Soma Papers' board has approved a significant strategic move, including increasing its authorised share capital from Rs. 5 Cr to Rs. 165 Cr.

The company will acquire 100% of KS Smart Solutions, an IT solutions firm with FY25 turnover of Rs. 696.58 Cr, to expand into the B2G sector and enhance IT services.

This acquisition will be via a share swap worth Rs. 48.74 Cr.

To fund growth and the acquisition, the board also approved multiple preferential issues of equity shares and convertible warrants totalling approximately Rs. 225.34 Cr.

These proposals, aimed at boosting the company's IT capabilities and capital, await shareholder approval at an upcoming Extra-Ordinary General Meeting.