Vivro Financial Services Pvt. Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Glittek Granites Ltd ("Target Company").
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Vivro Financial Services, acting as Manager to the Offer, has filed a Draft Letter of Offer with BSE for a mandatory open offer to public shareholders of Glittek Granites Ltd. The offer is to acquire up to 67,50,000 equity shares (26% of the share capital) at ₹12.65 per share, aggregating to ₹8.54 crore, payable in cash. The offer is triggered by a Share Purchase Agreement signed on January 6, 2025, under which six members of the Thanki family along with Rawmin Mining and Industries Pvt Ltd (PAC) will buy 1,63,51,010 shares (62.99%) from existing promoters (the Agarwal family and Kosen Ventures) at the same ₹12.65 per share price, totaling around ₹20.68 crore. The open offer window will run from March 4, 2026 to March 17, 2026. Existing promoters will completely exit the company, and the Thanki family/Rawmin group will take control while retaining the listing status.
Public shareholders of Glittek Granites can tender their shares at ₹12.65 during the offer window if they wish to exit; the acquirers intend to keep the company listed and no delisting is proposed, so shareholders who do not tender will remain invested under new promoter control.