South India Paper Mills Ltd
Intimation regarding receipt of Draft letter of Offer from merchant bankers with respect to open offer.
M&A
● No Immediate Change
MEDIUM RISK
📅 Filed on BSE: 02 Sep 2026, 06:31 PM IST · BSE ID: b3f6116a-6e3a-4617-9c70-6a4354d70edb
View Original BSE Filing (PDF)
💡
In Simple Terms
The company has received the formal document for an open offer to buy 26% of its shares at ₹120 each.
🤖 AI Summary
- South India Paper Mills Ltd received a Draft Letter of Offer for an open offer to public shareholders.
- Nandini Modi and Kirit Modi, along with PACs, are the acquirers in this open offer.
- The open offer seeks to acquire up to 48,75,000 fully paid-up equity shares of the Target Company.
- This represents 26.00% of the total equity and voting share capital of South India Paper Mills.
- The cash offer price is ₹120 per Equity Share, managed by Indcap Advisors Private Limited.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Open Offer Shares
48,75,000 equity shares
Percentage of Voting Share Capital
26.00%
Offer Price per Share
₹120
🏢 How This Affects the Company
The open offer introduces a period of regulatory review and potential change in ownership structure for the company. The outcome could impact future strategic direction and capital allocation.
👥 What This Means For Shareholders
✅
Action Required
Public shareholders of South India Paper Mills Limited will need to review the Draft Letter of Offer (DLoF) and decide whether to tender their shares once the offer formally opens.
👤
Who Is Affected
Public shareholders are affected, as the Acquirers and PACs are offering to acquire up to 48,75,000 equity shares, representing 26.00% of the total equity and voting share capital, at an offer price of ₹120 per Equity Share.
🔍
Management Signal
The receipt of the DLoF indicates the open offer process is progressing as per regulatory timelines and requirements.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
SEBI approval of the Draft Letter of Offer.
Announcement of the final Letter of Offer and open offer schedule.
Disclosure of the final shareholding pattern post open offer completion.
MEDIUM RISK
The open offer process involves regulatory approvals and a potential shift in ownership structure, carrying execution and integration risks.
💡 Investor Takeaway
South India Paper Mills Ltd has received the Draft Letter of Offer for an open offer by Nandini Modi and Kirit Modi, along with PACs, to acquire 26.00% of the voting share capital at ₹120 per Equity Share. This is a procedural step in the open offer process.
📅 Company Track Record
Past filings on September 02, 2026, confirmed that Indcap Advisors Pvt. Ltd. had submitted a copy regarding an open offer for 26.00% of South India Paper Mills at ₹120 per share.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the purpose of the Draft Letter of Offer received by South India Paper Mills Ltd?
The Draft Letter of Offer pertains to an open offer by Nandini Modi and Kirit Modi, along with PACs, to acquire up to 48,75,000 equity shares from the public shareholders of South India Paper Mills Limited.
What percentage of South India Paper Mills' share capital is targeted in this open offer?
The open offer aims to acquire up to 26.00% of the total equity and voting share capital of The South India Paper Mills Limited.
What is the offer price for each equity share in the open offer for South India Paper Mills?
The offer price for each fully paid-up equity share in the open offer is ₹120.
Who are the acquirers making the open offer for South India Paper Mills shares?
The Acquirers making the open offer are Nandini Modi and Kirit Modi, along with Sachin Kirit Modi, Swapnil Kirit Modi, Riddhi Sachin Modi, Bhuvi Swapnil Modi, Rihaan Sachin Modi, Rigid Containers Pvt Ltd, and Fortune Packaging LLP as Persons Acting in Concert (PACs).
Questions based on this BSE filing only. For information purposes.