Tulive Developers Initiates Exit Offer for Residual Public Shareholders at ₹750 Per Share Following Delisting Approval

Tulive Developers Initiates Exit Offer for Residual Public Shareholders at ₹750 Per Share Following Delisting Approval​

Tulive Developers Ltd. has issued an Exit Letter of Offer, inviting all Residual Public Shareholders to tender their Equity Shares at a fixed price following the company's successful delisting process from BSE Limited. The transaction involves the Acquirers acquiring shares in the company post-delisting.

The Acquirers are Altis Properties Private Limited and GKS Technology Park Private Limited. These companies, along with PAC 1 (Mr. Atul Gupta) and PAC 2 (Mr. K V Ramana Shetty), constitute the Promoter Group of Tulive Developers Ltd. The Exit Offer sets the price for these remaining public shareholders at ₹750 per Equity Share.

The shares of Tulive Developers Ltd., which have a face value of ₹10/- each, were scheduled to be delisted from BSE with effect from July 03, 2026, after a specified period of suspension from trading began on June 25, 2026. The Delisting Offer initially involved the Acquirers making an offer for 6,01,135 Equity Shares, representing 27.90% of the paid-up equity share capital at that time.

Exit Offer Details​

The company reported that following the successful closure of the Delisting Offer and the acquisition of shares by the Promoter Group, their combined holding increased to 20,32,127 Equity Shares, accounting for 94.32% of the total outstanding Equity Shares as of the date of the Exit Letter of Offer.

The Exit Window is available for Residual Public Shareholders who either did not participate in the initial Reverse Book Building Process or those who unsuccessfully tendered their shares during that period. These shareholders can tender their Equity Shares at the Exit Price between July 03, 2026, and July 02, 2027.

Key details of the Exit Offer are summarized below:

Procedure and Compliance​

The Exit Letter provides comprehensive instructions for Residual Public Shareholders regarding the tendering process. The procedure differs based on whether the shareholder holds shares in physical form or dematerialized (Demat) form.

For shareholders holding shares in Demat form, the tender requires submitting the Exit Application Form along with a counterfoil/photocopy of their depository participant instruction evidencing the transfer of dematerialized Equity Shares into the Special Depository Account maintained by the company with Stock Holding Corporation of India Limited. This account is designated for TULIVE DEVELOPERS LIMITED and has been assigned DP ID IN301330 and Client ID 41946306.

For shareholders holding shares in physical form, submission requires the Exit Application Form along with relevant documents such as original share certificates, a valid share transfer form (SH-4), and proof of payment capability (bank passbook or bank statement attested by the bank). These documents must be received by the Registrar to the Delisting Offer before the closing date.

The Acquirers have taken steps to ensure that the rights of Residual Public Shareholders are protected, committing to compliance with relevant regulations. All tendering is conducted through an off-market transaction.

Payment Structure and Governing Bodies​

The Manager to the Delisting Offer for this process is Saffron Capital Advisors Private Limited. The Registrar to the Delisting Offer is Cameo Corporate Services Limited.

The payment of consideration to validly tendered shares will be made by electronic credit after verification of the Exit Application Form and receipt of the Equity Shares in the Special Depository Account. Payments are intended to be made on a monthly basis, within 10 working days of the end of the calendar month. The last Monthly Payment Cycle is scheduled to commence within 10 working days from July 02, 2027.

Stock Price Movement​

Shares of Tulive Developers Ltd settled at ₹1170.00 on Wednesday, showing no change from the previous close. The stock traded completely flat throughout the day, maintaining its price point from opening to closing trade.