Systematix Corporate Services Limited ("Manager to the Offer") has submitted to BSE a copy of Pre-Offer Public advertisement in accordance with Regulation 18(7) of SEBI (Substantial Acquisition ....
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Systematix Corporate Services Limited, acting as Manager to the Offer, has submitted a Pre-Offer Public Announcement for an Open Offer to acquire up to 10,00,805 equity shares (26% of voting share capital) of Kandagiri Spinning Mills Limited. The offer is being made by Akshayam Creations LLP (the Acquirer) along with four Persons Acting in Concert (PACs) — Sigamani Sivakumar, Manoj Kumar Maurya, Adinarayana Sripathy Kumar, and Balasubramanian Prabhakaran — at a price of Rs. 25 per equity share under SEBI (SAST) Regulations, 2011. The Pre-Offer PA was published in all newspapers on May 6, 2025, following receipt of SEBI's observation letter. The announcement has been submitted to BSE, SEBI, and the target company.
Existing shareholders of Kandagiri Spinning Mills can tender their shares at Rs. 25 per share if they wish to exit. The offer represents a significant acquisition (26% stake), which could indicate a potential change in control or promoter restructuring, making it relevant for shareholders evaluating hold versus sell decisions.