Key Quantitative Figures

  • Total paid-up equity share capital: 1,71,72,000 shares
  • Offer shares (public holding): 43,91,220 shares (25.57% of total)
  • Floor price: ₹252 per equity share
  • Indicative price: ₹353 per equity share
  • Discovered price through RBBP: ₹425 per equity share
  • Final exit price accepted: ₹426 per equity share
  • Minimum acceptance condition: 25,29,733 shares (to reach 90% promoter holding)
  • Shares validly tendered: 30,09,693 shares
  • Post-acquisition promoter holding: 1,57,94,173 shares (91.96%)

Dates of Action

  • Initial Public Announcement (IPA) date: May 25, 2026
  • Detailed Public Announcement (DPA) date: September 28, 2026
  • Letter of Offer (LOF) date: September 25, 2026
  • LOF email dispatch: September 29, 2026
  • LOF physical dispatch: September 30, 2026
  • Specified date: September 28, 2026
  • Bid period: October 7, 2026 to October 13, 2026
  • Payment date for accepted bids: October 23, 2026
  • Return of rejected shares: October 23, 2026

Parties Involved

  • Acquirer: Geetanjali Trading and Investments Private Limited (promoter group member)
  • Manager to Delisting Offer: Kreo Capital Private Limited
  • Registrar to Delisting Offer: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • Stock Exchanges: BSE Limited and National Stock Exchange of India Limited

Financial Impact

  • Total consideration payable to tendering shareholders: Approximately ₹128.23 crore (30,09,693 shares × ₹426)
  • Financial impact on company: Delisting from stock exchanges
  • Capital structure impact: Reduction in public shareholding from 25.57% to 8.04%

Process Details

The delisting offer was conducted through the Reverse Book Building Process (RBBP) mechanism. The Minimum Acceptance Condition was achieved with 30,09,693 shares tendered against the requirement of 25,29,733 shares. All shares tendered at or below the exit price of ₹426 will be acquired by the acquirer.

Residual Shareholders Arrangement

Public shareholders who did not participate or whose bids were unsuccessful will have a one-year exit window following delisting to offer their shares to the acquirer at the same exit price of ₹426 per share. A separate Exit Letter of Offer will be sent to such residual shareholders.

Document Availability

The Post Offer Public Announcement is available on the company's website (www.hitechcorporation.co) and will be available on BSE (www.bseindia.com) and NSE (www.nseindia.com) websites.