Modi acquirers open offer at Rs 120 per share; IDC finds it fair and reasonable

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF Explain this filing

Price

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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

₹119.70

announcement price

After-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.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.2

10m

-0.5

15m

-0.5

30m

-0.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.4+0.7-0.3+0.2+0.3

Next day

-1.3-1.0-0.3-1.2-0.1

-1.4-3.6+2.1-5.2+3.7

-0.5-4.5+4.1-5.6+5.2

-2.0-6.8+4.8-7.3+5.3

-0.4-6.4+6.0-6.2+5.8

-0.8-4.7+3.9-4.5+3.7

15d

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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 Independent Directors Committee of South India Paper Mills has recommended the open offer by Nandini Modi and Kirit Modi along with PACs as fair and reasonable. The offer is for 48.75 lakh equity shares (26 percent stake) at Rs 120 per share, aggregating to about Rs 58.5 crore. Offer price is above the BSE closing price of Rs 117.55 on 15 Oct 2026. Shareholders are advised to evaluate the offer, risk factors, and market prices independently.

Likely market impact

Shareholders may tender at Rs 120 per share, above the market price of Rs 117.55. Investors should evaluate offer terms and risks independently before deciding.