Disclosure in respect of completion of sale of entire shares of Associate Company M/s SPMM Health Care Services Private Limited through Physical share transfer(s) on 26.02.206 and Cessation ....
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Kandagiri Spinning Mills has sold its entire 20,00,000 equity shares (100% stake) in associate company SPMM Health Care Services Private Limited for Rs 11.44 per share, receiving a total consideration of Rs 2.29 crore. The shares were transferred on 26.02.2026 through physical share transfer, after the board approved the sale on 12.02.2026. The buyers are three individuals from Salem — Mr. S. Devarajan (6.70 lakh shares), Mr. S. Jegarajan (6.65 lakh shares), and Mr. S. Dinakaran (6.65 lakh shares) — none of whom belong to the promoter group, and the deal is not a related-party transaction. SPMM Health Care had contributed only Rs 8.63 lakh to the company's profit in the last financial year, with attributable networth of Rs 2.16 crore, and ceases to be an associate company with effect from 26.02.2026.
This is a small, non-core divestment that brings in roughly Rs 2.29 crore in cash and has minimal impact on Kandagiri's earnings or operations. Shareholders are unlikely to see any material effect on the stock price as the associate contributed negligible profit.