Outcome of Meeting of Committee of Independent Directors for Open offer.
Price
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The Committee of Independent Directors of Soma Papers and Industries Limited (BSE: 516038) reviewed an open offer and concluded it is fair and reasonable. The offer is by Mr. Shankar Varadharajan and Mr. Anancha Perumal Selvi Keshav, along with three Persons Acting in Concert, to acquire up to 4,26,58,200 equity shares at Rs. 10 per share, representing 26% of the expanded equity share capital. The review was based on the Public Announcement dated August 7, 2025, Detailed Public Statement dated August 13, 2025, and Letter of Offer dated November 15, 2025. The meeting was held on November 25, 2025, and was chaired by Mounika Pammi Reddy. This is a mandatory regulatory step under SEBI takeover regulations before the open offer opens for shareholders.
The Independent Directors have endorsed the Rs. 10 per share offer price as fair, which gives shareholders a reference point for evaluating the open offer. Shareholders should compare the offer price with prevailing market price and make their own decision during the tendering window.