SOUTH INDIA PAPER : OPEN OFFER WORTH RS 58.5 CR AT ₹120/SHARE

• Acquirers Nandini Modi and Kirit Modi with 7 PACs to acquire up to 48,75,000 shares (26% of voting capital) at ₹120/share • Includes purchase of 37,90,240 shares (20.21%) from Harshad Natvarlal Modi and Rajul Harshad Modi under SPA dated August 18, 2026, worth ~₹45.48 Cr • Maximum open offer consideration ~₹58.5 Cr; acquirers deposited ₹14.63 Cr in escrow with ICICI Bank • Post-offer acquirer and PAC holding at 1,22,60,216 shares (65.39%) assuming full acceptance; both acquirers to be classified as promoters • Offer price ₹120 versus BSE close of ₹116.50 on October 12, 2026; tendering window opens October 22, 2026 and closes November 4, 2026 • Risk: J K Paper Limited has objected alleging breach of non-compete obligations and may seek injunctive relief

South India Paper Mills Ltd

Open attachment

← Back to feed