Ramasamy Udayar Jagadeesa made an offer to acquire 25.03% stake in Thambbi Modern Spinning Mills Limited on July 14, 2023. The transaction is subject to due diligence, de-listing of company stock and approval from shareholders of Thambbi. As of December 9, 2023 Ramasamy Udayar Jagadeesa vide his letter dated December 06, 2023, had requested SEBI to extend the Bidding period.

Closing date has now been revised from December 08, 2023 to December 13, 2023. SAFFRON CAPITAL ADVTSORS PRIVATE LIMITED acted as manager to the offer on behalf of acquirer. CAMEO CORPORATE SERVICES LIMITED acted as registrar to the offeror.