The Exchange has received the disclosure under Regulation 18(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shankar Varadharajan & Others
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Awaiting price reaction for this filing.
Five acquirers/persons acting in concert (PACs) — Shankar Varadharajan, Anancha Perumal Selvi Keshav, Rohan Ramaswamy, Subramanyam Venkatesh, and Seethapathi Vignesh — have together acquired 10,00,00,000 shares (60.95%) of Soma Papers and Industries Limited through a preferential allotment on 06.10.2025 at Rs. 10 per share. None of them held any shares before the allotment. Shankar Varadharajan and Anancha Perumal Selvi Keshav each picked up 25.36%, while Rohan Ramaswamy and Subramanyam Venkatesh each got 4.51% (warrants) and Seethapathi Vignesh got 1.20% (warrants). The filing is a mandatory disclosure under SEBI's Takeover Regulations following this preferential allotment, which effectively results in a change of control of the target company.
This is effectively a change of control — the new acquirers group now holds over 60% of Soma Papers, making them the new promoters. Existing shareholders should expect a shift in board composition, management direction, and future strategy. The low issue price of Rs. 10/share in a preferential deal typically warrants a close look at whether the company's valuation is being set favourably for incoming promoters.