Soma Papers and Industries Limited has experienced significant corporate developments, including a major contract win followed by regulatory compliance issues. The company's wholly owned subsidiary KS Smart Solutions Private Limited secured a contract worth approximately ₹680.00 crores from Acer India Private Limited via Electronics Corporation of Tamil Nadu Limited for supplying and installing laptop computers to educational institutions in Tamil Nadu between December 2025 and April 2026.

Detailed Pledge Invocation Disclosure

In a comprehensive regulatory filing dated December 16, 2025, promoter Narasimha Anumala disclosed the invocation of pledged equity shares under SEBI regulations. The disclosure reveals multiple pledge invocations affecting different promoter entities within the group.

The pledge invocation disclosure was made to both BSE Limited and the company in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing includes detailed breakdowns of encumbered shares across multiple promoter entities including Narasimha Rao Anumala and Ramesh Chaudary Anumala.

Promoter Group Pledge Details

The regulatory filing reveals that the pledge invocations were primarily related to loan arrangements, with shares being held as collateral. The document indicates that various lenders including Barwal Vinya Reddy and others were involved in the pledge arrangements.

Open Offer Details

This development comes alongside an ongoing open offer triggered by the company's new acquirers. The open offer is being made by Mr. Shankar Varadharajan and Mr. Anancha Perumal Selvi Keshav along with persons acting in concert including Mr. Rohan Ramaswamy, Mr. Subramanyam Venkatesh, and Mr. Seethapathi Vignesh.

Recent Corporate Actions

On October 6, 2025, the company made a preferential allotment of 6,54,05,610 equity shares and 3,45,94,390 convertible warrants to the acquirers and persons acting in concert. These securities have been credited to their respective demat escrow accounts in compliance with SEBI regulations, though the acquirers do not have voting rights for these allotted shares and warrants.

Impact on Stakeholders

The pledge invocation alongside the substantial contract win presents a mixed scenario for shareholders. While the ₹680.00 crore contract through KS Smart Solutions could potentially boost the company's financial performance, the pledge invocation indicates potential financial stress at the promoter level. The detailed regulatory disclosure demonstrates compliance with SEBI transparency requirements, providing shareholders with comprehensive information about promoter shareholding encumbrances.

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.