South India Paper Mills Receives ₹58.5 Crore Open Offer For Control

Modi family acquirers agreed to buy 20.21% of South India Paper Mills from Harshad and Rajul Modi for ₹45.48 crore and launched a mandatory cash offer for 26% at ₹120/share (₹58.5 crore); post-transaction ownership would be 39.39% with control. Context: formalizes prior Modi-family accumulation into a control transaction.