Open Offer Letter received: Modi family to acquire 26 percent stake at Rs 120 per share

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

Price

Loading chart…

▲ 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

+0.5%Reaction day

₹117.00

prior close

₹119.95

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%+2.1% vs market

Paper & Paper Products peers, median of 36sector-1.8%+2.3% vs sector

On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 2.3 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

-0.6

10m

-0.5

15m

-0.8

30m

-0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.5-1.6+2.1-1.8+2.3

Next day

+0.9-1.0+1.9-1.0+1.9

-0.8-2.6+1.8-3.3+2.5

-1.0-5.1+4.2-6.0+5.0

+0.0-6.1+6.1-6.7+6.7

-1.5-8.3+6.8-8.7+7.2

-1.2-6.4+5.1-6.2+5.0

15d

—————

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

Letter of Offer received for an open offer to acquire up to 48,75,000 equity shares (about 26 percent of voting capital) at Rs 120 per share from public shareholders. Acquirers are Nandini Modi and Kirit Modi along with PACs. Offer opens Oct 22, 2026 and closes Nov 4, 2026. Triggered by Share Purchase Agreement dated Aug 18, 2026 under SEBI SAST Regulations for change in control. BSE closing price on Oct 12, 2026 was Rs 116.50. Pending dispute with J K Paper over non-compete obligations of former HPPL shareholders is flagged as a key risk.

Likely market impact

Public shareholders can tender shares at Rs 120 per share from Oct 22 to Nov 4, 2026. Offer price is slightly above recent market close of Rs 116.50 but deal carries legal risk.