Navigant Corporate Advisors Submit Draft Letter of Offer for Soma Papers & Industries Share Acquisition

Navigant Corporate Advisors Limited, on behalf of the acquirers Shankar Varadharajan, Anancha Perumal Selvi Keshav, Rohan Ramaswamy, Subramanyam Venkatesh, and Seethapathi Vignesh, has submitted a Draft Letter of Offer to the Bombay Stock Exchange (BSE) for the acquisition of up to 26.00% of the expanded equity and voting share capital of Soma Papers & Industries Limited. The offer is not conditional upon any minimum level of acceptance and does not require any statutory approvals except as detailed in the Draft Letter of Offer. The offer is not a competing offer and there has been no competing offer or revision of Offer Price as of the date of the Draft Letter of Offer. Shareholders who have tendered shares in acceptance of the Open Offer shall not be entitled to withdraw such acceptance during the tendering period.