Navigant Corporate Advisors Limited ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement to the Equity Shareholders of Soma Papers & Industries Ltd ("Target Company").
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Navigant Corporate Advisors, the manager to the offer, has submitted a Post Offer Advertisement to BSE in connection with an open offer to acquire up to 4,26,58,200 equity shares (26% of expanded capital) of Soma Papers & Industries Ltd at Rs. 10 per share. The offer was made by Mr. Shankar Varadharajan and Mr. Anancha Perumal Selvi Keshav (Acquirers) along with three PACs. The open offer window ran from 28 November 2025 to 11 December 2025, with consideration paid on 17 December 2025. Despite the offer size of Rs. 4,265.82 lakhs being proposed, only 25 shares were actually tendered, making the open offer almost entirely unsuccessful. The Acquirers instead secured control through a prior preferential allotment of 10,00,00,000 shares (60.95% of fully diluted capital), and will now become the new promoters of Soma Papers, while the existing promoters get reclassified as public shareholders.
The open offer was a near-total flop with just 25 shares tendered, so shareholders hoping to exit at Rs. 10 via the tender route largely missed the opportunity. Control has effectively transferred to the new Acquirer group via preferential allotment, which may limit float and liquidity for existing retail shareholders of Soma Papers going forward.