Receipt of Initial public announcement dated November 10, 2025 under SEBI (Delisting of Equity Shares) Regulation, 2021 in relation to the proposal to voluntarily delist the fully paid ....
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Tulive Developers Ltd has received an Initial Public Announcement (IPA) dated November 10, 2025, from promoter group entities Altis Properties Pvt Ltd and GKS Technology Park Pvt Ltd, along with persons acting in concert (Mr. Atul Gupta and Mr. K V Ramana Shetty), expressing their intention to voluntarily delist the company's equity shares from BSE (the only exchange where they are listed). The acquirers currently hold 72.10% of the paid-up equity share capital, which consists of 21,54,375 shares of face value Rs 10 each (total Rs 2,15,43,750). The rationale cited includes achieving full ownership, reducing listing compliance costs, and providing public shareholders an exit opportunity amid market volatility. The floor price will be determined per Regulation 19A, and the final price will be discovered through a reverse bookbuilding process. Saffron Capital Advisors is the manager to the offer.
Public shareholders will get a chance to exit by tendering shares in the delisting offer at a discovered price determined via reverse bookbuilding; however, the delisting requires a special resolution where votes in favor must be at least twice those against, and acquirers retain discretion to reject the discovered price. Shareholders should monitor floor price disclosure and board/ shareholder approvals before deciding to tender.