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Nandini and Kirit Modi entities plan to acquire The South India Paper Mills Limited
18-Aug-2026, 08:27
Nandini Modi, Kirit Modi, Sachin Kirit Modi, Swapnil Kirit Modi, Rigid Containers Private Limited, and Fortune Packaging LLP are making a takeover offer for The South India Paper Mills Limited (SIPM), according to a public announcement. The acquisition, linked to a pre-existing Share Purchase Agreement (SPA), will result in the Acquirers and their Persons Acting in Concert (PACs) gaining control of SIPM and becoming part of the company’s Promoter and Promoter Group. Sellers Harshad Natvarlal Modi and Rajul Harshad Modi will relinquish their shares in the process. The offer, being managed by Indcap Advisors Private Limited, is compliant with SEBI regulations and does not involve an intention to delist SIPM’s shares, which are listed on the BSE (Scrip Code: 516108). A Detailed Public Statement and Letter of Offer will be released within five working days, providing further specifics.
Nandini Modi, Kirit Modi, Sachin Kirit Modi, Swapnil Kirit Modi, Rigid Containers Private Limited, and Fortune Packaging LLP are making a takeover offer for The South India Paper Mills Limited (SIPM), according to a public announcement. The acquisition, linked to a pre-existing Share Purchase Agreement (SPA), will result in the Acquirers and their Persons Acting in Concert (PACs) gaining control of SIPM and becoming part of the company’s Promoter and Promoter Group. Sellers Harshad Natvarlal Modi and Rajul Harshad Modi will relinquish their shares in the process. The offer, being managed by Indcap Advisors Private Limited, is compliant with SEBI regulations and does not involve an intention to delist SIPM’s shares, which are listed on the BSE (Scrip Code: 516108). A Detailed Public Statement and Letter of Offer will be released within five working days, providing further specifics.