Open Offer at Rs 120 per share to buy 26 percent of South India Paper Mills

Open Offer TriggeredListed Co 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

+20.0%Reaction day

₹101.00

prior close

₹121.20

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.6%+20.6% vs market

Paper & Paper Products peers, median of 36sector-0.7%+20.7% vs sector

On the reaction day the stock moved 20.6 pts more than Nifty Microcap 250 and 20.7 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

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Sessions after the filingfrom the prior close

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Reaction day

+20.0-0.6+20.6-0.7+20.7

Next day

+20.5-0.1+20.6-1.2+21.8

+17.3+0.2+17.1-0.1+17.4

+11.0+0.4+10.6-1.2+12.2

+28.0+0.0+28.0-0.9+28.8

+26.4+0.6+25.8-1.3+27.8

+18.8+0.7+18.1-0.5+19.3

15d

+14.0+1.5+12.5+2.9+11.0

+16.6+0.2+16.4+1.2+15.4

+14.9-3.7+18.6-0.4+15.3

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UpDownMarket · Nifty Microcap 250Sector · Paper & Paper Products peers, median of 36Pending

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

AI summary

Acquirers Nandini and Kirit Modi, with PACs (family members and two entities), announced an open offer to acquire up to 48,75,000 equity shares (26 percent) of South India Paper Mills at Rs 120 per share, totalling Rs 58.50 crores. This follows an SPA to buy 37,90,240 shares (20.21 percent) from Harshad and Rajul Modi for Rs 45.48 crores. The acquirers will gain control of the company, listed on BSE (scrip code 516108). Indcap Advisors is manager to the offer.

Likely market impact

Public shareholders can tender shares at Rs 120 per share in cash. Change of control incoming; no delisting planned.