General Updates

Hitech Corporation Limited Regd. Office & HO: 201, Welspun House 2nd Floor, Kamala City, Lower Parel - west Mumbai - 400 013 Date: September 30, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra-Kurla Complex Dalal Street, Mumbai – 400 023 Bandra (E), Mumbai - 400 051 Scrip Code: 526217 Scrip Symbol: HITECHCORP Sub.: Submission of recommendations of the Committee of Independent Directors of Hitech Corporation Limited Ref.: Voluntary Delisting of Equity Shares of Hitech Corporation Limited ("Company") from BSE Limited and National Stock Exchange Limited in accordance with the provisions of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021 ("SEBI Delisting Regulations"). Dear Sir / Madam, This is to inform you that, pursuant to Regulation 28 of SEBI Delisting Regulations, the Committee of Independent Directors (“IDC”) of the Company at their meeting held on September 30, 2026, have provided their reasoned recommendations for the proposed voluntary delisting offer. Further, in compliance with Regulation 28 (4) of SEBI Delisting Regulations, the recommendations of IDC of the Company will be published tomorrow in the following newspapers: Newspaper Language Edition Business Standard English All Navbharat Times Hindi All Mumbai Lakshadweep Marathi Mumbai Accordingly, in terms of Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are hereby enclosing herewith a copy of the recommendations of IDC along with the details of the voting pattern. The recommendations of IDC will also be made available on the website of the Company at www.hitechcorporation.co. Further, we have forwarded a copy of Recommendation of IDC to Kreo Capital Private Limited, Manager to the Delisting Offer. This is for your information and record. Thanking You, For Hitech Corporation Limited Hetali Mehta Company Secretary and Compliance Officer Encl: As above Integrity + Commitment + Innovation = Excellence CIN: L28992MH1991PLC168235 l An ISO 9001:2008 Certified Company l Tel: 91-22-40016500/24816500 l Email: corp@hitechgroup.com l Website: www.hitechcorporation.co Hitech Corporation Limited Regd. Office & H0 : ']1-11TECH 201, Welspun House 2nd Floor, Kamala City, Lower Parel -west Mumbai - 400 013 Recommendations of the Committee of Independent Directors ("IDC") of Hitech Corporation Limited ("Company") on the Voluntary Delisting Offer made by Geetanjali Trading and Investments Private Limited ("Acquirer") who along with the promoters and other members of the promoter group of the Company are "Acquirers" as defined under SEBI (Delisting of Equity Shares) Regulations, 2021, to the public shareholders of the Company ("Public Shareholders") for acquiring all the Equity Shares of the Company that are held by Public Shareholders and voluntarily delis! the Equity Shares of the Company from BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") under Regulation 28 of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021 ("SEBI Delisting Regulations"). 1. Date September 30, 2026 2. Name of the Company Hitech Corporation Limited 3. Details of the Delisting Offer Voluntary Delisting Offer made by the Acquirer to acquire up to pertaining to the Company 43,91,220 (Forty-three Lakh Ninety-One Thousand Two Hundred and Twenty) Equity Shares ("Offer Shares") representing 25.57% of the Equity Share Capital of the Company from the Public Shareholders and consequent voluntary deli sting the Equity Shares of the Company from BSE Limited and National Stock Exchange of India Limited in accordance with the SEBI Delisting Regulations. • Floor Price: ~ 252 per Equity Share • Indicative Price: t 353 per Equity Share • Methodology for Delisting: Through Reverse Book Building process. • Initial Public Announcement dated 25th May, 2026 ("IPA") • Detailed Public Announcement dated 25th September 2026 published on 28th September, 2026 ("DPA") • Letter of Offer dated 25th September, 2026 ("LOF") issued by Kreo Capital Private Limited ("Manager to the Delisting Offer"), to the shareholders on behalf of the Acquirer on 29th September & 30th September, 2026. 4, Name(s) of the Acquirer Geetanjali Trading and Investments Private Limited ("Acquirer") a member of promoter group and who along with promoters and other members of the promoter group of the Company are "Acquirers" as defined in SEBI Delisting Regulations. 5. Name of the Manager to the Offer Kreo Capital Private Limited Address: 2nd Floor, VCA Complex, Near Gate No. 08, Civil Lines, Sadar Bazar, Nagpur-440001 Telephone: 0712-2997550/ 0712-299755 I E-mail Id: publicissue@kreocapital.com Investor Grievance Id: compliance@kreocapital.com Website: www.kreocapital.com Contact Person: Mr. Ayush Parakh / Mr. Kushal Agrawal Integrity Commitment+ Innovation - Excellence --1- CIN: L28992MH1991PLC168235 l An ISO 9001:2008 Certified Company I Tel: 91·22-40016500/24816500 I Email: rnrp@bit:ecbgmup com 1 Website'. WWW biterbrnrporatian fQ Hitech Corporation Limited Regd. Office & HO: 11-!ITECI-I 201, Welspun House 2nd Floor, Kamala City, Lower Pare! -west Mumbai -400 013 SEBI Registration No: INM0000 12689 6. Members of the Committee of Sr. No. Name of the Independent Position in the Independent Directors (Please Directors Committee indicate the chairperson of the Committee separately) l. Mr. Sivaram Swaminathan Chairperson 2. Mr. Aditya Sheth Member 3. Mr. Anjan Ray Member 4. Mrs. Kalpana Merchant Member 5. Mr. Prakash Trivedi Member 7. IDC Member's relationship with the All the members of the JDC are the Non-Executive Independent Company (Director, Equity shares Directors of the Company. The !DC members neither hold any owned, any other contract / equity shares in the Company nor do they have any contract/ relationship), if any relationship with the Company. 8. Trading in the Equity Shares/other None of the !DC members have traded in the Equity Shares/ other securities of the Company by IDC securities of the Company during the twelve months preceding the Members date of the IP A. None of the members of the !DC have traded in any of the Equity Shares of the Company during the period from the date of the IPA and till the date of this recommendation. 9. IDC Member's relationship with the None of the members of the !DC are directors on the Board of the Acquirer (Director, Equity Shares Acquirer. Further, none of the members of the !DC, holds any owned, any other contract / equity shares or other securities of the Acquirer nor does any relationship), if any. member have any contract or relationship with the Acquirer. 10. Trading in the Equity Shares/other None of the !DC members have traded in the Equity Shares / other securities of the Acqnirer by IDC securities of the Acquirer during the twelve months preceding the Members date of the IP A. None of the members of the !DC have traded in any of the Equity Shares of the Acquirer during the period from the date of the IPA and till the date of this recommendation. 11. Recommendation on the Delisting Based on the review of the following: Offer, as to whether the Delisting Offer is fair and reasonable I. Initial Public Announcement dated 25th May, 2026 2. Floor price intimation dated 28th May, 2026 along with valuation report dated 25th May, 2026. Integrity+ Commitment+ Innovation= Excellence CIN: L28992MH1991PLC168235 I An ISO 9001:2008 Certified Company I Tel: 91-22-40016500/24816500 I Email: rnrp@biterbgrmm ram I Website: WWW bitecbrnrporation C9 Hitech Corporation Limited Regd. Office & H0 : 201, Welspun House 2nd Floor, Kamala City, Lower Pare! -west Mumbai -400 013 3. Outcome of meeting of Board of Directors of the Company held on 09'h June, 2026. 4. Postal ballot notice dated 09th June, 2026. 5. Approval of Shareholders of the Company through postal ballot passed on JO'h July, 2026 in accordance with [Showing first 8,000 characters — download PDF for full document]