Soma Papers & Industries Limited has announced the successful completion of its open offer, marking a significant transition in the company's ownership structure and management control. The development follows the previously scheduled open offer by Mr. Shankar Varadharajan and Mr. Anancha Perumal Selvi Keshav to acquire up to 4,26,58,200 equity shares representing a 26% stake in the company.

Open Offer Completion and Management Transition

The company informed BSE Limited on January 15, 2026, that the open offer made to public shareholders has been successfully completed. Consequent to this completion, the acquirers have gained control of the company, resulting in a change of management and control effective from January 15, 2026.

The Board of Directors has formally acknowledged the completion of the open offer and the resultant change in management structure. This transition represents the culmination of the acquisition process that began with the revised schedule following SEBI observations in November 2025.

Key Transaction Details

The open offer maintained its original pricing and structure despite the schedule revisions:

Promoter Reclassification

In accordance with Regulation 31A (10) of the SEBI LODR Regulations, the Board has noted the reclassification of erstwhile promoters from the "Promoter and Promoter Group" category to the "Public" category. This reclassification takes effect from the date of change in management and control, aligning with the intent disclosed in the Letter of Offer.

The company has confirmed that all conditions and compliances prescribed under Regulation 31A (10) for such reclassification have been duly satisfied. The announcement was signed by Vanteddu Lakshmi Priya Darshini, Whole-time Director & CFO, indicating the formal completion of all regulatory requirements.

Timeline Completion

The successful completion comes after the revised schedule that was updated following SEBI's observation letter. The offer, which opened on November 28, 2025, and closed on December 11, 2025, has now reached its final stage with the payment of consideration and formal management transition completed by January 15, 2026.

This development marks the end of the acquisition process and establishes new management control at Soma Papers & Industries Limited, with all regulatory compliances fulfilled as per SEBI requirements.

Soma Papers and Industries Limited has announced a significant move to bolster its presence in the technology sector by making an additional investment in its wholly owned subsidiary, KS Smart Solutions Private Limited (KSSPL). This strategic decision, completed on October 6, 2025, involves the acquisition of a 100% equity stake in KSSPL, comprising 36,062 equity shares at Rs. 10 each, through cash consideration.

Investment Details

About KS Smart Solutions

KSSPL, incorporated on April 28, 2016, is a technology company that offers comprehensive IT solutions across hardware, software, and emerging technologies. Its services span various domains including:

• Software and app development
• IT infrastructure
• Training and digital solutions
• AR/VR technologies
• Smart city solutions
• E-commerce
• Digital marketing

For the financial year 2024-25, KSSPL reported the following financial results:

Strategic Objectives

The investment aims to achieve several strategic objectives:

1. Expand KSSPL's presence in the Business-to-Government (B2G) sector
2. Strengthen its position in technology and IT-enabled services
3. Enhance capabilities in surveillance systems and edutech solutions

This move aligns with KSSPL's growth strategy and is expected to improve its ability to deliver integrated solutions to government clients.

Regulatory Compliance

Soma Papers and Industries Limited has confirmed that this transaction does not fall under related party transactions. The company has also stated that no governmental or regulatory approvals were required for this acquisition.

Market Implications

This investment signals Soma Papers' commitment to diversifying its portfolio and capitalizing on the growing demand for technology solutions, particularly in the government sector. The move may potentially position the company to benefit from increased government spending on digital infrastructure and smart city initiatives.

As the technology sector continues to evolve rapidly, Soma Papers' strategic investment in KSSPL could provide it with a competitive edge in the market. However, investors and market watchers will likely keep a close eye on how this investment translates into tangible growth and profitability for the company in the coming years.