Classic Filaments Reports Q3 FY26 Loss of ₹1.43 Lakhs

Classic Filaments Limited reported a net loss of ₹1.43 lakhs for Q3 FY26 ended December 31, 2025, with zero revenue from operations and total expenses of ₹1.43 lakhs.

Classic Filaments Promoters Sell 68.51% Stake in Off-Market Transaction

Four promoters of Classic Filaments Limited disposed of 41,88,549 equity shares representing 68.51% of the company's total paid-up equity and voting share capital through an off-market sale pursuant to a Share Purchase Agreement dated October 24, 2025. The disposal was completed on December 09, 2025, with Bharat Anandkumar Patel leading the transaction on behalf of all selling promoters, resulting in the promoters reducing their collective holding to zero.

Classic Filaments Reports Quarterly Loss and Faces Income Tax Assessment Notice

Classic Filaments Limited announced quarterly results showing a net loss of ₹7.71 lakhs for the quarter ended September 30, 2025, compared to a loss of ₹10.96 lakhs in the previous year. The company reported no revenue from operations during the quarter. The auditors highlighted an ongoing income tax assessment under Section 263 of the Income Tax Act for FY 2018-19 regarding alleged bogus purchases. Management maintains that the purchases are valid and expects no material impact on current financial results. The company's cash and cash equivalents decreased to ₹3.71 lakhs from ₹70.90 lakhs at the beginning of the year. Net cash flow from operating activities was negative ₹8.96 lakhs.

Four Acquirers Launch Open Offer for 26% Stake in Classic Filaments Limited at Rs 12 Per Share

Mr. Sumit Bansal, Mr. Vikkas Bansal, Mr. Tarun Jain, and Mr. Varun Jindal have announced an open offer to acquire up to 15,89,471 equity shares (26%) of Classic Filaments Limited at Rs 12 per share, totaling Rs 1,90,73,652. The offer follows their Share Purchase Agreement to acquire 41,88,549 shares (68.51%) from existing promoters at Rs 10 per share. The acquirers have deposited Rs 1,96,00,000 in an escrow account and plan to gain management control of the textile trading company. The tendering period runs from December 17, 2025 to December 31, 2025. Classic Filaments, incorporated in 1990 and listed on BSE, has been non-operational for the last 3 years. The offer price is justified based on valuation parameters including a fair value assessment of Rs 11.96 per share by a registered valuer.

Classic Filaments Limited Receives Detailed Public Statement for Open Offer by Four Acquirers

Classic Filaments Limited received a Detailed Public Statement for an open offer from four acquirers: Sumit Bansal, Vikkas Bansal, Tarun Jain, and Varun Jindal. The acquirers entered into a Share Purchase Agreement on October 24, 2025, with outgoing promoters to acquire 41,88,549 equity shares representing 68.51% of the company's total paid-up equity and voting share capital. This acquisition triggers a mandatory open offer for up to 15,89,471 equity shares representing 26% of the total paid-up equity share capital at Rs. 10 per share. VC Corporate Advisors Private Limited serves as the manager for the open offer. The Detailed Public Statement was published in multiple newspapers including The Financial Express, Jansatta, Pratahkal, and Ahmedabad Express on October 31, 2025.