Hitech Corporation delisting: BSE, NSE nod in 2026

What the exchange approvals mean

Hitech Corporation Limited has received in-principle approval from both BSE and NSE for the voluntary delisting of its equity shares. The approvals were granted on September 25, 2026, after the company applied to the exchanges in July. The exchange nod is an important procedural step, but it does not by itself complete the delisting. The company must continue to follow the requirements under SEBI (Delisting of Equity Shares) Regulations, 2021. The approvals also come with conditions, including that there should be no pending litigation that could affect shareholder interests.

Key dates in the delisting process so far

The voluntary delisting process has moved through board approval, shareholder approval, exchange filings, and subsequent clarifications. The board had initially approved the delisting proposal on June 9, 2026. Shareholders approved the delisting initiative on July 10, 2026. The company then sought in-principle approvals from BSE and NSE on July 10, 2026. Later, it filed revised documents in September following an NSE query.

Updated due diligence filings after NSE query

Hitech Corporation submitted updated due diligence and share capital audit reports to BSE and NSE on September 8, 2026. The filings were made to address specific queries raised by NSE on the period covered in earlier documents connected to the delisting proposal. The revised due diligence reports cover the period from June 9, 2024, to June 8, 2026. The board approved these revised reports via Circular Resolution No. 3/2026-27. The company also referenced the share capital audit requirement under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018.

Promoter holding and the delisting objective

The company’s promoter group currently holds 74.43% of the equity share capital, as disclosed in the delisting update. The voluntary delisting initiative is described as a transition from a publicly traded capital goods firm into a privately held entity. The delisting is being led by Geetanjali Trading and Investments via Kreo Capital, as cited in the provided information. These details indicate a promoter-backed effort to take the company off the public markets through the SEBI delisting route.

Offer price details: floor price and indicative price

The delisting offer includes a floor price of ₹252 and an indicative price of ₹353 per share. The information also states that the indicative price carries a 40.08% premium over the floor price. The company has described the pricing as reflecting a premium to current market levels. As of September 27, 2026, Hitech Corporation’s stock price was reported at ₹330.15. A separate reference notes the share price at ₹320.65 as on July 28, 2026.

Shareholder approval and voting timeline

The delisting proposal went to shareholders through a postal ballot process. Remote e-voting was open from June 11 to July 10, 2026. Results were expected by July 14, as per the provided details. Shareholders subsequently approved the initiative on July 10, 2026. The board also certified compliance with SEBI regulations in the course of moving the proposal forward.

Conditions and timelines under the in-principle approval

The in-principle approval notes a key timeline requirement: the final application for delisting must be filed within one year of the special resolution. The approvals are contingent on there being no pending litigation affecting shareholder interests. Compliance with SEBI (Delisting of Equity Shares) Regulations, 2021 is mandatory throughout the process. These conditions frame what the company must demonstrate in its next round of submissions and actions.

Board actions and regulatory disclosures

Hitech Corporation has made disclosures under Regulation 30 (LODR) related to the delisting update. The company has also indicated that its board meeting agenda included reviewing the due diligence report of the peer reviewed company secretary appointed under Regulation 10(2) and 10(3) of the SEBI Delisting Regulations. The agenda also included taking on record an audit report required under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. In earlier steps, the company had informed exchanges about the appointment process for the peer review company secretary, and later noted a change after the initially appointed firm expressed unavailability.

Summary table: process milestones and disclosures

Pricing snapshot table

Market impact and why investors are watching

The key market focus remains on the delisting price markers and the procedural progression through SEBI and exchange requirements. The stated floor price and indicative price set reference points for shareholders tracking the delisting pathway. The in-principle approvals from both exchanges also indicate that the process has moved past initial scrutiny, while still requiring completion of subsequent steps. Investors also tend to watch whether all conditions attached to the in-principle approvals are met, including the litigation-related condition highlighted in the exchange communication. The requirement to file a final delisting application within one year of the special resolution sets a clear compliance clock for the company.

Conclusion

Hitech Corporation’s voluntary delisting has progressed from board and shareholder approvals to updated regulatory filings and in-principle approvals from BSE and NSE dated September 25, 2026. The next steps will depend on completing SEBI-compliant processes and filing the final delisting application within the stipulated timeline.