BSE has announced the Offer to Buy (OTB) – Acquisition Window (Takeover) schedule for GLITTEK GRANITES LTD (Symbol: GLITTEKG, Scrip Code: 513528, ISIN: INE741B01027). The offer opens on Tuesday, 19th May 2026 and closes on Tuesday, 2nd June 2026. The offer price is Rs. 12.65 per share for up to 67,50,000 equity shares with a face value of Rs. 5.00.

Key Points

• Security: GLITTEK GRANITES LTD | Symbol: GLITTEKG | Scrip Code: 513528 | ISIN: INE741B01027
• Offer Size: Up to 67,50,000 equity shares
• Offer Price: Rs. 12.65 per share
• Face Value: Rs. 5.00
• Market Lot: 1
• Bid Offering Period: 19th May 2026 to 2nd June 2026 (9:15 AM – 3:30 PM)
• Give-up (last day): 19th May 2026 to 1st June 2026 (9:15 AM – 3:30 PM)
• Take-up (last day): 2nd June 2026 (9:15 AM – 3:30 PM)
• Take-up extended session on 2nd June 2026: 9:15 AM – 4:00 PM
• Bidding categories include FII, FI, MF, IC, OTH (QIBs), NOH (NIB), CO (Company), and IND (Individual)

Regulatory Changes

No new regulatory changes introduced. This notice operationalizes an existing OTB mechanism under exchange rules. Trading members should refer to Exchange Notice No. 20150930-1 (dated 30 September 2015) and No. 20170203-29 (dated 3 February 2017) for operational instructions.

Compliance Requirements

• Trading Members must ensure the UCC (Unique Client Code) of each investor is registered and updated with the correct PAN Number and Category in the Exchange UCC database.
• Members can only bid for investors holding shares in demat form.
• Members and Custodians should note that if no securities are accepted, no End of Issue files will be generated on the Extranet.
• Extranet files for bid acceptance will be available only after confirmation of acceptance is received from the Merchant Banker/RTA post issue closure.
• For Leased Line URL access settings, refer to Exchange Circular No. 20170503-12.

Important Dates

Impact Assessment

This circular directly impacts trading members and custodians participating in the GLITTEK GRANITES LTD takeover offer. The offer covers up to 67,50,000 equity shares at Rs. 12.65 per share, indicating a potential total acquisition outlay of approximately Rs. 85.4 crore. Members need to be operationally ready on the iBBS platform (internet: ibbs.bseindia.com) or RTRMS (internet: rtrms.bseindia.com) by 19th May 2026. Contact for operational support: Trading Operations at 022-22728005 or user.trdops@bseindia.com.

BSE Notice No. 20260518-1 announces the opening of an Offer to Buy (Acquisition Window) under the takeover mechanism for Glittek Granites Limited. Six acquirers — Maheshkumar Jatashankar Thanki, Bhargav Girjashankar Thanki, Bhavin Harihar Thanki, Kalpana Ashwinkumar Thanki, Hema Bhargav Thanki, and Gautam Aahwinkumar Thanki — along with Person Acting in Concert (PAC) Rawmin Mining And Industries Private Limited, are making an open offer to public shareholders of Glittek Granites Limited.

Key Points

• Offer price: Rs. 12.65 (Rupees Twelve and Paise Sixty Five) per equity share, payable in cash
• Shares targeted: up to 67,50,000 (Sixty Seven Lakhs Fifty Thousand) fully paid-up equity shares
• Acquisition size: 26% of the total equity share capital of Glittek Granites Limited
• Face value of shares: Rs. 5 per equity share
• Offer made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (as amended), specifically Regulations 3(1) and 4
• The Letter of Offer is attached to the notice for market participant review
• Offer details are available on the BSE website at www.bseindia.com

Regulatory Changes

No new regulatory changes. The offer is conducted pursuant to the existing SEBI framework:

• SEBI Circular No. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
• SEBI Circular No. CFD/DCR2/CIR/P/2016/131 dated December 9, 2016
• BSE Exchange notices: 20170210-16 (Feb 10, 2017), 20190424-35 (April 24, 2019), 20200528-32 (May 28, 2020), 20201102-43 (Nov 2, 2020), and 20210825-62 (Aug 25, 2021) covering Revised Guidelines for acquisition of shares through the stock exchange for tender offers under Takeovers, Buybacks, and Delisting.

