Date: 29th September, 2026

Delisting Offer Details

Background and Rationale

Geetanjali Trading and Investments Private Limited, a member of the promoter group of Hitech Corporation Limited, has initiated a voluntary delisting offer to acquire all 43,91,220 equity shares (25.57% of paid-up capital) held by public shareholders. The delisting aims to provide exit opportunity to public shareholders at a premium price while reducing compliance costs associated with maintaining listed status.

Offer Mechanics

  • Indicative Price: ₹353 per equity share
  • Floor Price: ₹252 per equity share (as determined by independent valuer)
  • Bid Period: October 7-13, 2026
  • Minimum Acceptance: 25,29,643 shares required to achieve 90% promoter holding
  • Exit Price: Will be determined through reverse book building process

Capital Structure

  • Authorized Capital: ₹60.50 crore (6,05,00,000 equity shares of ₹10 each)
  • Paid-up Capital: ₹17.1757 crore (1,71,75,700 equity shares of ₹10 each)
  • Promoter Holding: 1,27,84,480 shares (74.43%)
  • Public Holding: 43,91,220 shares (25.57%)

Financial Performance

| Financial Year | Revenue (₹ lakh) | Net Profit (₹ lakh) | EPS (₹) |

| FY 2025-26 | 64,040.21 | 1,518.86 | 8.84 |

| FY 2024-25 | 56,142.61 | 893.67 | 5.20 |

| FY 2023-24 | 56,179.47 | 2,200.29 | 12.81 |

Approvals Obtained

  • Board Approval: June 9, 2026
  • Shareholder Approval: July 10, 2026 (99.67% of public votes in favor)
  • BSE In-principle Approval: September 25, 2026 (Ref: LOD/Delisting/PB/IP/834/2026-27)
  • NSE In-principle Approval: September 25, 2026 (Ref: NSE/LIST/C/2026/1079)

Key Parties

  • Manager to Offer: Kreo Capital Private Limited (SEBI Reg: INM000012689)
  • Registrar to Offer: MUFG Intime India Private Limited (SEBI Reg: INR000004058)
  • Buying Broker: Nirmal Bang Securities Private Limited
  • Escrow Bank: HDFC Bank Limited
  • Independent Valuer: Mr. Gaurang Rajesh Shah (IBBI/RV/06/2019/11305)

Escrow Arrangements

Total escrow amount of ₹155.01 crore has been deposited with HDFC Bank Limited in the account "GEETANJALI TRADING AND INVESTMENTS PVT LTD DELISTING ESCROW A/C" to cover the maximum potential consideration payable.

Process Timeline

  • Initial Public Announcement: May 25, 2026
  • Board Meeting: June 9, 2026
  • Shareholder Approval: July 10, 2026
  • Specified Date: September 28, 2026
  • Bid Opening: October 7, 2026
  • Bid Closing: October 13, 2026
  • Price Announcement: October 15, 2026
  • Payment Date: October 15-23, 2026 (depending on discovered price)

Tax Implications

  • Securities Transaction Tax applicable as offer is through stock exchange mechanism
  • Capital gains tax applicable based on holding period
  • No TDS deduction for resident shareholders
  • Non-resident shareholders responsible for their own tax compliance

Post-Delisting Arrangements

  • Exit window of 1 year for residual shareholders to sell at exit price
  • No relisting possible for 3 years from delisting date
  • Shares will be treated as unlisted securities post-delisting

Risk Factors

  • Delisting process may be delayed beyond scheduled timeline
  • Acquirer may reject discovered price if higher than indicative price
  • No assurance regarding future financial performance of the company

Documents Available for Inspection

Copies of incorporation documents, financial statements, board resolutions, shareholder approvals, due diligence reports, valuation reports, escrow agreements, and stock exchange approvals are available for inspection at the office of Manager to the Offer.