Glittek Granites
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ICICI Bank sold its entire 8.55% stake in Glittek Granites to the promoter via a buyback, exiting the nano-cap company completely. The bank offloaded 22.2 lakh shares in multiple tranches, with the last sale on June 8, 2026. The transaction consolidates promoter control ahead of the ongoing mandatory open offer at ₹12.65 per share. ICICI Bank, which held the stake as a seller, has now reduced its holding to zero. The buyback price was not disclosed, but the market price of Glittek Granites stands at around ₹44.78, well above the offer price. This move signals promoter confidence and may alter the dynamics of the change-of-control process.
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ICICI Bank sold its entire 8.55% stake in Glittek Granites to the promoter via a buyback, exiting the nano-cap company completely. The bank offloaded 22.2 lakh shares in multiple tranches, with the last sale on June 8, 2026. The transaction consolidates promoter control ahead of the ongoing mandatory open offer at ₹12.65 per share. ICICI Bank, which held the stake as a seller, has now reduced its holding to zero. The buyback price was not disclosed, but the market price of Glittek Granites stands at around ₹44.78, well above the offer price. This move signals promoter confidence and may alter the dynamics of the change-of-control process.
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March 7 (Reuters) - Glittek Granites Ltd GLIT.BO:
LAND SOLD FOR 390 MILLION RUPEES
Further company coverage: GLIT.BO
(([email protected];;))
March 7 (Reuters) - Glittek Granites Ltd GLIT.BO:
LAND SOLD FOR 390 MILLION RUPEES
Further company coverage: GLIT.BO
(([email protected];;))
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What does Glittek Granites do?
Glittek Granites Limited is a leading granite manufacturing company in India, specializing in the production, trade, and export of finished granite slabs and tiles. They offer a wide range of colors, finishes, and textures for various applications.
Who are the competitors of Glittek Granites?
Glittek Granites major competitors are Regency Ceramics, Pacific Industries, Marvel Decor, Durlax Top Surface, Restile Ceramics, Esprit Stones, Ravileela Granites. Market Cap of Glittek Granites is ₹105 Crs. While the median market cap of its peers are ₹108 Crs.
Is Glittek Granites financially stable compared to its competitors?
Glittek Granites seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Glittek Granites pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Glittek Granites latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Glittek Granites allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Glittek Granites balance sheet?
Balance sheet of Glittek Granites is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Glittek Granites improving?
The profit is oscillating. The profit of Glittek Granites is ₹6.86 Crs for Mar 2025, -₹6.14 Crs for Mar 2024 and -₹0.78 Crs for Mar 2023
Is the debt of Glittek Granites increasing or decreasing?
Yes, The net debt of Glittek Granites is increasing. Latest net debt of Glittek Granites is -₹6.59 Crs as of Mar-26. This is greater than Mar-25 when it was -₹19.4 Crs.
Is Glittek Granites stock expensive?
Glittek Granites is not expensive. Latest PE of Glittek Granites is 0, while 3 year average PE is 0.68. Also latest EV/EBITDA of Glittek Granites is 0.0 while 3yr average is 21.89.
Has the share price of Glittek Granites grown faster than its competition?
Glittek Granites has given better returns compared to its competitors. Glittek Granites has grown at ~594.21% over the last 1yrs while peers have grown at a median rate of 7.31%
Is the promoter bullish about Glittek Granites?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Glittek Granites is 62.99% and last quarter promoter holding is 62.99%.
Are mutual funds buying/selling Glittek Granites?
There is Insufficient data to gauge this.