Hitech Corporation delisting: RBB bids open Oct 7, 2026

The delisting offer has entered the bidding phase

Hitech Corporation Limited’s promoter-led voluntary delisting has moved to a stage where public shareholders can participate through a reverse book building (RBB) window scheduled for October 7 to October 13, 2026. The company has disclosed a floor price of ₹252 per equity share and an indicative price of ₹353 per share for the process. The acquirer for the delisting offer is Geetanjali Trading and Investments Private Limited, and the offer is being managed by Kreo Capital Private Limited. The move follows a Detailed Public Announcement (DPA) dated September 25, 2026 and published on September 28, 2026.

The company has also received in-principle approval for voluntary delisting from both BSE and NSE, subject to compliance with SEBI (Delisting of Equity Shares) Regulations, 2021 (as amended). These steps advance the process, but they do not by themselves confirm that delisting is complete.

Who is buying and what is being acquired

The stated objective of the offer is to acquire up to 43,91,220 equity shares from public shareholders. This represents 25.57% of Hitech Corporation’s paid-up equity share capital held by public shareholders, as disclosed in the announcements. The acquisition is being conducted through the stock exchange mechanism used for tender offers under the SEBI Delisting Regulations.

Hitech Corporation has also indicated that the Letter of Offer (LOF) has been received for the voluntary delisting proposal, covering equity shares of face value ₹10 each, for delisting from BSE and NSE.

Reverse book building (RBB): how price discovery works

Under the RBB process, public shareholders can tender shares during the bid period at prices they choose, within the framework prescribed by SEBI’s delisting rules. The discovered price is determined based on bids received in the window, and it forms the basis for the next steps in the delisting process.

For this offer, the floor price is set at ₹252 per share, while the indicative price communicated for reference is ₹353 per share. The disclosures also mention that ₹353 represents a 40.08% premium over the floor price. The mechanism is designed to aggregate bids transparently through the stock exchange platform during the scheduled window.

Key dates disclosed by the company and acquirer

The DPA is dated September 25, 2026 and was published on September 28, 2026. The bid period for public shareholders is scheduled to open on October 7, 2026 and close on October 13, 2026. The company has described this as the immediate action window for public shareholders to tender shares through the exchange mechanism.

In earlier process updates, the company submitted updated due diligence and share capital audit reports to BSE and NSE on September 8, 2026, addressing exchange queries tied to the voluntary delisting process initiated by promoters. These filings form part of the procedural trail exchanges review while monitoring compliance.

Shareholder approval: voting outcome and SEBI thresholds

Hitech Corporation disclosed that the special resolution required for the delisting proposal was approved with 99.67% of total votes in favour. The company also stated that public shareholder support was about 19.4 times the votes against, exceeding the SEBI-required 2:1 threshold.

These voting outcomes are relevant because voluntary delisting requires specific shareholder approvals before the offer can proceed to the market-based price discovery stage. With that milestone completed, the process has progressed to RBB scheduling and publication of the DPA.

Exchange approvals: in-principle, not final

Both BSE and NSE granted in-principle approval for voluntary delisting, dated September 25, 2026, subject to conditions and compliance with SEBI’s delisting framework. In-principle approval is a necessary step to proceed, but final delisting approval is typically issued only after the RBB outcome and other compliances are verified.

The company has also communicated that completion depends on the RBB results and subsequent exchange approvals after the required checks. As a result, the current stage is best understood as the live bidding phase of a process that still has post-bid regulatory steps.

Offer metrics: public float targeted and minimum tender threshold

The offer aims to acquire up to 43,91,220 shares, equivalent to 25.57% of the paid-up equity share capital held by public shareholders. Disclosures also state that promoter holding stood at 74.43% as on the DPA date.

The information shared also includes a minimum tender requirement of 25,29,643 shares to reach 90% shareholding, a key threshold in many delisting outcomes under SEBI rules. This minimum is important context for understanding why the RBB participation level matters for the next steps.

Funds arrangement disclosed for the offer

As part of the delisting process disclosures, an escrow deposit of ₹155,01,00,660 was reported. This is approximately ₹155.01 crore. Such deposits are typically disclosed to show that the acquirer has made arrangements in line with process requirements.

Other related disclosures around the same period

The company also disclosed the formation of an Independent Directors’ Committee (IDC) in connection with the delisting offer and intimated publication of the committee’s reasoned recommendations under Regulation 28 of SEBI’s delisting rules. Separate updates also referenced that the trading window would close from October 1, 2026 until 48 hours after Q2 audited results.

In corporate updates during the delisting timeline, the board sanctioned the retirement of Mr. V.S.R. Anjaneyulu effective September 5, 2026, alongside confirming progress on the delisting after shareholder approval.

Key facts table

What investors will watch next

The next process milestone is the closure of the RBB window on October 13, 2026, after which bids received will determine the price discovery outcome under the exchange mechanism. Following that, the company and acquirer will need to complete procedural steps and obtain final approvals after exchanges verify compliances, as referenced in the company’s disclosures.

For now, the key confirmed facts are the scheduled bidding dates, the disclosed floor and indicative prices, the public shareholding targeted, and the in-principle approvals from both exchanges. The delisting outcome remains contingent on the post-bid process and regulatory checks described in the filings.