Indcap Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulations 3(1) and 4 read with Regulations 13(4), 14(3) and 15(2) ....

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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: 25.08.2026 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 26.00% 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 26.00% 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(4) of the SEBI (SAST) Regulations, we are enclosing herewith a copy of the Detailed Public Statement dated August 25, 2026, published on 25.08.2026 in the E-Newspaper of Financial Express (English All editions), Jansatta (Hindi All editions), Udaykala (Kannada, Bangalore edition) and Mumbai Lakshdeep (Marathi, Mumbai edition). We hereby attach the artwork of the final DPS in connection with the Open Offer for your records and further necessary action. We request you to kindly upload the Detailed Public Statement on your website. 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 DETAILED PUBLIC STATEMENT IN TERMS OF REGULATIONS 3(1) AND 4 READ WITH REGULATIONS 13(4), 14(3) AND 15(2) AND OTHER APPLICABLE REGULATIONS OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, (“SEBI (SAST) REGULATIONS, 2011”) AS AMENDED FROM TIME TO TIME, TO THE PUBLIC SHAREHOLDERS (AS DEFINED BELOW) OF THE SOUTH INDIA PAPER MILLS LIMITED 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 AND LAKHS SEVENTY FIVE THOUSAND) Sr. Company Name Designation Original Date of Listing Status Particulars Fiscal 2026 Fiscal 2025 Fiscal 2024 FULLY PAID-UP EQUITY SHARES HAVING A FACE VALUE OF ?10/- (RUPEES TEN ONLY) EACH (“OFFER No. appointment SHARES”) REPRESENTING 26.00% (TWENTY SIX PERCENT) OF THE VOTING SHARE CAPITAL (AS DEFINED 1 Jagdamba Cartons Private Limited Director 24/01/2018 Unlisted Total Income (including Other Income) 47.72 94.00 52.76 BELOW) OF THE SOUTH INDIA PAPER MILLS LIMITED (“TARGET COMPANY”) AT A PRICE OF ?120/- (RUPEES 2 Indian Corrugated Case Manufacturers Director 16/10/2009 Unlisted Net Profit/(Loss) after Tax 29.64 66.62 38.54 ONE HUNDRED AND TWENTY ONLY) PER OFFER SHARE BY NANDINI MODI (“ACQUIRER 1”) AND KIRIT MODI Association EPS 47.90 107.66 62.29 (“ACQUIRER 2”) (ACQUIRER 1 AND ACQUIRER 2, COLLECTIVELY THE “ACQUIRERS”), TOGETHER WITH Net worth/Shareholder’s Fund 464.41 434.77 368.15 3 Laxmi Board And Paper Mills Private Director 27/05/2003 Unlisted SACHIN KIRIT MODI, SWAPNIL KIRIT MODI, RIDDHI SACHIN MODI, BHUVI SWAPNIL MODI, RIHAAN SACHIN Limited 9. Fortune Packaging LLP (“PAC 7”) MODI, RIGID CONTAINERS PRIVATE LIMITED AND FORTUNE PACKAGING LLP (COLLECTIVELY THE 4 Fortune Packaging LLP Designated Partner 16/09/2025 Unlisted 9.1 Fortune Packaging LLP is a limited liability partnership incorporated on May 02, 2018, under the “PERSONS ACTING IN CONCERT” OR “PACs”), FROM THE PUBLIC SHAREHOLDERS (AS DEFINED BELOW) 2.8 Acquirer 2 will be classified as a “Promoter” of the Target Company along with the existing Promoters provisions of the Limited Liability Partnership Act, 2008. The limited liability partnership identification OF THE TARGET COMPANY PURSUANT TO AND IN COMPLIANCE WITH REGULATIONS 3(1) AND 4 READ WITH and Promoter Group, pursuant to the completion of the Open Offer. number of PAC 7 is AAM-5332. 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 B. INFORMATION ABOUT THE PACS: 9.2 PAC 7 has its registered office at 801, A wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road (SAST) REGULATIONS, 2011”) (“OFFER” OR “OPEN OFFER”). 3. Sachin Kirit Modi (“PAC 1”) (West), Mumbai City, Mumbai, Maharashtra, India, 400013. The contact details of PAC 7 is +91 THIS DETAILED PUBLIC STATEMENT (“DPS” or “DETAILED PUBLIC STATEMENT”) IS BEING ISSUED BY 3.1 Sachin Kirit Modi, an individual, aged 52 years, s/o Kirit Natvarlal Modi, an Indian National, has his 9987234801 and the e-mail address is kiritmodioffice@gmail.com. The Permanent Account Number INDCAP ADVISORS PRIVATE LIMITED (“MANAGER TO THE OPEN OFFER” OR “MANAGER”), FOR AND ON residential address at Flat No. 183 B, 18th Floor, B Wing, Kalpataru HO, S K Ahire Marg, Near TV Tower, (PAN) of PAC 7 is AAFFF8981J. BEHALF OF THE ACQUIRERS ALONG WITH THE PACS, TO THE PUBLIC SHAREHOLDERS (AS DEFINED BELOW) Worli, Mumbai, 400018, Maharashtra. The contact details of PAC 1 is +91 9820181491 and the e-mail 9.3 PAC 7 is, inter alia, engaged in the business of manufacturing, buying, selling, importing, exporting, OF THE TARGET COMPANY, PURSUANT TO AND IN COMPLIANCE WITH REGULATIONS 3(1) AND 4, READ address is sachin@kmoffice.in. The Permanent Account Number (PAN) of the PAC 1 is AFYPM8727M. processing, twisting or otherwise handling or dealing in paper, pulp and boards of all kinds including WITH REGULATIONS 13(4), 14(3), 15(2) AND OTHER APPLICABLE REGULATIONS OF THE SEBI (SAST) 3.2 There have been no changes in the name of PAC 1 in the past. straw boards, mill boards, [Showing first 8,000 characters — download PDF for full document]