Indcap Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13, 14 and 15(1) of Securities and ....

230 A, A.J.C. Bose Road,Kolkata - 700 020 T: +91 33 4069 8001 E: Indcap@indcap.in W: www.indcap.in Suite # 68, 6th Floor,Chitrakoot Building Kolkata Suite 1201, 12th Floor, Aurora Waterfront, GN 34/1, Sector 5, Salt Lake City, Kolkata 700091 T: +91 33 4069 8001 E: kolkata@indcap.in W: www.indcap.in Suite # 68, 6th Floor,Chitrakoot Building Date: 18.08.2026 Bombay Stock Exchange (BSE) Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai, Maharashtra, 400001 Sub: Open Offer to acquire up to 48,75,000 equity shares representing 26% of the voting share capital of The South India Paper Mills Limited by the Acquirers (as defined below) along with the PACs (as defined below) at an offer price of ₹120/- per fully paid-up share Dear Sir/Madam, We would like to inform you that Nandini Modi and Kirit Modi (collectively the “Acquirers”), along with (i) Sachin Kirit Modi; (ii) Swapnil Kirit Modi; (iii) Riddhi Sachin Modi; (iv) Bhuvi Swapnil Modi; (v) Rihaan Sachin Modi; (vi) Rigid Containers Private Limited; and (vii) Fortune Packaging LLP, (collectively the “PACs”) have announced an Open Offer for acquisition of up to 48,75,000 (Forty Eight Lakhs Seventy Five Thousand) fully paid-up equity shares of face value of Rs.10/- (Rupees Ten Only) each, representing 26% of the total equity and voting share capital of The South India Paper Mills Limited (“Target Company”) (having CIN L85110KA1959PLC001352, Scrip Code: 516108 and Scrip ID: STHINPA) on a fully diluted basis, from the public shareholders of the Target Company for cash at an offer price of Rs.120/- (Rupees One Hundred and Twenty Only) per Equity Share. The Open Offer is being made pursuant to and in compliance with Regulation 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”) In accordance with the provisions of Regulation 12(1) of the SEBI (SAST) Regulations, we, Indcap Advisors Private Limited, a SEBI registered Merchant Banker having Registration No. INM000013031, have been appointed as the Manager to the Open Offer, by the Acquirers. As required under Regulation 14(1) of the SEBI (SAST) Regulations, we are enclosing herewith a copy of the Public Announcement dated August 18, 2026 in relation to the Open Offer submitted to Securities and Exchange Board of India and the Target Company. We request you to kindly upload the Public Announcement on your website. We hereby submit the hard copies of the Public Announcement in connection with the Open Offer for your records and further necessary action. Kindly acknowledge receipt. Indcap Advisors Private Limited B angalore New Delhi Cove Offices 3rd Floor, 315 Rectangle One, Raheja Plaza, 3rd Floor, Richmond Rd, D-4, Saket, New Delhi-110017 Ashok Nagar, Bengaluru, Karnataka 560025 T: +91 11 4317 2313 CIN : U74120WB2008PTC125639 230 A, A.J.C. Bose Road,Kolkata - 700 020 T: +91 33 4069 8001 E: Indcap@indcap.in W: www.indcap.in Suite # 68, 6th Floor,Chitrakoot Building Kolkata Suite 1201, 12th Floor, Aurora Waterfront, GN 34/1, Sector 5, Salt Lake City, Kolkata 700091 T: +91 33 4069 8001 E: kolkata@indcap.in W: www.indcap.in Suite # 68, 6th Floor,Chitrakoot Building Yours sincerely, For and on behalf of, Indcap Advisors Private Limited Ravi Prakash Mundhra Compliance Officer Indcap Advisors Private Limited B angalore New Delhi Cove Offices 3rd Floor, 315 Rectangle One, Raheja Plaza, 3rd Floor, Richmond Rd, D-4, Saket, New Delhi-110017 Ashok Nagar, Bengaluru, Karnataka 560025 T: +91 11 4317 2313 CIN : U74120WB2008PTC125639 PUBLIC ANNOUNCEMENT UNDER REGULATIONS 3(1) AND 4 READ WITH REGULATIONS 13, 14 AND 15(1) OF SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, AS AMENDED FROM TIME TO TIME FOR ATTENTION OF THE PUBLIC SHAREHOLDERS OF THE SOUTH INDIA PAPER MILLS LIMITED (“TARGET COMPANY”) CIN: L85110KA1959PLC001352 Registered Office: Chikkayana Chatra, P.O.: Nanjangud, Nanjangud, Karnataka, India-571301 