Kedaara Capital Fund III LLP files substantial acquisition disclosure under SEBI Takeover Regulations for Spandana Sphoorty Financial

M&A / JV 24 Jun 2026 · Announced· ✓ Verified

Kedaara Capital Fund III LLP, an India-focused private equity fund managed by Kedaara Capital, has submitted a mandatory disclosure to the NSE under SEBI Takeover Regulations. The filing under Regulation 31(4) indicates a substantial acquisition event-typically triggered when an acquirer moves to or crosses the 25% threshold, or has committed to a change-of-control transaction. Spandana Sphoorty Financial is a listed microfinance institution regulated by the Reserve Bank of India. This disclosure is a prerequisite to any open offer or mandatory takeover announcement and is intended to inform the market and shareholders of a material change in ownership or control structure.

Why it mattersA Regulation 31(4) disclosure is typically filed upon crossing 25% threshold or prior to open offer announcement; this marks the formal regulatory gate for a change-of-control transaction and triggers mandatory public disclosure and potential open offer obligations.
Counsel—
SectorFinancial Services
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