Glittek Granites Ltd has announced a significant ownership change with the execution of a share purchase agreement for the sale of 62.99% of its equity stake. The Board of Directors approved this major transaction during their meeting held on January 6, 2026.

Transaction Details

The share purchase agreement involves the sale of 1,63,51,010 equity shares, representing 62.99% of the company's fully paid-up share capital on a fully diluted basis. The transaction structure includes multiple parties across three categories:

Regulatory Compliance and Approvals

The completion of this proposed transaction remains subject to obtaining all necessary regulatory and contractual approvals. The company has specifically highlighted compliance requirements under the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, as amended from time to time.

The formal communication was addressed to The Stock Exchange, Mumbai, with security code 513528, ensuring proper notification to relevant market authorities. The company's registered office is located at Honnappa Building, 2nd Floor, V.V. Extension, Behind MCM ITI College, Old Madras Road, Hoskote, Bangalore Rural, Karnataka.

Corporate Governance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Lata Bagri signed the disclosure letter, ensuring proper regulatory notification to the stock exchanges.

This transaction represents a complete change in the promoter group structure, with the existing Agarwal family promoters transferring majority control to the Thanki family members. The deal encompasses both individual and entity stakeholders, indicating a comprehensive ownership transition for the granite manufacturing company.

Glittek Granites Limited has filed an official Form C disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015, revealing a significant share disposal transaction by Managing Director and Promoter Mr. Ashoke Agarwal. The regulatory filing shows corrected shareholding calculations that resulted in an increased percentage holding despite share disposal.

Transaction Details and Timeline

According to the official Form C filing under Regulation 7(2), Managing Director Mr. Ashoke Agarwal disposed of 8,25,888 equity shares through on-market transactions on December 24, 2025. The company received intimation of this transaction on December 26, 2025.

Corrected Shareholding Pattern

The official regulatory filing reveals corrected baseline shareholding figures for Mr. Ashoke Agarwal. Despite disposing of shares, his percentage holding increased from 2.56% to 11.18% due to revised calculations in the regulatory document.

Regulatory Compliance Framework

The transaction maintains full compliance with SEBI regulations. Glittek Granites Limited has filed the mandatory disclosure under SEBI (Prohibition of Insider Trading) Regulations, 2015 to ensure transparency in promoter shareholding reporting.

Derivative Trading Status

The Form C filing confirms no derivative trading activity was undertaken by the promoter during this period. The derivatives section shows "NA" indicating no futures or options contracts were executed by Mr. Ashoke Agarwal.

Mr. Ashoke Agarwal continues in his role as Managing Director while maintaining his revised shareholding position in Glittek Granites Limited. The corrected filing demonstrates the company's commitment to accurate regulatory compliance and transparency in insider trading disclosures.