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Tulive Developers Limited — Delisting Announcement 2026
Apr 21, 2026
63768_rns_2026-04-21_a4f9d9c9-f5fb-4dd7-9d93-16c3a8fd8fc4.pdf
Delisting Announcement
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Date: April 21, 2026
To Listing Department BSE Limited Phiroz Jeejeebhoy Towers, Dalal Street Mumbai – 400001
Scrip Code: 505285
Dear Sir/Madam,
Sub: Outcome of Reverse Book Building Process under Regulation 17(3) of the SEBI (Delisting of Equity Shares) Regulations, 2021.
- “ ” Ref: Voluntary Delisting of Equity Shares of face value of Rs. 10/ each ( Equity Shares ) of Tulive Developers Limited (“Target Company”) from BSE Limited in accordance with the provisions of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulation, 2021, as amended from time to time (“SEBI Delisting Regulation”) (“Delisting Offer”)
Dear Sir/Madam,
In accordance with Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, we are attaching herewith a copy communication dated April 21, 2026, received from Saffron Capital Advisors Private Limited, Manager to the Delisting Offer, on the above subject, which is self-explanatory.
The same will also be available on the website of the Company at www.tulivedevelopers.com.
We request you to kindly take the above submission on record.
Thanking you, Yours Faithfully, For Tulive Developers Limited
ATUL Digitally signed by ATUL GUPTA GUPTA Date: 2026.04.21 19:42:05 +05'30'
Name: Atul Gupta Designation: Director DIN: 01608328 Encl: a/a
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Saffron Capital Advisors Private Limited 605, Sixth Floor, Centre Point, Andheri Kurla Road J.B. Nagar, Andheri (East), Mumbai - 400059 Tel.: +91-22-49730394 Email: [email protected] Website: www.saffronadvisor.com CIN No.: U67120MH2007PTC166711
April 21, 2026
To,
Tulive Developers Limited
21/22, Loha Bhavan P. D. Mello Road, 400009, Mumbai, Maharashtra, India Scrip Code: 505285
Dear Sir/Madam,
Sub: Outcome of Reverse Book Building Process under Regulation 17(3) of the SEBI (Delisting of Equity Shares) Regulations, 2021.
Ref: Voluntary Delisting of Equity Shares of face value of Rs. 10/- each (“Equity Shares”) of Tulive Developers Limited (“Target Company”) from BSE Limited in accordance with the provisions of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulation, 2021, as amended from time to time (“SEBI Delisting Regulation”) (“Delisting Offer”)
The Delisting Offer opened on Wednesday, April 15, 2026, and closed today i.e., Tuesday, April 21, 2026 , at the end of market hours on BSE Limited (“BSE” ). Cameo Corporate Services Limited (“Registrar to the Delisting Offer” ) and Saffron Capital Advisors Private Limited ( “Manager to the Delisting Offer” ) have analyzed the bids data received from BSE and in consultation with the Acquirers and Registrar to the Delisting Offer, the outcome of the Reverse Book Building Process (“RBBP”) is hereby disclosed and announced in terms of Regulation 17 (3) of the SEBI Delisting Regulations.
