Open Offer by Modi family to acquire 26% of South India Paper Mills at Rs 120 per share
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 15.7 pts more than Nifty Microcap 250 and 15.3 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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Nandini Modi and Kirit Modi (acquirers) along with family members as PACs have announced a mandatory Open Offer to acquire up to 48,75,000 equity shares (26 percent) of South India Paper Mills at Rs 120 per share, totaling Rs 58.5 crores. This follows a Share Purchase Agreement signed August 18, 2026, where the acquirers will purchase 37,90,240 shares (20.21 percent) from existing promoters Harshad Modi and Rajul Modi at the same price. Post-transaction, acquirer group holding will rise to 39.39 percent. Offer managed by Indcap Advisors. Target company FY26 revenue Rs 434.49 crores, PAT Rs 10.74 crores.
Public shareholders get exit option at Rs 120 per share. Price likely to trade near offer price in short term. Change of control incoming.