Hitech Corporation Limited Board Approves Delisting Proposal; Floor Price Set at Rs 252 Per Share
Hitech Corporation Limited announced that its Board of Directors had considered and consented to the proposal for voluntarily delisting its Equity Shares from recognized stock exchanges, including BSE and NSE. The outcome of the meeting, held on June 9, 2026, confirmed key financial metrics related to the delisting process, which is being driven by a member of the promoter group.The Board received and took on record the Due Diligence (DD) Report and the Share Capital Audit Report for the company. The proposal involves the acquisition of Equity Shares by Geetanjali Trading and Investments Private Limited, a member of the promoter group.
The Board certified that the proposed delisting was in the interest of the shareholders, following discussions and review of all available information, including the Initial Public Announcement (IPA) and the Floor Price Report. The company also confirmed compliance with applicable securities laws for both itself and the Acquirer.
The key financial details regarding the proposal are as follows:
- Floor Price: Rs 252/- per Equity Share.
- Indicative Offer Price: Rs 353/- per Equity Share.
Corporate Structure Highlights
According to the Share Capital Audit Report, Hitech Corporation Limited's capital structure stands at INR 17,17,57,000 for the issued equity shares. The company has a total paid-up capital of INR 17,17,57,000 against 1,77,75,700 Equity Shares (face value Rs 10/- each).| Financial Detail | Number of Shares | Nominal Value per Share | Total Capital |
|---|---|---|---|
| Equity (Paid Up) | 1,77,75,700 | Rs 10/- | INR 17,17,57,000 |
Shareholding and Delisting Context
The Due Diligence Report provided observations on the shareholding patterns of both the Acquirer and the Top Twenty-Five Public Shareholders. The Acquirers, comprising the Promoters and their associated entities, hold 1,27,84,480 Equity Shares, aggregating to 74.43% of the paid up equity capital.The public shareholders hold 43,91,220 Equity Shares, representing 25.57%. The report further noted that during the review period (June 4, 2024, to June 3, 2026), the Top Twenty-Five Public Shareholders collectively bought 2,98,262 Equity Shares of the company.
Next Steps
In light of these developments, the Board approved the notice for a postal ballot to seek necessary approvals from its shareholders regarding the Delisting Proposal. The appointment of M/s Mayank Arora, Practising Company Secretaries, was also approved to scrutinize the process of the postal ballot to ensure fairness and transparency.HITECHCORP Stock Price Movement
Today, the shares of Hitech Corporation Limited edged higher in after-hours trading, settling at ₹309.32 after marking a strong gain of 2.83%. The company’s stock saw moderate activity throughout the day, with a total volume of 82,357 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.