South India Paper Mills Ltd — Important, 01-01-1970: Company Update

Nandini Modi and Kirit Modi, along with Persons Acting in Concert (PACs), have announced an Open Offer to acquire up to 48.75 lakh equity shares, representing 26% of The South India Paper Mills Limited's voting capital, from public shareholders. The offer price is ₹120 per share, totaling ₹58.50 Cr if fully accepted. This offer is triggered by their prior agreement to purchase 37.90 lakh shares (20.21%) for ₹45.48 Cr from existing shareholders. Upon completion, the acquirers and PACs will gain control and join the promoter group, significantly changing the company's ownership and management.