Hitech Corporation Ltd. Board Consents to Delisting Proposal; Acquirer Offers Rs 353 Per Share
Hitech Corporation Limited has announced that its Board of Directors has consented to the Delisting Proposal regarding its equity shares from recognized stock exchanges, following the review of due diligence and audit reports. The proposal involves an acquisition by Geetanjali Trading and Investments Private Limited, which seeks to acquire all fully paid-up equity shares held by public shareholders and subsequently delist the company's Equity Shares from BSE Limited and the National Stock Exchange of India Ltd (NSE).The meeting of the Board of Directors on June 9, 2026, involved a thorough review of the due diligence report prepared by Mrs. Prerana Jadhav, Peer Reviewed Practicing Company Secretary, as well as the share capital audit report. The Board accepted the reports and confirmed compliance with applicable securities laws concerning the delisting process.
The Delisting Proposal stipulates that the Floor Price for the shares is set at Rs 252/- per Equity Share of the Company. In line with regulations, the Acquirer has presented an Indicative Offer Price of Rs 353/- per Equity Share.
Key decisions taken by the Board included:
- Providing consent to the Delisting Proposal, which remains subject to subsequent approval from the company's shareholders through a postal ballot and other legal requirements.
- Certifying that both the Company and the Acquirer are in compliance with applicable securities laws.
- Stating that, in the Board’s opinion, the proposed delisting is in the interest of the company’s shareholders.
The Board also approved the notice for the postal ballot required to seek shareholder approvals regarding the Delisting Proposal, which includes the appointment of M/s Mayank Arora, Practising Company Secretaries, to conduct the process transparently.
Shareholding and Capital Structure Summary
As reported by the company's filings on June 3, 2026, the capital structure and shareholding pattern are as follows:| Parameter | Value |
|---|---|
| Total Issued Equity Capital | 17,175,700 shares |
| Nominal Value per Share | Rs 10/- |
| Total Paid Up Equity Capital | Rs 17,17,57,000 |
The company's total shareholding structure as of June 3, 2026, is distributed between the Acquirer and Public Shareholders:
| Category | Number of Shares | Percentage (%) |
|---|---|---|
| Promoter Group / Acquirers (a) & (b) | 12,784,480 | 74.43% |
| Public Shareholders | 4,391,220 | 25.57% |
| Total Equity Shares | 17,175,700 | 100.00% |
The due diligence report verified that the Acquirers and their related entities maintained consistent shareholding during the review period (June 4, 2024, to June 3, 2026). Meanwhile, the Top Twenty-Five Public Shareholders registered a net purchase of 298,262 Equity Shares over the review period.
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(Note: The provided source material is highly detailed and includes numerous internal documents and data tables. The article focuses exclusively on summarizing the core business event—the Board's decision regarding the delisting—using the aggregated financial facts.)
HITECHCORP Stock Price Movement
Today, Hitech Corporation Limited shares edged higher to close at ₹309.32, advancing 2.83% on the day. The stock concluded trading after seeing a total volume of 82,357 shares traded in the market session.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.
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