IDC recommends fair and reasonable open offer at Rs 120 per share

Open offer triggeredListed-company acquisitionStrategic Transactions View source PDF Explain this filing

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.4%Reaction day

₹117.55

prior close

₹119.50

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.7%-0.3% vs market

Paper & Paper Products peers, median of 34sector+0.2%+0.3% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.3 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+0.4+0.7-0.3+0.2+0.3

Next day

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UpDownMarket · Nifty Microcap 250Sector · Paper & Paper Products peers, median of 34Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The Committee of Independent Directors of South India Paper Mills has recommended the open offer by Nandini Modi and Kirit Modi (acquirers) along with PACs as fair and reasonable. The offer is to acquire up to 48,75,000 shares (26 percent of voting capital) at Rs 120 per share, totaling about Rs 58.5 crore, triggered by a Share Purchase Agreement dated 18 August 2026. Offer price is above the BSE closing price of Rs 117.55 on 15 October 2026. Shareholders may independently evaluate before deciding to tender.

Likely market impact

Public shareholders can tender at Rs 120 per share, above current market price of Rs 117.55. IDC views offer as fair and reasonable.