The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kalavathi S
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Kandagiri Spinning Mills disclosed a Regulation 29(2) SAST filing where Kalavathi S, the legal heir of deceased erstwhile promoter M. Rajamani, sold 53,059 equity shares (1.38% of paid-up capital) to Akshayam Creations LLP through an off-market transfer at Rs 16 per share on 28 November 2025. This transaction is part of a Share Purchase Agreement (SPA) executed between Akshayam Creations LLP (the Acquirer) and the erstwhile Promoter Shareholders of the company. The seller's holding in the company has reduced to zero post-transaction. Total equity share capital of the company remains 38,49,250 shares (Rs 3.84 crore).
This represents a promoter group exit transaction, with control effectively shifting to Akshayam Creations LLP via the SPA. Shareholders should monitor for further disclosures from the acquirer regarding their aggregate holding and any potential open offer triggers under SEBI Takeover Regulations.