Systematix Corporate Services Limited ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ("IDC") on the Open Offer to the ....
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The Independent Directors' Committee (IDC) of Kandagiri Spinning Mills has issued its recommendations on the open offer made by Akshayam Creations LLP (acquirer) along with four persons acting in concert. The offer is to acquire up to 10,00,805 equity shares (26% of total voting share capital) at Rs. 25 per share, under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The IDC held its meeting on April 29, 2025, and the recommendations were published in five newspapers on April 30, 2025, including Financial Express, Jansatta, and regional Tamil and Marathi dailies. Systematix Corporate Services is acting as the manager to the offer.
This is a routine regulatory disclosure required during an open offer process. Shareholders should review the IDC's recommendations to assess whether the offer price of Rs. 25 per share is fair, before deciding to tender their shares in the open offer window.