| Scrip Name | Tulive Developers Limited | Tulive Developers Limited |
|---|---|---|
| Symbol | ScripCode: 505285 | |
| lssue Period | Wednesday,April 15,2026 to Tuesday,April 21,2026 | |
| Floor Price(Rs.) | Rs. 719.30/- Per EquityShare | |
| Indicative Price(Rs.) | Rs. 750/- Per EquityShare | |
| Delisting Offer size | 6,01,135 EquityShares | |
| Discovered Price (Rs.) | Rs. 750/- Per Equity Share | |
| Number of equity shares and bids | Total 4,79,058 Equity Shares with 19 successful bids received between price range from Rs. 719.30/- Per Equity Share to Rs. 900/-Per Equity Share |
|
| Number of equity shares and bids above the discovered price |
No. of Equity Shares: 171 No. of Bids: 2 |
|
| Whether delisting offer is successful in terms of Regulation 21 of SEBI (Delisting of equity shares) Regulations 2021 |
Total issued equity shares | 21,54,375 |
| Shares held by custodian(s) against which depository receipts have been issued overseas |
Nil | |
| Shares transferred to the Investor Education and Protection Fund’s account in terms of Regulation 21(a) of SEBI DelistingRegulations |
Nil | |
| Shares held by trust set up for implementing an Employee Benefit scheme under the Securities and Exchange Board of India (ShareBasedEmployee |
Nil |
SEBI Registration No: INM000011211
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Saffron Capital Advisors Private Limited 605, Sixth Floor, Centre Point, Andheri Kurla Road J.B. Nagar, Andheri (East), Mumbai - 400059 Tel.: +91-22-49730394 Email: [email protected] Website: www.saffronadvisor.com CIN No.: U67120MH2007PTC166711
| Benefits) Regulations, 2014 or Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 |
Benefits) Regulations, 2014 or Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 |
Benefits) Regulations, 2014 or Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 |
|||
|---|---|---|---|---|---|
| Shares held by inactive shareholders such as vanishing companies and struck off companies in terms of Regulation 21(a) of SEBI DelistingRegulations |
Nil | ||||
| Shares held in terms of sub-regulation (4) of regulation 39 read with Schedule VI of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. |
Nil | ||||
| Remaining shares | 21,54,375 | ||||
| Minimum number of shareholding to be achieved i.e., 90% of the Remaining shares as per Regulation 21 of SEBI Delisting Regulations. |
19,38,938 | ||||
| Particulars | No. of Equity Shares |
% of total issued equity shares |
% of remainin g shares$ |
||
| Pre- Delisting Offer Promoter and Members of Promoter Group Shareholding |
15,53,240 | 72.10% | 72.10% | ||
| No. of Equity Shares successfully Bid at or below Discovered Price |
4,78,887 | 22.22% | 22.22% | ||
| Post Delisting Offer Promoter and Members of Promoter Group Shareholding (Also refer to the outcome below) |
20,32,127 | 94.32% | 94.32% | ||
| $Since no shares are required to be excluded in terms of Regulation 21(a) of the SEBI Delisting Regulations, the remaining shares shall be equivalent to the total issued capital. No equity shares held in physical form have been tendered in the delisting offer. As the post Delisting Offer shareholding of the Acquirers, along with the other promoter and promoter group, has exceeded 90% (94.32%) of total number of issued Equity Shares (excluding Shares as provided under Regulation 21(a) SEBI Delisting Regulations), the Delisting Offer is successful in terms of Regulation 21 of the SEBI Delisting Regulations,Discovered Price/Exit Price of Rs. 750/- per Equity Share is accepted by the Acquirers. |
SEBI Registration No: INM000011211
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Saffron Capital Advisors Private Limited 605, Sixth Floor, Centre Point, Andheri Kurla Road J.B. Nagar, Andheri (East), Mumbai - 400059 Tel.: +91-22-49730394 Email: [email protected] Website: www.saffronadvisor.com CIN No.: U67120MH2007PTC166711
Discovered Price/Exit Price is accepted by the Acquirers , the payment will be made to all the successful bidders in accordance with Regulation 24 and other provisions of the SEBI Delisting Regulations, SEBI Circulars and the settlement calendar of Indian Clearing Corporation Limited. Lien on unaccepted / rejected shares will be released on the Equity Shares in their respective Demat accounts of the Public Shareholders in accordance with Regulation 23 of the SEBI Delisting Regulations.
In terms of Regulation 17(4) and Regulation 22(4A) of the SEBI Delisting Regulations, a post offer public announcement disclosing the success or failure of the reverse book building process and / or counter offer and acceptance or rejection of the Discovered Price will be made in the same newspapers in which the Detailed Public Announcement was made.
For Saffron Capital Advisors Private Limited
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Pooja Jain Senior Manager and Compliance Officer Equity Capital Markets
SEBI Registration No: INM000011211