As per attachment
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Independent Directors Committee of Glittek Granites Ltd has provided its recommendation on an open offer made by 6 individuals (Maheshkumar Jatashankar Thanki and family) along with Rawmin Mining And Industries Private Limited (PAC). The offer is to acquire up to 67,50,000 equity shares representing 26% of the company's equity capital at ₹12.65 per share, totaling ₹8.53 crore. The IDC stated the offer price appears fair and reasonable as it meets SEBI SAST Regulations requirements. However, the committee highlighted that the current market price of ₹44.78 per share (as of May 12, 2026) is significantly higher than the offer price, advising shareholders to independently evaluate the offer. The recommendation was unanimous.
The offer price of ₹12.65 is significantly below the current market price of ₹44.78, suggesting shareholders are unlikely to tender shares unless they need liquidity. The IDC's negative undertone (pointing out the price gap) indicates the offer may not attract sufficient acceptance.