The open offer to acquire shares of Glittek Granites Limited has concluded with the acquirers successfully securing 19,73,603 equity shares at a price of ₹12.65 per share. The offer, which opened on May 19, 2026, and closed on June 02, 2026, was made by a group of six acquirers and Rawmin Mining And Industries Private Limited (PAC) pursuant to Regulation 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Vivro Financial Services Private Limited acted as the Manager to the Offer. The total consideration paid for the accepted shares amounted to ₹2,49,66,077.95. While the offer was initially made for up to 67,50,000 equity shares representing 26% of the equity share capital, the actual acceptance resulted in the acquirers increasing their stake by 7.60%.

Acquisition Details

The acquirers had previously purchased 1,63,51,010 shares via a Share Purchase Agreement dated January 06, 2026. Following the open offer acquisition, the collective post-offer shareholding of the acquirers and PAC stands at 1,83,24,613 equity shares, which constitutes 70.59% of the fully diluted equity share capital of the target company.

Shareholding Pattern

The public shareholding has reduced as a result of the offer. Prior to the offer, the public held 96,08,390 shares (37.01%), which has now decreased to 76,34,787 shares (29.41%). The payment of consideration for the accepted shares was completed on June 09, 2026. MUFG Intime India Private Limited served as the Registrar to the Offer.

ICICI Bank Limited has completely exited its position in Glittek Granites Ltd by selling its entire shareholding. The bank disposed of 22,20,000 equity shares, representing approximately 8.55% of the company's issued and paid-up equity share capital. The transaction was executed through a promoter buyback in multiple tranches, with the final sale concluded on June 08, 2026.

The disclosure was made to the stock exchanges on June 10, 2026, in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to the sale, ICICI Bank held 22,20,000 equity shares carrying voting rights, which accounted for 8.55% of both the total share capital and the total diluted share capital of the target company. The bank confirmed that it did not belong to the promoter or promoter group of Glittek Granites Ltd.

Following the disposal, ICICI Bank's holding in the company has reduced to nil. The bank no longer holds any shares carrying voting rights, encumbered shares, or voting rights otherwise than by shares. The total equity share capital of Glittek Granites Ltd remains unchanged at Rs. 12,97,97,000, comprising 2,59,59,400 equity shares of Rs. 5 each.

The shares of Glittek Granites Ltd are listed on BSE Limited and the National Stock Exchange of India Limited. The filing confirmed that there were no warrants or convertible securities involved in the transaction, and no voting rights were held other than through the equity shares that were sold.

Shareholding Details