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

Nandini Modi and Kirit Modi, along with associated entities, have announced an Open Offer to acquire up to 48.75 lakh shares, representing 26% of The South India Paper Mills Limited. The offer price is ₹120 per share, totaling ₹58.50 crore. This follows their agreement to purchase 37.90 lakh shares (20.21%) at the same price, leading to a change in company control. Post-offer, their combined stake could reach 65.39%. The new management intends to position the company for enhanced operational efficiency and long-term value. Public shareholders can tender their shares; if oversubscribed, acceptance will be proportionate.