Vivro Financial Services Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement for the attention of the public shareholders of Glittek Granites Ltd ....
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Glittek Granites Ltd (BSE: 513528) has announced a mandatory Open Offer triggered by a Share Purchase Agreement dated January 6, 2026, under SEBI Takeover Regulations. The Thanki family (six individuals as Acquirers) along with Rawmin Mining and Industries Pvt Ltd (PAC) will acquire 1,63,51,010 shares (62.99% of equity capital) from the existing promoter group — the Agarwal family and Kosen Ventures Pvt Ltd — for approximately ₹20.68 crore. Following this change of control, the Agarwal promoters will be reclassified as public shareholders. The Open Offer is for an additional 67,50,000 shares (26%) at ₹12.65 per share, totalling about ₹8.54 crore, payable in cash. Vivro Financial Services is managing the offer, and the company will remain listed with no delisting proposed.
Public shareholders of Glittek Granites get a chance to exit at ₹12.65 per share during the tendering window. The stock may see price movement around the open offer price as a near-term benchmark, and there will be a complete change in control from the Agarwal promoter group to the Thanki family.