Hi, Anand

15 Years ago, I built a similar device using a Motorola Piezo Tweeter able to pass 40 kHz ( the rectangular shape one ) 100 W ...

but cheap !!!

http://www.adelcom.net/MOTOROLA_ksn1016a.htm

Do not laugh . you need some power for the device to be really effective ( say using a 12v bridged amplifier i.e.)

Some frequency shift between 25 and 40 Khz ( randomly is best ...) will be the must ...

But remember gentle Bats will leave the vicinity ...

Alain