Glittek Granites Completes Share Transfers, Reclassifies Sellers and Acquirers in Stakeholding Pattern
Glittek Granites Ltd has completed significant changes in its shareholder structure following a substantial share purchase agreement (SPA) and subsequent open offer. The company confirmed the reclassification of former promoters and shareholders to the public category as of June 26, 2026.The transactions involved the transfer of 1,63,51,010 Equity Shares from several sellers to a group of acquirers. These shares represented 62.99% of the company's equity share capital. The SPA for this transaction was executed on January 6, 2025.
In addition to the private purchase, the Acquirers had also conducted an open offer to the public shareholders. This offer allowed investors 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 payable in cash. The Acquirers confirmed completion of all obligations related to this open offer.
The closing of the sale shares transfer from the Sellers to the Acquirers was initiated on June 25, 2026. The Acquirers subsequently acquired control over Glittek Granites Ltd effective June 26, 2026.
Sellers Reclassified as Public Shareholders
As a result of these transactions, the sellers who were previously classified under Promoter and Promoter Group status have been reclassified as public shareholders. The details of the sellers and their holdings are provided below:| Sr. No. | Name of the Seller | Number of Equity Shares till June 25, 2026 | % of Equity Shareholding till June 25, 2026 | Existing Classification | Revised Classification w.e.f. June 26, 2026 |
|---|---|---|---|---|---|
| 1. | Ashoke Agarwal | 6,65,888 | 2.57% | Promoter | Public |
| 2. | Manjula Agarwal | 14,98,735 | 5.77% | Promoter Group | Public |
| 3. | Tushar Agarwal | 12,03,387 | 4.64% | Promoter Group | Public |
| 4. | Ashoke Agarwal & Others (HUF) | 8,000 | 0.03% | Promoter Group | Public |
| 5. | Kosen Ventures Private Limited | 1,29,75,000 | 49.98% | Promoter Group | Public |
| Total | 1,63,51,010 | 62.99% |
Acquirers Holdings Post Transaction
The shareholding of the Acquirers in Glittek Granites and their classification as members of the promoter group are detailed as follows:| Sr. No. | Name of the Acquirers | Number of Equity Shares held | % of Equity Shareholding | Classification w.e.f. June 26, 2026 |
|---|---|---|---|---|
| 1. | Maheshkumar Jatashankar Thanki | 45,81,154 | 17.65% | Promoter |
| 2. | Bhargav Girjashankar Thanki | 37,70,001 | 14.52% | Promoter |
| 3. | Bhavin Harihar Thanki | 45,81,154 | 17.65% | Promoter |
| 4. | Kalpana Ashwinkumar Thanki | 30,94,180 | 11.92% | Promoter Group |
| 5. | Hema Bhargav Thanki | 8,11,152 | 3.12% | Promoter Group |
| 6. | Gautam Ashwinkumar Thanki | 14,86,972 | 5.73% | Promoter Group |
| 7. | Rawmin Mining And Industries Private Limited | - | - | Promoter Group |
| Total | 1,83,24,613 | 70.59% |
Stock Price Movement
Glittek Granites Ltd shares settled at ₹39.69 on Thursday, edging up by 1.98%. The stock finished the day after trading within a range spanning from an intraday low of ₹39.60 to its closing high.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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