Hitech Corporation Proposes Voluntary Delisting, Sets Floor Price at ₹252

Mumbai – Hitech Corporation Limited announced to exchanges today that its Board of Directors has approved a proposal for voluntary delisting from recognised stock exchanges. The company intends to acquire all outstanding public equity shares as part of the process.

According to a regulatory filing, the Board considered the delisting plan at a meeting held today. The proposal involves purchasing all fully paid-up equity shares currently held by non-promoter shareholders.

The floor price for the delisting has been set at ₹252 per Equity Share, calculated in compliance with the Securities and Exchange Board of India (SEBI) Delisting Regulations. Further details regarding the process, including timelines and the route for the delisting – whether through a tender offer or reverse book building – will be announced subsequently.

Analysts have noted the move as potentially positive for remaining shareholders, giving the stock a bullish impact rating of 6/10, contingent on the final offer price exceeding the floor price. The company did not provide reasons for seeking delisting in its initial announcement.

This report was drafted automatically from an exchange filing and is pending editorial review.