Vivro Financial Services Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE a copy of Detailed Public Statement for the attention of the Equity Shareholders of Glittek Granites ....
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Six members of the Thanki family (Maheshkumar, Bhargav, Bhavin, Kalpana, Hema, Gautam) along with Rawmin Mining and Industries Pvt Ltd (PAC) have triggered a mandatory open offer for Glittek Granites after signing a Share Purchase Agreement (SPA) on January 6, 2026 with existing promoters (Agarwal family and Kosen Ventures). The acquirers will buy 1,63,51,010 shares (62.99% stake) at ₹12.65 per share under the SPA, aggregating ₹20.68 crore. The open offer is for an additional 67,50,000 shares (26%) from public shareholders at the same price of ₹12.65, with a total open offer size of ₹8.54 crore. Post-offer, the acquirers will hold 88.99% of the company. The Thanki family, which owns Rawmin Mining (a bauxite and iron ore mining company), plans to expand Glittek's activities into related mineral businesses.
Public shareholders of Glittek Granites can tender their shares at ₹12.65 each during the tendering period. The acquisition implies a change in control and management, with the new promoters being mining sector operators. The offer price appears modest and the company is small and infrequently traded, so investors should weigh the offer price against typical trading levels before tendering.