Open Offer at Rs 120 per share for 26 percent of South India Paper Mills
Price
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Nandini Modi and Kirit Modi along with PACs have made an Open Offer to acquire up to 48,75,000 equity shares representing 26 percent of South India Paper Mills at Rs 120 per share in cash. Tender period runs October 22 to November 4, 2026. The Independent Directors committee deemed the offer price fair and reasonable. Note: J K Paper has raised non-compete objections to the deal which could delay or prevent completion.
Public shareholders may tender shares at Rs 120 between Oct 22 and Nov 4, 2026. Deal carries risk of delay or withdrawal due to J K Paper objections.