PUBLIC ANNOUNCEMENT
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.9 pts more than Nifty Microcap 250 and 5.0 pts more than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Six members of the Thanki family (Maheshkumar, Bhargav, Bhavin, Kalpana, Hema, and Gautam Thanki) along with Rawmin Mining and Industries Pvt Ltd (PAC) are acquiring 62.99% stake (1,63,51,010 shares) in Glittek Granites from existing promoters — the Agarwal family and Kosen Ventures — via a Share Purchase Agreement dated January 6, 2026 for about ₹20.68 crore in cash. As this triggers SEBI's takeover regulations, a mandatory open offer for an additional 26% (67,50,000 shares) from public shareholders has been announced at ₹12.65 per share, totaling about ₹8.54 crore in cash consideration. After full acceptance of the open offer, the acquirers and PAC will collectively hold 88.99% of the company, and the company will retain its BSE listing (no delisting is proposed).
This is a change-of-control event — public shareholding will shrink from about 37% to roughly 11% post-offer, making the stock illiquid. Public shareholders can choose to tender their shares at ₹12.65 or stay invested; the floor price may act as a near-term support level for the stock.