Disclosure of details of share transfers as per terms of Share Purchase Agreement (SPA) executed between erstwhile promoter - selling shareholders and Acquirer ("Akshayam Creations LLP"- ....
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Kandagiri Spinning Mills has informed BSE that Akshayam Creations LLP has completed all share acquisitions under the Share Purchase Agreement (SPA) signed on 03.02.2025 with erstwhile promoters. As part of the final tranche, 53,059 equity shares (1.38%) were transferred from Kalavathi S (legal heir of deceased selling shareholder M. Rajamani) to the Acquirer at Rs 16 per share via off-market transfer on 28.11.2025. In total, the Acquirer has accumulated 24,99,509 shares (64.93%) from erstwhile promoters across multiple tranches, plus 1,000 additional shares from public shareholders through the Open Offer, taking its total holding to 25,00,509 shares (64.96%) in the company.
This marks the formal completion of a change in control at Kandagiri Spinning Mills, with Akshayam Creations LLP firmly established as the new promoter holding nearly 65% stake. The transaction price of Rs 16 per share under the SPA and the completed open offer are now fully concluded, settling any lingering uncertainty around promoter transition. Retail shareholders may see the new promoter entity drive future strategic decisions, including possible changes in board composition and business direction.