Glittek Granites Constitutes Independent Directors' Committee for Open Offer Recommendation Under SEBI (SAST) Regulations

Glittek Granites Limited has constituted a Committee of Independent Directors to issue a recommendation on an Open Offer for the acquisition of up to 67,50,000 equity shares of the company. The committee has been formed pursuant to Regulation 26(6) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, commonly referred to as SEBI (SAST) Regulations. The development was communicated to BSE Limited on 12.05.2026 by the company's Secretary, Lata Bagri.

Background of the Open Offer

The Open Offer pertains to the proposed acquisition of up to 67,50,000 equity shares of Glittek Granites Limited. The offer involves six acquirers — Maheshkumar Jatashankar Thanki, Bhargav Girjashankar Thanki, Bhavin Harihhar Thanki, Kalpana Ashwinkumar Thanki, Hema Bhargav Thanki, and Gautam Ashwinkumar Thanki — collectively referred to as the Acquirers. Rawmin Mining And Industries Private Limited is participating as the Person Acting in Concert (PAC) in the transaction.

The regulatory process was initiated through a Public Announcement dated January 6, 2026, followed by a Detailed Public Statement published on January 13, 2026 in the following publications:

Financial Express (English – all editions)

Jansatta (Hindi – all editions)

Navshakti (Marathi – Mumbai edition)

Udaykala (Regional – Bangalore edition)

A Draft Letter of Offer was subsequently filed on January 21, 2026.

Composition of the Independent Directors' Committee

In accordance with the applicable provisions of SEBI (SAST) Regulations, 2011, the company has formed a three-member committee. The following table outlines the composition of the Committee of Independent Directors:

Member: Designation Mr. Manish Killa Chairman Mr. Malvika Sureka Member Mr. Siddhartha Agarwal Member

Regulatory Compliance and Next Steps

The Committee of Independent Directors is mandated to evaluate the Open Offer and publish its recommendation in accordance with the applicable provisions of SEBI (SAST) Regulations, 2011. The formation of this committee represents a key procedural step in the regulatory framework governing substantial acquisitions and takeovers in India. The company has informed BSE Limited of this development and requested that the exchange take the same on record.

Glittek Granites has informed the stock exchange of a forthcoming Board of Directors meeting, scheduled in compliance with Regulation 29 of the Listing Regulations. The meeting is set to take place on Thursday, May 21, 2026, at 11:00 A.M., with the primary agenda being the consideration, recording, and approval of the company's audited financial results for the quarter and year ended March 31, 2026. The intimation was formally communicated to the Corporate Relation Department of The Stock Exchange, Mumbai, on May 12, 2026.

Board Meeting Details

The following key details have been disclosed regarding the upcoming board meeting:

Parameter: Details Meeting Date: Thursday, May 21, 2026 Meeting Time: 11:00 A.M. Regulatory Basis: Regulation 29 of the Listing Regulations Agenda: Approval of Audited Financial Results Period Under Review: Quarter and Year ended March 31, 2026 Intimation Date: May 12, 2026 Signatory: Lata Bagri, Company Secretary

Purpose of the Meeting

The board meeting has been convened specifically to consider and approve the audited financial results of the company for both the fourth quarter and the full financial year ended March 31, 2026. The notice was issued under Regulation 29 of the Listing Regulations, which mandates listed companies to provide advance intimation to stock exchanges prior to board meetings where financial results are to be considered. The communication was addressed to the Corporate Relation Department at The Stock Exchange, Mumbai.

Company Information

Glittek Granites is registered under CIN: L14102KA1990PLC023497. 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, India – 562114. The corporate office is situated at "Krishna", 7th Floor, 224, A.J.C. Bose Road, Kolkata – 700 017.

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