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Hitech Corporation Ltd.
Plastic Products₹318.001.24%
24 Jul, 4:01 PM
CMP₹318.00
Mkt Cap₹553 Cr
P/E36.41
P/B1.94
ROE4.83%
52W High₹334.00
52W Low₹112.10
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Sector Overview
Plastic ProductsPlastic Products
Hitech Corporation Ltd. operates in the Plastic Products sector under the Plastic Products industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.
Corporate Actions
Delisting of shares2026-06-09 Voluntary Delisting of Shares As mentioned earlier, the Company had on 25th May, 2026 received Initial Public Announcement issued by Kreo Capital Private Limited (?Manager? / ?Manager to the Offer?) for and on behalf of Geetanjali Trading and Investments Private Limited (?Acquirer?), a member of the promoter group of the Company as defined under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, who along with the promoters and other members of the promoter group of the Company are ?Acquirers? as per Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, as amended from time to time, (?SEBI Delisting Regulations?), wherein the Acquirer has expressed its intention to acquire all fully paid-up equity shares of the Company (?Equity Shares?) that are held by the Company?s public shareholders as defined under the SEBI Delisting Regulations (?Public Shareholders?); and consequently voluntarily delist the Equity Shares of the Company from the recognized stock exchanges where the Equity Shares of the Company are presently listed i.e. BSE Limited (?BSE?) and the National Stock Exchange of India Ltd. (?NSE?), in accordance with the SEBI Delisting Regulations (the ?Delisting Proposal?). The Floor Price for the Delisting Proposal in accordance with Regulation 19A of SEBI Delisting Regulations is Rs. 252/- per Equity Share of the Company. The Acquirer has announced an Indicative Offer Price of Rs. 353/- per Equity Share of the Company in accordance with Regulation 20(4) of the Delisting Regulations. In view of the above, the Board in its meeting held today has taken the following decisions: (i) The Board has considered and taken on record (i) the due diligence report dated June 09, 2026 of Mrs. Prerana Jadhav, Peer Reviewed Practicing Company Secretary (?DD Report?), in accordance with Regulation 10 and other relevant provisions of the SEBI Delisting Regulations (ii) share capital audit report dated June 09, 2026 submitted by Mrs. Prerana Jadhav, Peer Reviewed Practicing Company Secretary, prepared in accordance with Regulation 76 of the SEBI (Depositories and Participants) Regulations, 2018 read with Regulation 12(2) of the SEBI Delisting Regulations, in respect to the Equity Shares proposed to be delisted, covering a period of 6 months prior to the date of the meeting of the Board (?Audit Report?). (ii) The Board took on record the letter dated 28th May, 2026 received from Kreo Capital Private Limited, manager to the offer, for and on behalf of the Acquirer, informing that the floor price of the delisting offer is INR 252/- per Equity Share, which is determined in accordance with Regulation 19A of the SEBI Delisting Regulations along with the certificate dated 25th May, 2026 issued by Mr. Gaurang Rajesh Shah, Chartered Accountants and Registered Value in support of such floor price. (iii) Relying on the information available with the Company, the IPA, the Floor Price Report, the DD Report, the Audit Report and other confirmations received by the Board: a) The Board discussed and provided its consent to the Delisting Proposal, in accordance with Regulation 10 of the SEBI Delisting Regulations. This consent is subject to consent of the shareholders of the Company through postal ballot in accordance with SEBI Delisting Regulations and subject to any other requirement under applicable laws including any conditions as may be prescribed or imposed by any authority while granting any approvals. b) The Board, in accordance with Regulation 10(4) of the SEBI Delisting Regulations, certified that: i. The Company is in compliance with the applicable provisions of securities laws. ii. The Acquirer and its related entities are in compliance with the applicable provisions of securities laws, including compliance with Regulation 4(5) of the SEBI Delisting Regulations (Delisting of Equity Shares) Regulations, 2021 and iii. In the opinion of the Board, the proposed delisting of the equity shares of the Company is in the interest of the shareholders of the Company. c) The Board approved the notice of postal ballot to seek necessary approvals from its shareholders in relation to Delisting Proposal in accordance with Regulation 11 of SEBI Delisting Regulations and allied matters including appointment of M/s. Mayank Arora, Practising Company Secretaries as scrutinizer to conduct the process of the postal ballot in a fair and transparent manner.
Board Meeting2026-06-04 Voluntary Delisting of Shares
Ex Dividend2026-05-20Rs.1.0000 per share(10%)Dividend
Board Meeting2026-05-15 Dividend & Audited Results
HITECHCORP
₹318.00
-1.24%