Hitech Corporation Ltd

Delisting update

• Post Offer Public Announcement received from Kreo Capital Private Limited, manager to the delisting offer.
• Acquirer to acquire up to 43,91,220 equity shares (25.57% of issued capital).
• Post-offer shareholding by Acquirer and Promoters exceeded 9% of total issued equity shares, deemed successful.
• Floor price fixed at Rs 252 per equity share.
• Discovered price determined at Rs 425 per share; final exit price Rs 426 per share.
• Final exit price is higher than the discovered price.
• Delisting deemed successful under SEBI Delisting Regulations.
• Copy of Post Offer Public Announcement will be hosted on the company website.

Delisting terms and outcome

• Post Offer Public Announcement confirms exit price Rs 426 per share.
• Floor price Rs 252; Indicative price Rs 353; Discovered price Rs 425.
• Minimum Acceptance Condition met: 30,09,693 shares tendered at or below Exit Price.
• Post-offer ownership: 1,57,94,173 shares, 91.96% of paid-up capital.
• Shareholders tendering at exit price will be paid around Oct 23, 2026.

Next steps for residual shareholders

• Residual shareholders may tender during a 1-year Exit Window post-delisting.
• Rejected bids will be returned by Oct 23, 2026; ensure demat accounts are active.

Delisting outcome

• Outcome of reverse book building for voluntary delisting from BSE/NSE under SEBI Delisting Regulations.
• Delisting offer size: 43,91,220 equity shares representing 25.57% of public shareholding.
• Offer opened Oct 7, 2026 and closed Oct 13, 2026.
• Floor price Rs 252, indicative price Rs 353, discovered price Rs 425.
• Total bids: 34,16,208 shares with 778 valid bids across Rs 252–Rs 2000.
• Delisting offer has 1,57,69,173 promoter shares post-offer (92.67% of issued equity).
• Pre-offer promoter holding was 1,27,84,480 shares (74.43%).
• Post-offer promoter stake exceeds 90%; delisting considered successful if price accepted.
• Payment to successful bidders and lien release governed by SEBI Delisting Regulations.
• Acquirer Geetanjali Trading and Investments Private Limited; Manager to Delisting Offer: Kreo Capital Private Limited.

Dematerialisation and listing status

• Securities received for dematerialisation were confirmed to depositories (accepted/rejected).
• Securities dematerialised have been listed on the stock exchanges.
• Physical certificates were mutilated and cancelled after verification; depository name substituted as registered owner.

IDC recommendation

• IDC recommends the voluntary delisting offer as fair and reasonable.

Offer details

• Acquirer Geetanjali Trading and Investments to buy up to 43,91,220 shares.
• Offer represents 25.57% of equity capital.
• Floor price ₹252 per share.
• Indicative price ₹353 per share.
• Method: reverse book building.
• IPO milestones: IPA May 25, 2026; DPA Sep 28, 2026; LOF Sep 29-30, 2026.
• Manager to the Offer: Kreo Capital Private Limited.

Publication and timing

• IDC recommendations to be published in English, Hindi, Marathi newspapers and on the company website.

Board approval and voting status

• Recommendations unanimously approved by the IDC.

Delisting overview

• Acquirer Geetanjali Trading and Investments Pvt Ltd proposes voluntary delisting of Hitech from BSE/NSE.
• Offer size 43,91,220 shares (25.57%); Indicative price Rs 353; Floor Rs 252; Escrow Rs 155.01 crore.

Dates and process

• Bid window opens Oct 7 and closes Oct 13, 2026.
• Shareholders approved the Delisting via postal ballot on July 10, 2026.

Financials and ownership

• Promoter group holds 74.43%; public holders 25.57% as of LOF.
• FY2026 PAT Rs 1,518.86 lakh; total income Rs 64,467.70 lakh; total assets Rs 4,888.45 million.

Regulatory approvals

• BSE/NSE in-principle approvals received; DPA and LOF issued.
• Committee of independent directors to provide written recommendation on delisting.

Post-delisting mechanics

• Post-delisting, promoter group ownership becomes 100%; public shareholding becomes nil.
• Residual shareholders may exit within 1 year at Exit Price; 3-year listing ban applies.

Delisting scope

• LOF received for voluntary delisting of Hitech from BSE and NSE.
• Acquirer is Geetanjali Trading and Investments Private Limited, promoter group member.

Offer terms and timetable

• Offer size 43,91,220 equity shares (25.57%); promoter group holds 74.43%.
• Floor price Rs 252; Indicative price Rs 353; exit price to be determined by RBB.
• Bid window: Oct 7–13, 2026; price decisions via reverse book building.

Funding and approvals

• Escrow amount Rs 155.01 crore; Escrow Bank: HDFC; pay-in date: 8-Jul-2026.
• Acquirer deposited 25% of total consideration on 13-Jul-2026; remaining 75% on 25-Sep-2026.
• Postal ballot approved; 99.67% in favor on 10-Jul-2026.
• BSE/NSE in-principle approvals received on 25-Sep-2026.

Regulatory outlook

• DPA/LOF published; exit window 1 year after delisting.

Committee formation

• Committee formed under Regulation 28 SEBI Delisting Regulations to provide recommendations on the delisting offer.
• Five independent directors named on the committee: Sivaram Swaminathan, Aditya Sheth, Anjan Ray, Kalpana Merchant, Prakash Trivedi.

Hitech Corporation Limited — Trading Window closed from Thursday, 1st October, 2026 till 48 hours from the date of the declaration of Audited Financial Results for the quarter and half year ending 30th September, 2026