Tulive Developers Limited has announced its intention to voluntarily delist from the BSE Limited, as per a recent disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Delisting Proposal Details

The company has issued a postal ballot notice seeking shareholder approval through special resolution for the voluntary delisting of its equity shares from BSE Limited. The e-voting for this proposal is scheduled from December 2-31, 2025.

Key Aspects of the Delisting Offer

Objectives of the Delisting

The delisting aims to:

1. Provide full ownership to acquirers and promoters
2. Increase financial flexibility
3. Reduce compliance costs
4. Offer public shareholders an exit opportunity

Pricing and Approval Process

• The board has set a floor price of Rs. 719.30 per share
• An indicative price of Rs. 750.00 per share has been proposed
• The company will seek public shareholder approval through postal ballot
• The e-voting period is set from December 2-31, 2025

Acquirers and Promoter Group

The delisting proposal involves the acquisition of public shareholding by promoter group entities:

• Altis Properties Private Limited ("Acquirer 1")
• GKS Technology Park Private Limited ("Acquirer 2")

These entities are acting in concert with Atul Gupta and K V Ramana Shetty, who are part of the promoter group.

Next Steps

Shareholders and potential investors should note that while the board has approved the delisting proposal and initiated the postal ballot process, further steps are required to complete the delisting. The company will need to obtain shareholder approval through the postal ballot and follow other regulatory procedures outlined by SEBI before the delisting can be finalized.

Investors are advised to keep a close watch on further announcements from Tulive Developers regarding the progress of this delisting proposal, including the outcome of the postal ballot and any updates to the offer price.

Disclosure

This article is based on the latest information provided by Tulive Developers. The details of the delisting proposal, including the floor price and indicative price, are subject to shareholder approval and may be subject to changes as the delisting process progresses.

Tulive Developers Limited, a prominent real estate company, announced significant changes to its board composition during its 63rd Annual General Meeting (AGM) held on September 25, 2025. The company made key appointments and saw the departure of a long-serving board member, signaling a strategic refresh of its leadership team.

New Independent Director Appointment

Mrs. Bhumika Jignesh Shah has been appointed as a non-executive independent director for a five-year term, spanning from the 63rd AGM to the 68th AGM. Shah brings a wealth of experience to the board, with 11 years of post-qualification expertise as a Company Secretary. Her areas of proficiency include:

• Legal affairs
• Secretarial matters
• Corporate governance
• Capital restructuring
• General business management
• SEBI regulations

The appointment of Shah was approved by the shareholders at the AGM, with 16,28,305 equity shares voting in favor of the resolution, representing a near-unanimous decision.

Outgoing Independent Director

Ms. Nirmal Cariappa completed her second term of five years as an Independent Director. Cariappa's tenure concluded on September 25, 2025, marking the end of a decade-long association with Tulive Developers Limited.

Additional Board Resolutions

The AGM also saw the approval of several other key resolutions:

1. Re-appointment of Mr. Ramana Shetty Venkata Krishna, who retired by rotation and was re-elected to the board.
2. Appointment of S.A.E. & Associates LLP as the company's Secretarial Auditors for a term of five years, covering financial years 2025-2026 to 2029-2030.
3. Re-appointment of Mr. Suresh Vaidyanathan as a whole-time director for a period of five years, effective from September 1, 2025.

Voting Results

All resolutions presented at the AGM received overwhelming support from the shareholders. Each resolution, including the financial statements adoption, director appointments, and auditor selection, was passed with 16,28,305 votes in favor, representing 100% of the votes cast.

AGM Proceedings

The AGM was conducted through video conferencing, in line with regulatory guidelines. Key board members participating in the meeting included:

• Mr. K V Ramana Shetty (Chairman)
• Mr. Atul Gupta (Director & Chairman of Stakeholder Relationship Committee)
• Mr. Pradeep Bhandari (Independent Director & Chairman of Audit Committee and Nomination and Remuneration Committee)

The changes in Tulive Developers' board composition reflect the company's commitment to maintaining strong corporate governance and bringing fresh perspectives to its leadership. These strategic appointments are likely aimed at positioning the company for future growth and regulatory compliance in the evolving real estate sector.