SOUTH INDIA PAPER MILLS : OPEN OFFER WORTH OVER RS 58 CR FOR 26% STAKE

• Acquirers Nandini Modi and Kirit Modi, with PACs, to buy up to 48,75,000 equity shares representing 26.00% of voting capital • Offer price is ₹120 per share in cash; no revision in the offer price • Committee of independent directors unanimously recommended the offer price as fair and reasonable on October 15, 2026 • Tendering period runs from October 22, 2026 to November 4, 2026 • BSE closing price was ₹116.50 per share on October 12, 2026, versus the offer price of ₹120 • Risk: J K Paper alleged breach of non-compete obligations and may seek legal action, which could delay or prevent the transaction

South India Paper Mills Ltd

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