BSEGlittek Granites LtdMediumNeutral
Announced Tue, 12 May · 17:05 IST

As per atachment

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF

Price

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Price reaction · full curve 14 horizons · vs prior close
+0.3%1-day move
₹46.24
prior close
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.3+1.6-3.8-3.8-4.1-8.1-12.1-3.1+5.9
Up moveDown movePending
AI summary

Glittek Granites Limited has formed a Committee of Independent Directors to evaluate and provide recommendations on an ongoing Open Offer. The Open Offer is being made by 6 acquirers (Maheshkumar Jatashankar Thanki, Bhargav Girjashankar Thanki, Bhavin Harihar Thanki, Kalpana Ashwinkumar Thanki, Hema Bhargav Thanki, and Gautam Ashwinkumar Thanki) along with Rawmin Mining And Industries Private Limited as Person Acting in Concert (PAC). The offer is for acquisition of up to 67,50,000 equity shares under SEBI (SAST) Regulations, 2011. The committee consists of 3 independent directors: M. Manish Killa (Chairman), M. Malvika Sureka, and Mr. Siddhartha Agarwal. Their recommendation will be published as per SEBI regulations.

Likely market impact

Shareholders should watch for the Independent Directors' recommendation, which will provide guidance on whether to accept or reject the open offer. The offer price and rationale will be key factors in their assessment.