Tel. No: (08221) 228265 E-mail Id: corporate@sipaper.com Website: www.sipaper.com OPEN OFFER FOR ACQUISITION OF UP TO 48,75,000 (FORTY EIGHT LAKHS SEVENTY FIVE THOUSAND) FULLY PAID-UP EQUITY SHARES OF FACE VALUE OF ₹10/- (RUPEES TEN ONLY) EACH (“OFFER SHARES”), REPRESENTING 26.00% (TWENTY SIX PERCENT) OF THE VOTING SHARE CAPITAL (AS DEFINED BELOW), OF THE SOUTH INDIA PAPER MILLS LIMITED (THE “TARGET COMPANY”), BY NANDINI MODI (“ACQUIRER 1”), KIRIT MODI (“ACQUIRER 2”) (HEREINAFTER ACQUIRER 1 AND ACQUIRER 2, COLLECTIVELY REFERRED TO AS THE “ACQUIRERS”) TOGETHER WITH SACHIN KIRIT MODI, SWAPNIL KIRIT MODI, RIDDHI SACHIN MODI, BHUVI SWAPNIL MODI, RIHAAN SACHIN MODI, RIGID CONTAINERS PRIVATE LIMITED, FORTUNE PACKAGING LLP (“PERSONS ACTING IN CONCERT” OR “PACs”), FROM THE PUBLIC SHAREHOLDERS (AS DEFINED BELOW) OF THE TARGET COMPANY, PURSUANT TO AND IN COMPLIANCE WITH REGULATIONS 3(1) AND 4 READ WITH REGULATIONS 13, 14 AND 15(1) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, AS AMENDED FROM TIME TO TIME (“SEBI (SAST) REGULATIONS, 2011”) (“OFFER” OR “OPEN OFFER”). THIS PUBLIC ANNOUNCEMENT (“PA”/“Public Announcement”) IS BEING ISSUED BY INDCAP ADVISORS PRIVATE LIMITED, MANAGER TO THE OPEN OFFER, FOR AND ON BEHALF OF THE ACQUIRERS AND PACs, TO THE PUBLIC SHAREHOLDERS (AS DEFINED BELOW) OF THE TARGET COMPANY, WITH AN INTENTION TO ACQUIRE SUBSTANTIAL NUMBER OF EQUITY SHARES, VOTING RIGHTS AND CONTROL OF THE TARGET COMPANY PURSUANT TO AND IN COMPLIANCE WITH REGULATIONS 3(1) AND 4 READ WITH REGULATIONS 13, 14 AND 15(1) AND OTHER APPLICABLE PROVISIONS OF THE SEBI (SAST) REGULATIONS, 2011. For the purpose of this Public Announcement, the following terms have the meanings assigned to them below: a) “Acquirers” shall mean Nandini Modi and Kirit Modi collectively; b) “Acquisition Shares” shall mean 48,75,000 (forty-eight lakhs seventy-five thousand) Equity Shares representing 26.00% (twenty-six per cent) of the equity share capital of the Target Company; c) “Equity Shares” or “Shares” shall mean the fully paid-up equity shares of face value of ₹ 10/- (Rupees Ten only) each of the Target Company; d) “Manager to the Open Offer” or “Manager” shall mean Indcap Advisors Private Limited. e) “Parties to the Share Purchase Agreement” shall collectively mean Acquirers and the Sellers; f) “Persons Acting in Concert” or “PACs” shall mean Sachin Kirit Modi, Swapnil Kirit Modi, Riddhi Sachin Modi, Bhuvi Swapnil Modi, Rihaan Sachin Modi, Rigid Containers Private Limited, and Fortune Packaging LLP; g) “Public Shareholders” shall mean all the equity shareholders of the Target Company who are eligible to tender their Equity Shares in the Open Offer, except the parties to the Share Purchase Agreement, the PACs and other members forming part of the Promoter and Promoter Group who are not parties to the Share Purchase Agreement, and any person deemed to be acting in concert with them, pursuant to and in compliance with the provisions of regulation 7(6) of the SEBI (SAST) Regulations, 2011; h) “SEBI” shall mean the Securities and Exchange Board of India; i) “Sellers”/ “Selling Shareholders” shall mean Harshad Natvarlal Modi and Rajul Harshad Modi; j) “Share Purchase Agreement” or “SPA” shall mean the Share Purchase Agreement dated August 18,2026 executed between the Acquirers and the Sellers, pursuant to which the Acquirers have agreed to acquire the SPA Shares from the Sellers for the SPA Consideration; k) “SPA Shares” shall mean 37,90,240 (Thirty Seven Lakhs Ninety Thousand Two Hundred and Forty) fully paid-up Equity Shares of the Target Company constituting 20.21% (Twenty Point Two One Percent) of Voting Share Capital of the Target Company; l) “SPA Consideration” shall mean an amount of ₹ 45,48,28,800/- (Rupees Forty-Five Crores Forty-Eight Lakhs Twenty-Eight Thousand and Eight Hundred only) payable by the Acquirers to the Sellers, for acquisition [Showing first 8,000 characters — download PDF for full document]