Hitech Corporation Ltd has received a formal delisting proposal from its promoter entity, Geetanjali Trading and Investments. The company will undergo a Reverse Book Building Process (RBBP) to determine the exit price for public shareholders. The bidding window is scheduled between October 7 and October 13, 2026. This development marks a significant transition as the promoters aim to acquire all outstanding public equity to take the company private from both BSE and NSE.
Hitech Corporation Initiates Voluntary Delisting Process
Promoter group Geetanjali Trading and Investments has proposed the acquisition of all public shares to delist Hitech Corporation from BSE and NSE.
The Reverse Book Building process is scheduled to commence on October 7, 2026, with the exit price discovery set to conclude by October 13, 2026.
Reader Takeaway: Public shareholders gain an exit opportunity via RBBP, though the company will lose its public trading status post-process.
What just happened
Hitech Corporation Limited has received a Detailed Public Announcement from its promoter, Geetanjali Trading and Investments Private Limited, expressing intent to delist the company's equity shares. The move follows SEBI (Delisting of Equity Shares) Regulations, 2021. Kreo Capital Private Limited has been appointed as the Manager to the Offer to oversee the regulatory compliance and execution.
Why this matters
For retail and institutional investors, this represents a definitive exit event. Once the delisting is successful, the shares will no longer be traded on the BSE or NSE, significantly reducing liquidity for any remaining shareholders. The price at which the promoters will buy back these shares is not fixed; it will be discovered through the Reverse Book Building Process (RBBP), where shareholders submit their own sell orders.
Bidding Timeline
- Specified Date for Eligibility: September 28, 2026
- Bid Opening Date: October 7, 2026
- Bid Closing Date: October 13, 2026
- Proposed Payment Date: October 23, 2026
What to track next
Shareholders should consult their depository participants (DPs) to understand the technical process of tendering shares through the RBBP mechanism. Monitoring the floor price and the discovered exit price is critical, as the success of the delisting is contingent on the total number of shares tendered meeting regulatory thresholds.