Nature of the Event

This is an Exit Letter of Offer submitted by Saffron Capital Advisors Private Limited as Manager to the Offer, providing exit opportunity to residual public shareholders of Tulive Developers Limited following the successful completion of the delisting process from BSE Limited.

Key Quantitative Figures

  • Exit Price: ₹750 per equity share of face value ₹10 each
  • Total equity shares offered in original delisting offer: 6,01,135 shares (27.90% of paid-up equity share capital)
  • Current promoter and promoter group holding: 20,32,127 equity shares (94.32% of total outstanding equity shares)
  • Exit Window period: One year from July 03, 2026 to July 02, 2027

Dates of Action

  • Initial Public Announcement (IPA): November 10, 2025
  • Detailed Public Announcement (DPA): April 04, 2026 (published April 06, 2026)
  • Letter of Offer (LOF): April 04, 2026
  • Reverse Book Building Process: April 15, 2026 to April 21, 2026
  • Post Offer Public Announcement: April 22, 2026 (published April 23, 2026)
  • Final application to BSE for delisting: April 28, 2026
  • BSE Final Delisting Approval notice: June 18, 2026 (notice number 20260618-19)
  • Trading suspension date: June 25, 2026
  • Delisting effective date: July 03, 2026
  • Exit Offer Public Announcement: June 20, 2026 (published June 22, 2026)
  • Exit Letter of Offer date: July 02, 2026

Parties Involved

Acquirers:

  • Altis Properties Private Limited (Acquirer 1)
  • GKS Technology Park Private Limited (Acquirer 2)

Promoters (PACs):

  • Mr. Atul Gupta (PAC 1)
  • Mr. K V Ramana Shetty (PAC 2)

Manager to the Offer:

  • Saffron Capital Advisors Private Limited (SEBI Registration: INM000011211)
  • Contact: Ms. Pooja Jain, Senior Manager Equity Capital Markets

Registrar to the Delisting Offer:

  • Cameo Corporate Services Limited (SEBI Registration: INR000003753)
  • Contact: Ms. Sreepriya K, Executive Vice President & Company Secretary

Escrow Bank:

  • ICICI Bank Limited

Special Depository Account Details:

  • DP Name: Stock Holding Corporation of India Limited
  • DP ID: IN301330
  • Client ID: 41946306
  • Depository: NSDL
  • Account Name: TULIVE DEVELOPERS LIMITED

Procedure for Tendering Shares

For Dematerialized Shares:

  • Shareholders must transfer shares in off-market mode to Special Depository Account
  • Submit Exit Application Form with acknowledged delivery instruction slip
  • Deadline: July 02, 2027

For Physical Shares:

  • Submit original share certificates, valid transfer forms (SH-4), PAN copy, cancelled cheque/bank proof
  • Complete Exit Application Form with all required documents
  • Deadline: July 02, 2027

Payment Terms

  • Payment will be made electronically within 10 working days of the end of each calendar month
  • Final payment cycle within 10 working days from July 02, 2027
  • Tax will be deducted at source as applicable under Income-tax Act, 2025

Special Requirements for Different Shareholder Categories

The document provides detailed documentation requirements for:

  • Individuals/HUF
  • Corporate entities
  • Power of Attorney holders
  • Non-Resident Indians (NRIs)
  • Foreign Portfolio Investors (FPIs)
  • Overseas Corporate Bodies (OCBs)
  • Custodians

Tax Implications

  • Gains on transfer of equity shares may be taxable as capital gains
  • STT not applicable as transaction is off-market
  • Different tax treatment for resident and non-resident shareholders
  • Shareholders advised to consult tax advisors for specific consequences

Important Notes

  • Equity shares will be delisted from BSE effective July 03, 2026
  • No liquid market will be available for trading after delisting
  • Shares must be free from all liens, charges and encumbrances
  • Shareholders are responsible for obtaining requisite approvals
  • Acquirers reserve right not to proceed if required approvals are not obtained