Kandagiri Spinning Mills Ltd. Approves Sale of Shares in Associate Company SPMM Health Care Services Private Limited

Kandagiri Spinning Mills Ltd. has announced the approval of the sale of its entire shares in the associate company SPMM Health Care Services Private Limited. The sale includes 20,00,000 equity shares. The sale price is fixed at Rs 11.44 per share, making the total sale consideration Rs 2,28,80,000. The buyers include Mr. S. Devarajan, Mr. S. Jegarajan, and Mr. S. Dinakaran, all from Salem. The transaction is not a related party transaction and is expected to be completed before 31.03.2026. The associate company contributed Rs 8.63 lakhs to the profit and had a net worth of Rs 216.44 lakhs as of the last financial year.