Glittek Granites announces full board change after Thanki takeover

CEO resignedCFO resignedExternal CEO appointedMultiple independent directors resignedPromoter family joins the boardKey managerial personnel resignedManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.0%Reaction day

₹39.69

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+2.3% vs market

Other Construction Materials peers, median of 14sector-1.1%+3.1% vs sector

On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 3.1 pts more than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+2.0-0.3+2.3-1.1+3.1

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+4.0+0.8+3.3-0.5+4.5

+6.1+0.9+5.2+0.3+5.8

+8.2+1.8+6.4+0.3+7.9

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+64.9+6.4+58.6+1.9+63.0

+101.3+5.5+95.8+11.9+89.4

UpDownMarket · Nifty Microcap 250Sector · Other Construction Materials peers, median of 14Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Glittek Granites saw a complete board and management change on 25 June 2026 after the Thanki family completed their open offer takeover. Two MDs, three independent directors and the CFO resigned. Three Thanki cousins join as executive directors, with a nephew as CFO and three new independent directors. The company plans to rename to Rawmin Neo Elements Limited, shift office from Bengaluru to Mumbai, and alter business objects.

Likely market impact

Full board replaced after Thanki family takeover. Three cousins lead as executive directors. Name change to Rawmin Neo Elements Limited planned.