Hitech Corporation Promoter Acquires 17.52% Stake for ₹128.21 Crore in Delisting Offer

Key numbers

Market Cap	₹705.23 CrSmall Cap
Revenue TTM	₹701.17 CrOperating
P/E Ratio	40.19Sector: 43.13
Promoter Stake	86.63%Post-Acquisition
Deal value	₹128.21 Cr
Share of market cap	18.2%
Share of annual revenue	18.3%

Key highlights

• Acquisition of 30,09,593 equity shares at a final exit price of ₹426 per share
• Total transaction value of ₹128.21 crore represents 18.2% of current market capitalization
• Promoter group shareholding increased significantly to 86.63% from 69.11%
• Transaction successfully completed on October 23, 2026, following a reverse book-building process
• The acquisition was executed via the exchange-based voluntary delisting mechanism

Geetanjali Trading Completes ₹128.21 Crore Acquisition

Hitech Corporation Limited has disclosed that Geetanjali Trading and Investments Private Limited, a member of the promoter group, finalized the purchase of 30,09,593 equity shares on October 23, 2026. This transaction was concluded at a final exit price of ₹426 per share, following the outcome of a voluntary delisting offer. The acquisition constitutes 17.52% of the company's equity capital, pushing the total promoter group holding to 86.63%.

This move follows an initial public announcement made in May 2026, where the promoter originally proposed an indicative price of ₹353 per share to acquire public equity for delisting purposes.

Terms and Timeline of the Delisting Process

• The board initially approved the delisting proposal in May 2026 for up to 43.91 lakh public shares
• The final exit price was accepted at ₹426 per share on October 13, 2026
• A corrigendum on October 22, 2026, adjusted the validly tendered shares for acquisition to 30,09,593
• The deal value of ₹128.21 crore is equivalent to 18.3% of the company's TTM revenue
• The filing was formally submitted to exchanges on October 29, 2026, under Insider Trading Regulations

Operational Expansion and Industrial Footprint

The acquisition comes as Hitech Corporation expands its industrial packaging capabilities. As of July 2026, management reported a robust order book for its newly commissioned 1,00,000+ square foot facility in Dahej, which focuses on manufacturing 50 to 250-litre drums. The company is also implementing a sustainability initiative to achieve partial reliance on solar power across all manufacturing units by FY28.

This transition has already been initiated at the Mysore, Rohtak, and Vizag plants, with upcoming installations planned for the Khandala and Sanaswadi facilities to improve energy efficiency.

Financial Performance and Market Valuation

• Operating revenue for the June 2026 quarter grew 36.85% year-on-year to ₹225.67 crore
• Net profit for the latest quarter was ₹7.11 crore, marking a 49.72% increase over the previous year
• The company currently trades at a TTM P/E of 40.19, compared to the industry average of 24.31
• Operating Profit Margin stood at 10.2% in the most recent quarterly results
• The stock has seen a significant 121.19% price appreciation over the past year

What to watch next

• Audited financial results for the second quarter and half-year ending September 30, 2026
• Reopening of the trading window for insiders 48 hours after Q2 FY27 result declaration
• Central Government regulatory approval for the 5-year re-appointment of MD Malav Dani
• Completion of solar power infrastructure installations at the Khandala and Sanaswadi plants

Hitech Corporation · financial snapshot

Share price	₹410.6
Market capitalisation	₹705.23 Cr
Revenue (annual)	₹640.40 Cr
Net profit (annual)	₹15.19 Cr
Revenue (latest quarter)	₹225.67 Cr+35.94% vs previous quarter
Net profit (latest quarter)	₹7.11 Cr-20.01% vs previous quarter
P/E (TTM)	40.19×Sector 43.13×
Promoter holding	74.43%0.00% QoQ
FII holding	0%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.