Vivro Financial Services issues pre-offer advertisement for mandatory open offer by six acquirers and PAC to acquire up to 67.5 lakh shares (26%) of Glittek Granites.
Offer price is ₹12.65 per equity share in cash, with tendering period from May 19 to June 2, 2026; independent directors committee deems price fair.
SEBI incorporated several material updates in Letter of Offer including contingent liabilities, related party clarifications, and historical non-compliance by promoters.
The open offer is mandatory under SEBI SAST Regulations triggered by acquisition and is not conditional upon minimum acceptance level.