South India Paper Mills: Open Offer for 26% Stake at ₹120/Share

Nandini Modi and Kirit Modi, along with associated entities (PACs), have announced an Open Offer to acquire up to 48,75,000 equity shares of The South India Paper Mills Limited, representing 26% of the total equity and voting share capital. The offer price is ₹120 per equity share, payable in cash, for a total maximum offer consideration of ₹58,50,00,000 (₹58.50 Crore). This Open Offer is being made in compliance with SEBI (SAST) Regulations, 2011. Indcap Advisors Pvt. Ltd. is acting as the Manager to the Offer. The Committee of Independent Directors has submitted its recommendations on the fairness and reasonableness of the offer.