Hitech Corporation Limited has successfully completed the reverse book building process for its voluntary delisting offer from both BSE Limited and National Stock Exchange of India Limited. The delisting offer was made by Geetanjali Trading and Investments Private Limited, a member of the promoter group, to acquire up to 43,91,220 equity shares (25.57% of equity share capital) from public shareholders.

Key Details of the Reverse Book Building Process:

  • Offer Period: 7th October 2026 to 13th October 2026
  • Floor Price: ₹252 per equity share
  • Indicative Price: ₹353 per equity share
  • Discovered Price: ₹425 per equity share
  • Total Valid Bids: 778 bids received
  • Shares Tendered: 34,16,208 equity shares
  • Price Range of Bids: ₹252 to ₹2,000 per equity share
  • Bids Above Discovered Price: 167 bids for 4,31,515 equity shares

Shareholding Structure:

  • Total Issued Equity Capital: 1,71,75,700 shares
  • Pre-offer Promoter & Promoter Group Holding: 1,27,84,480 shares (74.43%)
  • Shares Successfully Bid: 29,84,693 shares (17.38% of total equity)
  • Post-offer Promoter & Promoter Group Holding: 1,57,69,173 shares (91.81% of total equity)

Additional Share Details:

  • Shares transferred to Investor Education and Protection Fund: 1,59,508 shares
  • Shares held under regulation 39(4) read with Schedule VI of SEBI LODR: 400 shares
  • Shares held by custodian(s) against depository receipts: Nil
  • Shares held by employee benefit trust: Nil
  • Shares held by inactive shareholders: Nil

Next Steps:

If the Acquirer accepts the Discovered Price of ₹425 per equity share, payment will be made to all successful bidders in accordance with Regulation 24 of SEBI Delisting Regulations, SEBI Circulars, and BSE Clearing Limited's settlement calendar. A post-offer public announcement will be made as required under Regulation 17(4) and Regulation 22(4A) of SEBI Delisting Regulations.

Documents Referenced:

  • Detailed Public Announcement dated 25th September 2026 (published 28th September 2026)
  • Letter of Offer dated 25th September 2026 (issued 29th-30th September 2026)