Siyaram Silk Mills Ltd

Rating action

• CRISIL reaffirmed long-term AA-/Stable and short-term A1+ ratings for Siyaram Silk Mills Ltd.

Instruments rated

• Total bank loan facilities rated: Rs 350.69 crore; LT AA-/Stable, ST A1+

Outlook

• Long-term outlook: Stable.

Surveillance & validity

• Ratings under continuous surveillance and valid till March 31, 2027.

Material changes since last rating

• No material change; reaffirmation maintains existing ratings.

Bank summary

• Bank-wise facility mix includes Union Bank of India, Bank of Baroda, and Standard Chartered Bank.

Rating action & instrument

• CRISIL assigned AA-/Stable to Siyaram Silk NCPS totaling Rs 318 crore.

Instrument details

• Instrument: 9% cumulative non-convertible redeemable preference shares
• Amount: Rs 318 crore
• Rating: AA-/Stable; Outlook: Stable

Rating Agency

• Agency: Crisil Ratings Limited

Rationale

• High degree of safety for timely payment of obligations
• Very low credit risk for the instrument
• Issue size: Rs 318 crore NCPS
• Rating under surveillance for the life of the instrument

Outlook

• Stable

Material change

• New rating assigned; no prior Crisil rating disclosed for NCPS

Financial highlights

• No revenue or profitability metrics disclosed

Transaction details

• Inter-se transfer of 582,900 equity shares via block deal among promoter entities.
• Exemption: Regulation 10(1)(a)(ii) from open offer.
• Acquirer: DPP Enterprises LLP; Transferor: promoter group entity.
• Shares transferred: 582,900; 1.28% of total share capital.
• Method: Block Deal (inter-se transfer among promoter entities).
• Consideration paid at market price on acquisition date.
• Acquirer pre: 6,45,408 shares; 1.42%; post: 12,28,308 shares; 2.70%.
• Transferor pre: 5,82,951 shares; 1.28%; post: 51 shares; 0%.
• Public shareholding: not disclosed / not affected.
• Change in control: not disclosed.

Key disclosures

• Target Company: Siyaram Silk Mills Limited.
• Acquirer: DPP Enterprises LLP (Promoter Group).
• Seller: Shri Harshit Shrikishan Poddar (Promoter Group).
• Transaction Type: Inter-se transfer among Promoter Group via Block Deal.
• Pre-Transaction Holding — DPP: 6,45,408 shares (1.42%).
• Pre-Transaction Holding — Poddar: 5,82,951 shares (1.28%).
• Transferred: 5,82,900 Equity Shares.
• Post-Transaction Holding — DPP: 12,28,308 shares (2.70%).
• Post-Transaction Holding — Poddar: 51 shares (0%).
• Date of Transaction: 17 August 2026.
• Mode: Block Deal; price at market price.
• Exemption: Regulation 10(1)(a)(ii) applied.

Transaction details

• Target Company: Siyaram Silk Mills Limited.
• Disclosing Party: Harshit S. Poddar (Promoter).
• Transaction Type: Disposal of equity shares via inter-se block deal.
• Pre-Transaction Holding: 582,951 shares (1.28%).
• Transaction Details: Sold 582,900 shares (1.28%), via inter-se transfer (block deal) on 17 Aug 2026.
• Post-Transaction Holding: 51 shares (0.00%).
• Date(s) of Transaction: 17 August 2026.
• Share Capital Context: Before and after: 4,53,70,088 equity shares; diluted: 4,53,70,088.

Transaction and holdings

• Inter-se transfer by gift among promoter group of Siyaram Silk Mills Ltd.
• Exemption: Regulation 10(1)(a)(ii) applied.
• Acquirer group comprises promoter group members; transferor is promoter group.
• Total shares transferred: 20,98,099 equity shares (4.62%).
• Method: off-market transfer by gift, no consideration.
• Pre-transaction acquirer holdings: 5.19%, 4.34%, 4.99%, 4.34%, 4.99%.
• Post-transaction acquirer holdings: 6.73%, 5.11%, 5.76%, 5.11%, 5.76%.
• Pre-transferor holding: 4.62%; post: 0%.

Governance impact

• Promoter group ownership composition updated; transferor exits with 0%.
• No explicit change in overall control stated.

Acquisition details

• Target: Siyaram Silk Mills Limited.
• Disclosing Party: Anurag P. Poddar (Promoter).
• Transaction Type: Acquisition of equity shares.
• Pre-Transaction Holding: 1,968,487 shares (4.34%).
• Transaction Details: 349,683 shares (0.77%), Off Market Inter-se Gift on 14 Aug 2026.
• Post-Transaction Holding: 2,318,170 shares (5.11%).
• Capital context: Before/After Rs 9,07,40,176 with 4,53,70,088 shares.

Acquisition under Reg. 29(2) – Siyaram Silk Mills

• Acquirer: Ankit P. Poddar (Promoter).
• Pre-transaction holding: 2,262,396 shares (4.99%).
• Transaction type: Acquisition of 349,683 shares (0.77%).
• Mode: Off-market inter-se transfer by gift.
• Date of transfer: 14 August 2026.
• Post-transaction holding: 2,612,079 shares (5.76%).
• Equity capital before/after: 4,53,70,088 shares (Rs 2), Rs 9,07,40,176.
• Total diluted capital: Rs 9,07,40,176.

Disclosure details

• Target Company: Siyaram Silk Mills Limited.
• Disclosing Party: Avnish P. Poddar, Promoter of Siyaram Silk Mills Ltd.
• Transaction Type: Acquisition of 349,683 equity shares via off-market inter-se gift.
• Pre-Transaction Holding: 1,968,487 shares (4.34% VR).
• Post-Transaction Holding: 2,318,170 shares (5.11% VR).
• Transaction Details: 349,683 shares acquired; off-market gift on 14 August 2026.
• Date of Transaction: 14 August 2026.
• Share Capital Context: Pre: Rs 9,07,40,176; 4,53,70,088 shares of Rs 2 each. Post: same.

Transaction summary

• Target: Siyaram Silk Mills Limited; Acquirer: Gaurav P. Poddar (Promoter).
• Pre-transaction holding: 2,262,397 shares (4.99%).
• Acquired: 349,683 voting shares (0.77%) via Off Market inter-se gift.
• Post-transaction holding: 2,612,080 shares (5.76%).
• Date of transaction: 14 August 2026.
• Share capital before/after: Rs 9,07,40,176; 4,53,70,088 equity shares.
• Mode: Off Market - Inter se Transfer (Gift).
• Acquirer is promoter of the company.