Announced Sat, 27 Jun · 11:53 IST

Full board overhaul at Glittek Granites after change of control via open offer

Ceo ResignedCfo ResignedMultiple Ind Directors ResignedPromoter Family Board EntryKmp ResignedManagement Changes View source PDF

Price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+4.0%1-day move

₹39.69

prior close

—

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

————+4.0+6.1+8.2+10.3+12.5+17.1+36.1———

Up moveDown movePending

AI summary

Glittek Granites saw a complete board reshuffle after a change of control via open offer by new shareholders. The two previous Managing Directors, three independent directors, and the CFO resigned. Three Thanki family members (cousins) were appointed as Chairperson, Managing Director and Whole-time Director, with their nephew as new CFO. Three new independent directors also joined. The company plans to rename to Rawmin Neo Elements Limited and shift its registered office from Karnataka to Maharashtra.

Likely market impact

Complete change of control. Thanki family now runs the board. Company will rename to Rawmin Neo Elements and shift to Maharashtra.