The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for M Vanaja
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M. Vanaja, legal heir of deceased erstwhile promoter M. Rajamani, has transferred 54,670 equity shares (1.42% of total share capital) of Kandagiri Spinning Mills to Akshayam Creations LLP at Rs 16 per share via off-market transfer on 21.11.2025. This transfer is part of a Share Purchase Agreement between Akshayam Creations LLP and the selling erstwhile promoter shareholders. The disclosure notes the transfer is below the 2% threshold, making SEBI SAST disclosure non-mandatory, but is being filed voluntarily. Total equity share capital of the company stands at 38,49,250 shares. After this sale, M. Vanaja holds zero shares in the company.
This is part of a broader exit by the erstwhile promoter group, with the acquirer Akshayam Creations LLP taking over their stake. While this single 1.42% transfer is below SAST thresholds, it signals an ongoing change in ownership and may mark a transition in control of the company. Shareholders should watch for further disclosures from the acquirer as cumulative holdings approach regulatory thresholds.