Independent Directors Committee recommends voluntary delisting offer as fair and reasonable
HITECHCORP · price
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Hitech Corporation's Independent Directors Committee has recommended the voluntary delisting offer by promoter group entity Geetanjali Trading and Investments as fair and reasonable. The offer covers 43.91 lakh shares (25.57% of capital) from public shareholders at a floor price of about Rs 252 and indicative price of about Rs 353 per share. The indicative price is about 2.11 times the last traded price and exceeds the stock's lifetime high. Bids will be collected through reverse book building.
Public shareholders can tender shares in reverse book building to potentially exit above the stock's lifetime high. Floor price is about Rs 252 per share.