The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Akshayam Creations LLP & PACs
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Akshayam Creations LLP along with its Persons Acting in Concert (PACs) acquired a total of 18,220 equity shares (0.48%) of Kandagiri Spinning Mills Limited. Of these, 1,000 shares (0.03%) were bought from the public through an open offer on 26 May 2025 at Rs 25 per share, and the remaining 17,220 shares (0.45%) were acquired from selling promoter shareholders via off-market transfers on 4 July and 15 July 2025 at Rs 16 per share under a Share Purchase Agreement. The selling promoters included eight individuals from the promoter group, one of whom (Sigamani Sivakumar) is also a PAC of the acquirer and an existing promoter holding 7.48% in the company. After this acquisition, the combined holding of Akshayam Creations LLP and its PACs stands at 23,39,721 shares (60.79%) of the company, up from 60.31% earlier. The acquirer clarified that since the acquisition is below the 2% threshold, the disclosure is being made voluntarily.
This is a small consolidation move within the existing promoter group, with their overall shareholding moving marginally from 60.31% to 60.79%. There is no change in control, and the off-market deal price (Rs 16) was significantly lower than the open market price (Rs 25), suggesting an internal family restructuring rather than a market-driven event — minimal impact expected on share price.