Maheshkumar Thanki and five other acquirers, with PAC Rawmin Mining, launch a mandatory open offer for 26% of Glittek Granites at ₹12.65/share, aggregating ₹8.54 crore.
The offer, triggered by a Share Purchase Agreement to acquire 62.99% from promoters, is made pursuant to SEBI SAST Regulations and opens on May 19, 2026.
Post-offer and underlying transaction, acquirers' holding will reach 88.99%, resulting in a change of control and potential breach of minimum public shareholding rules.
The offer is not conditional on minimum acceptance and includes detailed procedures for tendering both dematerialized and physical shares.