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

Nandini Modi and Kirit Modi, along with their associates, have launched an Open Offer to purchase up to 48.75 lakh equity shares of The South India Paper Mills Limited, representing 26% of voting capital. The offer price is ₹120 per share, totaling ₹58.50 Cr. This initiative follows their agreement to acquire an additional 20.21% stake from current sellers for ₹45.48 Cr. Upon completion of the Open Offer and prior acquisition, the acquirers and their associates will hold 39.39% ownership, gaining control of the company. Their aim is to enhance operational efficiency and drive long-term value for shareholders.