Hitech Corporation526217Delisting offer update

Post Offer Public Announcement received: delisting offer successful, exit price fixed at Rs. 426/- per share

Hitech Corporation has received the Post Offer Public Announcement on the delisting of its equity shares from BSE and NSE.

By ScoutQuest · Thu 15 Oct 2026, 2:40 PM IST · 2 min read

91.96%Promoter group holding acquisition

Promoter group holding acquisition: 91.96%.

Exit Price: Rs. 426/- per equity share; floor price Rs. 252/-, discovered price Rs. 425/-
Shares Validly Tendered: 30,09,693 shares were validly tendered at or below the exit price, above the minimum 25,29,733 offer shares required
Promoter Group Holding Post Offer: The promoter group's holding is to rise to 91.96% of the fully paid-up equity shares

Delisting offer outcome

The Post Offer Public Announcement has been issued by Kreo Capital Private Limited, the manager to the delisting offer, on behalf of Geetanjali Trading and Investments Private Limited, a member of the promoter group. It sets out the outcome of the reverse book building process (RBBP) for the voluntary delisting of Hitech Corporation's equity shares from BSE and NSE.

Prices in the offer

Floor price: Rs. 252/- per equity share
Discovered price through the RBBP: Rs. 425/- per equity share
Final exit price declared and accepted: Rs. 426/- per equity share

Success of the delisting offer

The offer was for 43,91,220 equity shares held by public shareholders. The delisting would be deemed successful only if a minimum of 25,29,733 offer shares were validly tendered at or below the exit price and acquired by the acquirer.

In the RBBP, 30,09,693 equity shares were validly tendered at or below the exit price, which is higher than that minimum. After the acquisition, the acquirer together with promoters and the promoter group will hold 91.96% of the fully paid-up equity shares of the company. The update states the delisting offer is therefore deemed successful.

What it means for shareholders who tendered

Public shareholders who validly tendered their shares at or below the exit price of Rs. 426/- per equity share will be paid that price; the payment of consideration is to be made on or about October 23, 2026.
Shares of shareholders whose bids were rejected because their bid price was higher than the exit price will be returned to them on or about October 23, 2026. Such shareholders are asked to keep their depository participant account active and unblocked.

Shareholders who did not participate

Those who did not participate, or whose bids were unsuccessful, are described as Residual Shareholders. They can offer their shares to the acquirer at the exit price during the Exit Window, which runs for 1 (one) year following the date of delisting from the stock exchanges. A separate Exit Letter of Offer will be sent to them, and the requisite documents must be submitted to the Registrar during that window.

Points to note

The exit price of Rs. 426/- per equity share is above the floor price of Rs. 252/- per equity share and marginally above the discovered price of Rs. 425/- per equity share.
The number of shares validly tendered, 30,09,693, was higher than the minimum required, 25,29,733 offer shares.
Kreo Capital Private Limited is the manager to the offer and MUFG Intime India Private Limited is the registrar to the offer.

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