BOARD APPROVES SHARE PURCHASE AGREEMENT
Price
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Awaiting price reaction for this filing.
The Board of Glittek Granites has approved a Share Purchase Agreement (SPA) where existing promoter group shareholders (Agarwal family and Kosen Ventures Pvt Ltd) will sell 1,63,51,010 equity shares (62.99% of fully paid-up capital on a fully diluted basis) to a group of acquirers led by the Thanki family (Maheshkumar, Bhargav, Bhavin, Kalpana, Hema, and Gautam Thanki). The deal will result in a change of control of the company. Completion is subject to regulatory approvals, including under the SEBI Takeover Regulations, 2011. The announcement was made at a board meeting held on January 6, 2026.
This is a change-of-control transaction that will likely trigger a mandatory open offer to public shareholders under SEBI Takeover Regulations. Shareholders should watch for the open offer price announcement and stay alert to potential stock price volatility as the deal progresses.