Notice of postal ballot for seeking approval of members of the Company by way of special resolution for voluntary delisting of equity shares of the Company from BSE Limited in accordance ....
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Awaiting price reaction for this filing.
Tulive Developers Ltd has sent a postal ballot notice to shareholders seeking approval for voluntary delisting of its equity shares from BSE. The company's promoter group entities — Altis Properties Pvt Ltd and GKS Technology Park Pvt Ltd, along with persons acting in concert Atul Gupta and K V Ramana Shetty — plan to buy out 6,01,135 shares (27.90% of paid-up capital) held by public shareholders and delist the company. Total shares outstanding are 21,54,375, with promoters already holding 72.10%. The floor price has been set at Rs. 719.30 per share, while the acquirers have indicated a fair price of Rs. 750 per share — the actual exit price will be discovered through a reverse book-building process. E-voting runs from December 2 to December 31, 2025, with results expected by January 1, 2026. Approval requires public shareholders voting in favour to be at least twice those voting against.
Public shareholders can tender their shares during the reverse book-building window at the floor price of Rs. 719.30 or above, with the acquirers indicating Rs. 750 as a fair price. If delisting succeeds, shareholders who don't tender can still exit within one year at the same final discovered price. The stock could see price movement based on the indicative price relative to current market price ahead of the vote.