Compliance Requirements

• Trading Members and Custodians must note the open offer window and facilitate transactions in accordance with the SEBI and BSE revised guidelines for acquisition through the stock exchange tender-offer mechanism.
• All market participants must process the offer in compliance with SEBI (SAST) Regulations, 2011 and related BSE notices.
• The offer must follow the Revised Guidelines per SEBI Circular No. CFD/DCR2/CIR/P/2016/131 and BSE notices 20170210-16 and 20190424-35.

Important Dates

• Notice Date: May 18, 2026
• Offer Opens: Tuesday, May 19, 2026
• Offer Closes: Tuesday, June 2, 2026
• Excluded Date: May 28, 2026 (SEBI Holiday — not counted in offer window)

Impact Assessment

This is a significant corporate action for Glittek Granites Limited shareholders. Public shareholders of the target company have the opportunity to tender their shares at the offer price of Rs. 12.65 per share during the offer window (May 19 – June 2, 2026). The acquisition of 26% of equity share capital by the acquirer group — if fully subscribed — would represent a substantial change in the ownership structure of the company. Trading members and custodians must be prepared to handle client orders and settlements under the BSE’s tender-offer acquisition mechanism for the duration of the offer window. The offer is binding under SEBI (SAST) Regulations, 2011.

ICCL (Indian Clearing Corporation Ltd.) has published the settlement calendar for the Offer to Buy – Acquisition Window (Takeover) for Glittek Granites Limited. The bidding window runs from May 19, 2026 to June 2, 2026 under Settlement No. 2026053, with obligations download on June 15, 2026 and final settlement on June 16, 2026.

Key Points

• Settlement Type: Takeover (Settlement No. 2026053)
• Demat shares must be delivered exclusively through the Early Pay-in of Shares mechanism via CDSL or NSDL
• Members/Custodians must use Market Type “(Takeover)” and Settlement No. 2026053 in depository system entries
• CDSL & NSDL early pay-in securities will be earmarked/blocked in client accounts under the requisite market type and settlement number
• Members and Custodians are NOT required to upload any EPN file
• Members should refer to MBRSTD_OTB_CM_mmm_SettNo file for client-wise Stamp Duty charges
• Reference Notice No. 20200528-32 (May 28, 2020) for revised guidelines on acquisition of shares through Stock Exchange

Regulatory Changes

No new regulatory changes introduced. This circular operationalizes the existing mechanism for acquisition of shares through Stock Exchange as per revised guidelines referenced in Notice No. 20200528-32 dated May 28, 2020.

Compliance Requirements

• Members/Custodians must ensure early pay-in of securities is reflected in BSE/ICCL systems before prescribed timelines for bid acceptance/confirmation on the BSE OTB platform
• Early pay-in must be completed sufficiently in advance of the closure of the BSE OTB Bidding window (for members placing bids) and the Confirmation window (for Custodians confirming bids)
• Use correct Market Type “(Takeover)” and Settlement No. 2026053 in all depository system transactions
• No EPN file upload required

Important Dates

Impact Assessment

This circular is operationally significant for stock brokers (members) and custodians participating in the Glittek Granites Limited takeover offer. It has no direct impact on the broader market. Participants must coordinate early pay-in timelines carefully to avoid bid rejection. The use of the BSE OTB (Offer to Buy) platform requires attention to both the bidding window closure and the custodian confirmation window. Contact ICCL Help Desk at 022-69158590 / 45720490 / 45720690 or iccl.helpdesk@icclindia.com for clarifications.