APPROVAL OF SHARE PURCHASE
Price
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Awaiting price reaction for this filing.
The Board of Glittek Granites Ltd approved a Share Purchase Agreement (SPA) on January 6, 2026, for the sale of 1,63,51,010 equity shares (62.99% of fully paid-up share capital) by the existing promoter group (Manjula Agarwal, Tushar Agarwal, Ashoke Agarwal, Ashoke Agarwal & Others HUF, and Kosen Ventures Private Limited) to a group of new acquirers led by members of the Thanki family (Maheshkumar, Bhargav, Bhavin, Kalpana, Hema, and Gautam Thanki). This effectively results in a change of control of the listed company. The transaction is subject to regulatory approvals, including compliance with SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
This is a significant change-of-control event — shareholders should expect a mandatory open offer from the new acquirers at a price to be determined under the Takeoverncode. Minority shareholders may get an exit opportunity or should monitor the open offer price closely.