Nandini Modi and Kirit Modi, along with their Persons Acting in Concert, have launched an open offer to acquire up to 48.75 lakh equity shares of The South India Paper Mills, representing 26% of its voting capital.

The offer price is ₹120 per share, totaling ₹58.50 Crore if fully accepted.

This follows their agreement to purchase 37.90 lakh shares (20.21%) from existing sellers for ₹45.48 Crore.

Post-acquisition, the acquirers and PACs will gain control and be reclassified as promoters.

This transaction significantly changes the company's ownership and control structure.