Hitech Corporation Limited has informed the Exchange about General Updates
HITECHCORP · price
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Hitech Corporation Limited has disclosed the floor price for its proposed voluntary delisting of equity shares. The independent valuer (Mr. Gaurang Rajesh Shah) has determined a floor price of Rs. 252 per equity share based on Adjusted Book Value methodology under SEBI regulations. The acquirer (Geetanjali Trading and Investments Private Limited, part of the promoter group) has announced an indicative offer price of Rs. 353 per share or floor price, whichever is higher. The company has 1,71,75,700 equity shares outstanding, with promoters holding 74.43% and public shareholders holding 25.57%. A peer review company secretary has been appointed for due diligence and audit as required under SEBI regulations.
Public shareholders are being offered Rs. 353 per share, which is 40% above the current floor price and significantly above the 60-day VWAP of Rs. 148.82. If the delisting succeeds, shareholders will need to decide whether to accept the offer or hold illiquid shares after delisting.