Mumbai: Akshayam Creations LLP, along with four persons acting in concert (PACs)—Mr. Sigamani Sivakumar, Manoj Kumar Maurya, Adinarayana Sripathy Kumar, and Balasubramanian Prabhakaran—has announced an open offer to acquire equity shares of Kandagiri Spinning Mills Limited. This acquisition is in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and its amendments.
Offer Size and Price
The offer aims to acquire up to 10,00,805 fully paid-up equity shares, each with a face value of Rs 10, constituting 26.00% of the voting share capital of Kandagiri Spinning Mills. The offer price is set at Rs 25.00 per share, payable in cash.
Offer Period
The acquisition window will remain open from Wednesday, May 07, 2025, to Wednesday, May 21, 2025. However, trading will remain closed on May 12, 2025, in observance of a SEBI holiday.
Regulatory Framework
The offer will be conducted as per the mechanism established by SEBI for tender offers under takeovers, buybacks, and delisting. The relevant guidelines include SEBI circulars dated April 13, 2015, and December 09, 2016, as well as BSE notices from 2017 to 2021 outlining revised procedures for stock exchange-based acquisitions.
Public Disclosure and Access
Market participants can view the detailed Letter of Offer attached with the official notice and access offer details through the BSE website at www.bseindia.com.
