Glittek Granites Limited

A significant shift in control is underway at Glittek Granites Limited, as the promoters, including Kosen Ventures and the Agarwal family, have sold a 62.99% stake to the Thanki family and Rawmin Mining, effectively ceasing their promoter status. This transaction, completed through a share purchase agreement and a subsequent open offer, has triggered a complete overhaul of the company's board, with six new directors, including three from the Thanki family, appointed alongside a new CFO. The company is also rebranding and relocating its registered office, signaling a potential strategic redirection under the new ownership, which now controls approximately 89% of the company's equity. Investors should monitor the new management's plans and assess the potential impact on Glittek Granites' operations and future performance.