Key Quantitative Figures

  • Exit Price: ₹750 per equity share of face value ₹10 each
  • Number of equity shares acquired in delisting offer: 6,01,135 shares
  • Percentage of paid-up equity share capital acquired: 27.90%
  • Post-delisting 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 Date: November 10, 2025
  • Detailed Public Announcement Date: April 04, 2026 (published April 06, 2026)
  • Reverse Book Building Process Period: 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
  • Exit Offer Public Announcement: June 20, 2026 (published June 22, 2026)
  • BSE Final Delisting Approval Date: June 18, 2026 (notice number 20260618-19)
  • Trading Suspension Date: June 25, 2026
  • Formal Delisting Date: July 03, 2026
  • Exit Window Opening: July 03, 2026
  • Exit Window Closing: July 02, 2027

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)

Service Providers:

  • Manager to Delisting Offer: Saffron Capital Advisors Private Limited (SEBI Registration: INM000011211)
  • Registrar to Delisting Offer: Cameo Corporate Services Limited (SEBI Registration: INR000003753)
  • Escrow Bank: ICICI Bank Limited
  • Special Depository Account: Stock Holding Corporation of India Limited (DP ID: IN301330, Client ID: 41946306, NSDL)

Procedure Details

For Dematerialized Shares:

  • Shareholders must transfer shares to Special Depository Account in off-market mode
  • Required documents: Exit Application Form, depository participant instruction proof
  • CDSL account holders must use inter-depository delivery instruction slip

For Physical Shares:

  • Required documents: Exit Application Form, original share certificates, valid share transfer form (SH-4), PAN copy, cancelled cheque/bank passbook, address proof
  • Signatures must match records with Registrar to the Delisting Offer

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

Payment Terms

  • Payment will be made by electronic credit to bank accounts
  • Monthly payment cycle within 10 working days of each calendar month end
  • Final payment within 10 working days from July 02, 2027
  • Tax will be deducted at source as applicable under Income-tax Act, 2025
  • Non-resident shareholders must provide appropriate tax documentation

Non-Resident Shareholder Requirements

  • Must obtain all requisite approvals (corporate, statutory, regulatory, foreign exchange, tax)
  • Must furnish tax residence certificates, Form 10F where applicable
  • Must provide documentation for determining nature of capital gains and applicable tax withholding
  • FPIs must provide SEBI registration certificates and relevant notifications

Tax Implications

  • Gains arising from transfer of equity shares taxable as capital gains under Income-tax Act, 2025
  • Transaction not subject to securities transaction tax (STT) as off-market transaction
  • Different tax treatment for resident and non-resident shareholders
  • Shareholders advised to consult tax advisors for specific consequences

Document Submission

  • All documents must be submitted to Registrar to Delisting Offer at: Cameo Corporate Services Limited, Subramanian Building, No.1, Club House Road, Chennai – 600 002, Tamil Nadu, India
  • Hand delivery accepted Monday-Friday 10 AM to 5 PM (except public holidays)
  • Documents must be received on or before July 02, 2027

Additional Information

  • The document includes comprehensive Exit Application Forms with detailed instructions for different shareholder categories (individual/HUF, corporate, power of attorney holders, custodians, NRIs, FPIs/OCBs)
  • Detailed checklist of required documents provided for each shareholder category
  • Specific procedures for transmission cases, signature attestation requirements, and bank account details submission
  • The exit offer is made free from all liens, charges and encumbrances