South India Paper Mills: Open Offer for 26% stake at ₹120/share

South India Paper Mills Ltd has received a Letter of Offer dated October 13, 2026, regarding an open offer from Acquirers Mrs. Nandini Modi and Mr. Kirit Modi, along with Persons Acting in Concert (PACs). The Acquirers are making an open offer to the public shareholders to acquire up to 48,75,000 fully paid-up equity shares, each with a face value of ₹10. This represents 26% of the company's total equity and voting share capital on a fully diluted basis. The offer price is ₹120 per equity share in cash. Indcap Advisors Private Limited has been appointed as the Manager to the Open Offer, which is being made in compliance with SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.