Hitech Corporation526217Delisting offer update

Delisting offer reverse book building closes; discovered price Rs. 425 per share, promoter holding crosses 90%

Reverse book building for the voluntary delisting of Hitech Corporation closed on 13 October 2026.

By ScoutQuest · Tue 13 Oct 2026, 6:23 PM IST · 2 min read

92.67%Delisting Offer promoter holding (of Remaining Shares

Delisting Offer promoter holding (of Remaining Shares: 92.67%.

Discovered Price: Rs. 425 per equity share (floor Rs. 252, indicative Rs. 353)
Shares Bid: 34,16,208 equity shares through 778 valid bids
Post-offer Promoter Holding: 92.67% of Remaining Shares, above the 90% mark

What happened

The voluntary delisting offer for Hitech Corporation ran through a reverse book building process from Wednesday, 07 October 2026 to Tuesday, 13 October 2026, when it closed at the end of market hours on BSE and NSE. Kreo Capital Private Limited, manager to the delisting offer, has announced the outcome. The offer was made by Geetanjali Trading and Investments Private Limited, a member of the promoter group, for up to 43,91,220 equity shares of face value Rs. 10 each, being 25.57% of the equity share capital held by public shareholders.

The price points

Floor Price: Rs. 252/- per equity share
Indicative Price: Rs. 353/- per equity share
Discovered Price: Rs. 425/- per equity share

Bids were received between Rs. 252/- per equity share and Rs. 2000/- per equity share.

How the bidding went

Total 34,16,208 equity shares were bid for, through 778 valid bids.
4,31,515 equity shares, across 167 bids, were at prices above the discovered price.
29,84,693 equity shares were successfully bid at or below the discovered price.
No equity shares held in physical form were tendered.

The success condition

The offer is successful in terms of Regulation 21 of the SEBI Delisting Regulations if the Discovered Price of Rs. 425/- per equity share is accepted by the Acquirer. The reason: after the offer, the shareholding of the Acquirer along with the promoters and other promoter group members is 1,57,69,173 equity shares, that is 91.81% of total issued equity shares and 92.67% of the Remaining Shares — above the 90% mark. Before the offer, promoter holding was 1,27,84,480 equity shares, or 74.43% of total issued equity shares and 75.13% of the Remaining Shares.

What happens next

If the Discovered Price is accepted, payment will be made to all successful bidders in line with Regulation 24 and the settlement calendar of BSE Clearing Limited.
Lien on unaccepted or rejected shares will be released in the respective demat accounts of public shareholders.
A post-offer public announcement on the success or failure of the reverse book building process, and on acceptance or rejection of the Discovered Price, will be made in the same newspapers used for the Detailed Public Announcement.

Other figures in the outcome

Total issued equity shares: 1,71,75,700
Shares held by custodians against depository receipts issued overseas: Nil
Shares transferred to the Investor Education and Protection Fund: 1,59,508
Shares held by a trust for an employee benefit scheme: Nil
Shares held by inactive shareholders such as vanishing or struck off companies: Nil
Shares held in terms of sub-regulation (4) of regulation 39 read with Schedule VI of the LODR Regulations: 400
Remaining Shares, that is total issued equity shares excluding shares as per Regulation 21(a): 1,70,15,792
Minimum shareholding to be achieved, 90% of the Remaining Shares: 1,53,14,213

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