Geetanjali Trading and Investments Launches Proposal for Voluntary Delisting of Hitech Corporation Limited Shares

Geetanjali Trading and Investments Launches Proposal for Voluntary Delisting of Hitech Corporation Limited Shares​

Geetanjali Trading and Investments Private Limited, a member of the promoter group of Hitech Corporation Limited, has announced a voluntary delisting proposal for the company’s fully paid-up equity shares. The proposal outlines the intent to acquire all equity shares from public shareholders and consequently remove the shares from the stock exchanges.

Kreo Capital Private Limited has been appointed as the Manager to the Offer for this initiative.

Delisting Proposal Details​

The proposal, detailed in an Initial Public Announcement dated May 25, 2026, confirms the intention of the promoter group, through the Acquirer, to acquire all fully paid-up equity shares of Hitech Corporation Limited.

The key financial parameters of the delisting proposal are as follows:

Rationale for Voluntary Delisting​

The announcement provides several justifications for the proposed delisting. The Acquirer notes that the listing status may not offer a meaningful advantage to public shareholders due to market conditions.

Specifically, the rationale points to:

• Low Liquidity: The average market capitalization of the Company on NSE in the last six months prior to the IPA was Rs. 261.66 Crores. The average free float during the same period was Rs. 64.46 Crores. The Acquirer suggests that the low free float limits adequate exit opportunities for public shareholders.
• Exit Opportunity: The proposed delisting aims to provide public shareholders an opportunity to realize the value of their investments in cash at a fair price.
• Cost Reduction: The delisting will also result in a reduction of ongoing substantial compliance costs associated with listing, such as annual listing fees.

Pricing Mechanism and Conditions​

The Acquirer has proposed an Indicative Price of INR 353/- per Equity Share, which is higher than the shares' lifetime high price of Rs. 351.35. The final price, or 'discovered price,' will be determined through the reverse book building process.

The Acquirer specifies that the discovered price will be the price at which shares are accepted through eligible bids, aiming to bring the Acquirers' shareholding to 90% of the total issued shares of the Company (excluding shares held by custodians, employee benefit trusts, and certain inactive shareholders).

The successful acquisition of the equity shares remains conditional upon several factors, including:

• The approval of the Delisting Proposal by the Company’s shareholders through a special resolution.
• The acceptance of the discovered price by the Acquirer.
• Receipt of necessary approvals from the Stock Exchanges and any other required statutory or regulatory consents.

HITECHCORP Stock Price Movement​

Shares of Hitech Corporation Limited are surging in live trading as of 9:56 AM, rallying 20.00% to touch ₹200.16. The strong buying momentum is supported by a trading day volume of 40,235 shares.