As per attachment
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Glittek Granites Ltd has received a mandatory Open Offer from 6 individuals (Maheshkumar, Bhargav, Bhavin, Kalpana, Hema, and Gautam Thanki) along with Rawmin Mining and Industries Private Limited (PAC). The offer is to acquire up to 67,50,000 equity shares (26% of share capital) at Rs. 12.65 per share in cash. The total maximum consideration is Rs. 8.54 crore. This Open Offer has been triggered under SEBI (SAST) Regulations following an underlying Share Purchase Agreement (SPA) dated January 6, 2025, where the Acquirers agreed to purchase 62.99% stake (1,63,51,010 shares) from the existing promoters (Manjula Agarwal, Tushar Agarwal, Ashoke Agarwal, Ashoke Agarwal HUF, and Kosen Ventures) at the same price of Rs. 12.65 per share, for Rs. 20.68 crore. The tendering period opens on May 19, 2026 and closes on June 2, 2026. No statutory approvals are currently required for the offer.
This represents a change of control at Glittek Granites, with the Thanki family and Rawmin Mining set to acquire a majority stake. Existing public shareholders have the option to tender at Rs. 12.65, which aligns with the prevailing market price, and can expect payment by June 16, 2026 if shares are accepted.