Open Offer13 May 2026, 03:42 pm
Glittek Granites: IDC Recommends Open Offer at ₹12.65
AI Summary
Glittek Granites Ltd's Independent Director Committee (IDC) met on May 13, 2026, to provide recommendations on the open offer by Maheshkumar Jatashankar Thanki and others (Acquirers) along with Rawmin Mining And Industries Private Limited (PAC). The Acquirers and PAC are making an open offer to acquire up to 67,50,000 equity shares, representing 26% of the company's equity share capital, at a price of ₹12.65 per equity share. The total consideration for the offer is ₹8,53,87,500, payable in cash. Vivro Financial Services Private Limited is the manager to the offer.
Key Highlights
- Glittek Granites' IDC recommends open offer at ₹12.65 per share.
- Open offer aims to acquire 26% of Glittek Granites' equity.
- Total open offer consideration is ₹8,53,87,500.
- Vivro Financial Services is the manager to the open offer.
- IDC members have no conflict of interest, except Manish Killa's minor shareholding.