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.

Navigant Corporate Advisors Limited has issued a corrigendum updating the schedule of activities for the open offer by Mr. Shankar Varadharajan and Mr. Anancha Perumal Selvi Keshav to acquire up to 4,26,58,200 equity shares (26% stake) in Soma Papers and Industries Limited. The revision comes after SEBI's observation letter dated November 12, 2025.

Key Updates

1. Offer Price: The open offer price remains unchanged at Rs. 10.00 per share.

2. Preferential Allotment: A preferential allotment of 6,54,05,610 equity shares and 3,45,94,390 convertible warrants was completed on October 06, 2025. These securities are held in demat escrow accounts without voting rights.

3. Revised Schedule: The timeline for various activities related to the open offer has been updated. Key dates include:

Important Notes for Shareholders

• The identified date is solely for determining the names of shareholders to whom the Letter of Offer would be sent.
• All registered and unregistered equity shareholders of Soma Papers and Industries Limited are eligible to participate in the offer before its closure, except for the Acquirers, PACs, Selling Company, and public category preferential allottees.
• The Target Company has filed the updated shareholding pattern with BSE Limited, indicating that the preferentially allotted securities are "held in Demat Escrow Account."

Investors and shareholders of Soma Papers and Industries Limited should take note of these revised dates and updated information regarding the open offer. For further details, they may refer to the Letter of Offer once it is dispatched.

The Manager to the Offer, Navigant Corporate Advisors Limited, can be contacted for any queries related to this open offer.