GLITTEK GRANITES LTD

Background and Transaction Details

  • The reclassification follows a share purchase agreement (SPA) dated January 6, 2025 between acquirers (Maheshkumar Jatashankar Thanki, Bhargav Girjashankar Thanki, Bhavin Harihar Thanki, Kalpana Ashwinkumar Thanki, Hema Bhargav Thanki, and Gautam Ashwinkumar Thanki) and sellers (Manjula Agarwal, Tushar Agarwal, Ashoke Agarwal, Ashoke Agarwal & Others HUF, and Kosen Ventures Private Limited).
  • Acquirers agreed to acquire 1,63,51,010 equity shares (face value ₹5 each) representing 62.99% of the company's equity share capital from sellers.
  • Pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, acquirers announced an open offer to public shareholders to acquire up to 67,50,000 equity shares (26% of equity capital) at ₹12.65 per share payable in cash.
  • Open offer obligations were completed, with a post-offer advertisement submitted to stock exchange on June 16, 2026 under Regulation 18(12) of SEBI Takeover Regulations.
  • Transfer of sale shares from sellers to acquirers was initiated on June 25, 2026.
  • Consequential changes in management and control occurred as specified in Board Meeting outcome submitted to stock exchange on June 25, 2026.
  • Acquirers acquired control over the company effective June 26, 2026.

Reclassification Details

Sellers reclassified from 'Promoter/Promoter Group' to 'Public Shareholders' effective June 26, 2026:

| Name | Shares Held | % Holding | Previous Classification | New Classification |

| Ashoke Agarwal | 6,65,888 | 2.57% | Promoter | Public |

| Manjula Agarwal | 14,98,735 | 5.77% | Promoter Group | Public |

| Tushar Agarwal | 12,03,387 | 4.64% | Promoter Group | Public |

| Ashoke Agarwal & Others (HUF) | 8,000 | 0.03% | Promoter Group | Public |

| Kosen Ventures Private Limited | 1,29,75,000 | 49.98% | Promoter Group | Public |

| Total | 1,63,51,010 | 62.99% | | |

New Promoter Group Composition

Acquirers classified as new promoter group with following shareholding:

| Name | Shares Held | % Holding | Classification |

| Maheshkumar Jatashankar Thanki | 45,81,154 | 17.65% | Promoter |

| Bhargav Girjashankar Thanki | 37,70,001 | 14.52% | Promoter |

| Bhavin Harihar Thanki | 45,81,154 | 17.65% | Promoter |

| Kalpana Ashwinkumar Thanki | 30,94,180 | 11.92% | Promoter Group |

| Hema Bhargav Thanki | 8,11,152 | 3.12% | Promoter Group |

| Gautam Ashwinkumar Thanki | 14,86,972 | 5.73% | Promoter Group |

| Rawmin Mining And Industries Private Limited | - | - | Promoter Group |

| Total | 1,83,24,613 | 70.59% | |

Regulatory Basis

Reclassification is based on disclosures in open offer documents including letter of offer dated May 16, 2026 and undertakings received from sellers, in compliance with Regulation 31A of SEBI LODR Regulations.

Future Reporting

The revised classification will be reflected in all future shareholding patterns and statutory filings of the company.