Hitech Corp: Floor Price for Delisting Set at ₹252 Per Share
Hitech Corporation Limited has determined the Floor Price for its voluntary delisting at ₹252 per equity share. This price was established based on the Adjusted Book Value (ABV) and the 60-day VWAP. The company has also appointed a new firm for due diligence and audit related to the delisting process.
The determination of the floor price is a significant step in the delisting process. It provides clarity to shareholders regarding the minimum price they can expect for their shares, which can influence their decision-making. The appointment of auditors also signifies progress in the delisting proceedings.
The announcement is a procedural update regarding the determination of the floor price for delisting. While it provides a key financial metric (floor price), it does not inherently indicate a positive or negative development for the company's ongoing operations or future prospects.
Hitech Corporation Limited has announced an update regarding its proposed voluntary delisting of equity shares. Further to previous intimations, the company has received a letter from Kreo Capital Private Limited, the Manager to the Offer, on May 28, 2026. This letter informs about the determination of the Floor Price in accordance with SEBI (Delisting of Equity Shares) Regulations, 2021.
The Floor Price, as determined by a report from Mr. Gaurang Rajesh Shah, Chartered Accountant and Registered Valuer, is ₹252 per equity share. This price is based on the Adjusted Book Value (ABV) calculation as per SEBI regulations, which also considers the 60-trading day Volume Weighted Average Market Price (VWAP). The report indicates that the ABV per equity share is ₹252, while the 60-day VWAP on NSE is ₹148.82. Therefore, the Floor Price is set at the higher of these two, which is ₹252 per share.
Additionally, the Board of Directors, through a circular resolution on May 28, 2026, has appointed M/s. Robert Pavrey & Associates LLP as a peer review company secretary. This appointment is to carry out due diligence and audit as per SEBI Delisting Regulations and other applicable provisions.
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Hitech Corporation Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Hitech Corporation Limited. Read the original for the full detail.