GLITTEK GRANITES LTD

Background and Key Transaction

The reclassification is a consequence of a completed change in control of the company.

  • A Share Purchase Agreement (SPA) was executed on January 6, 2025, between the Acquirers (Maheshkumar Jatashankar Thanki, Bhargav Girjashankar Thanki, Bhavin Harihar Thanki, Kalpana Ashwinkumar Thanki, Hema Bhargav Thanki, and Gautam Ashwinkumar Thanki) and the Sellers (Manjula Agarwal, Tushar Agarwal, Ashoke Agarwal, Ashoke Agarwal & Others HUF, and Kosen Ventures Private Limited).
  • The Acquirers agreed to acquire 1,63,51,010 equity shares of face value ₹5 each from the Sellers, representing 62.99% of the paid-up equity share capital of Glittek Granites Limited.
  • Pursuant to the SEBI Takeover Regulations, the Acquirers announced an open offer to acquire up to 67,50,000 equity shares (26% of equity capital) from public shareholders at a price of ₹12.65 per share.
  • The open offer obligations were completed, and a post-offer advertisement was submitted to the stock exchange on June 16, 2026, as per Regulation 18(12) of the SEBI Takeover Regulations.
  • The transfer of the Sale Shares from the Sellers to the Acquirers was initiated on June 25, 2026.
  • Consequential changes in the management and control of the company took place, and the Acquirers acquired control over the company effective from June 26, 2026.

Details of Reclassification

In accordance with Regulation 31A(10) of the SEBI LODR Regulations, the following Sellers are reclassified from 'Promoter/Promoter Group' to 'Public' shareholders effective June 26, 2026:

| Sr. No. | Name of the Seller | Number of Equity Shares | % of Shareholding | Existing Classification | Revised Classification |

| 1 | Ashoke Agarwal | 6,65,888 | 2.57% | Promoter | Public |

| 2 | Manjula Agarwal | 14,98,735 | 5.77% | Promoter Group | Public |

| 3 | Tushar Agarwal | 12,03,387 | 4.64% | Promoter Group | Public |

| 4 | Ashoke Agarwal & Others (HUF) | 8,000 | 0.03% | Promoter Group | Public |

| 5 | Kosen Ventures Private Limited | 1,29,75,000 | 49.98% | Promoter Group | Public |

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

New Promoter Group Classification

Following the acquisition, the Acquirers and their related entities are classified as the new Promoter and Promoter Group with the following shareholding:

| Name | Number of Equity Shares | % of Shareholding | 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 Reference and Effective Date

  • The reclassification is undertaken pursuant to Regulation 31A(10) of the SEBI LODR Regulations.
  • The revised classification is effective from June 26, 2026.
  • This revised classification will be reflected in all subsequent shareholding patterns and statutory filings of the company.