the validly tendered tally by 100 shares compared with what was stated earlier.
- Only bids that were valid and at or below the Exit Price are to be acquired by the Acquirer.
- The 100 physical shares that were tendered do not form part of the valid tenders because the documents were not in order.
Also from Hitech Corporation
Delisting offer deemed successful; exit price set at Rs. 426 per equity share
15 Oct 2026
Post Offer Public Announcement received: delisting offer successful, exit price fixed at Rs. 426/- per share
15 Oct 2026
Delisting offer reverse book building closes; discovered price Rs. 425 per share, promoter holding crosses 90%
13 Oct 2026
More numbers
- Equity Shares validly tendered at or below Exit Price (updated)30,09,593 Equity Shares
- Equity Shares earlier shown as validly tendered30,09,693 Equity Shares
- Equity Shares in bids received in the RBBP34,16,208 Equity Shares
- Acquirer with Promoters and Promoter Group holding post acquisition1,57,94,073 Equity Shares
- Acquirer with Promoter Group stake in fully paid up Equity Shares91.96 %
- Stake excluding shares under Regulation 21(a)92.82%
- Lower end of bid price rangeRs. 252/- Per Equity Share
- Upper end of bid price rangeRs. 2000/- Per Equity Share
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