Nature of the Event

Mihika Industries Limited is undertaking a rights issue of equity shares under Regulation 62 of the SEBI ICDR Regulations. The company filed this Letter of Offer with BSE Limited as the designated stock exchange.

Key Quantitative Figures

  • Issue Size: Up to 9,00,00,000 equity shares of face value ₹10 each
  • Issue Price: ₹10 per share (including premium of ₹0)
  • Total Proceeds: ₹9000.00 lakhs (₹90 crore) assuming full subscription
  • Net Proceeds: ₹8920.00 lakhs (₹89.2 crore) after deducting issue expenses of ₹80.00 lakhs
  • Record Date: November 06, 2026 (Friday)
  • Rights Entitlement Ratio: 9 rights equity shares for every 1 fully paid-up equity share held

Payment Schedule

| Particulars | Period | Face Value (₹) | Premium (₹) | Total (₹) |

| On Application | - | 2.50 | 0.00 | 2.50 |

| First Call | Jan 11-21, 2027 | 2.50 | 0.00 | 2.50 |

| Second Call | Feb 19-Mar 02, 2027 | 2.50 | 0.00 | 2.50 |

| Third & Final Call | Apr 01-12, 2027 | 2.50 | 0.00 | 2.50 |

| Total | | 10.00 | 0.00 | 10.00 |

The Board retains the right to change the payment schedule including timing and amount of calls.

Issue Schedule

  • Last Date for Credit of Rights Entitlements: November 09, 2026 (Monday)
  • Issue Opening Date: November 19, 2026 (Thursday)
  • Last Date for On-Market Renunciation: December 01, 2026 (Tuesday)
  • Issue Closing Date: December 04, 2026 (Friday)
  • Date of Finalization of Basis of Allotment: December 07, 2026 (Monday)
  • Date of Allotment: December 07, 2026 (Monday)
  • Date of Credit of Rights Equity Shares: December 08, 2026 (Tuesday)
  • Date of Listing: December 08, 2026 (Tuesday)

The Board may extend the issue period up to 30 days from the opening date.

Objects of the Issue

| Sr. No. | Particulars | Amount (₹ in lakhs) |

| 1 | To augment existing and incremental working capital requirement | Up to 8,065.00 |

| 2 | General corporate purposes | Up to 855.00 |

| 3 | Issue related expenses | Up to 80.00 |

| 4 | Total Gross Issue Proceeds | Up to 9,000.00 |

| 5 | Less: Issue Related Expenses | Up to 80.00 |

| 6 | Net Issue Proceeds | Up to 8,920.00 |

Capital Structure

  • Authorized Share Capital: 10,00,00,000 equity shares of ₹10 each (₹100 crore)
  • Issued, Subscribed & Paid-up Capital (pre-issue): 1,00,00,000 equity shares (₹10 crore)
  • Post-issue Capital (assuming full subscription): 10,00,00,000 equity shares (₹100 crore)

Promoter Participation

Promoter Veggie Fest Foods Private Limited (holding 47,14,190 shares, 47.14% as of date) may not subscribe to their full entitlement and may renounce rights on the stock exchange.

Regulatory Approvals

  • Received 'in-principle' approval from BSE Limited for listing on October 28, 2026
  • ISIN for Rights Entitlements: INE779Q20017
  • ISIN for Equity Shares: INE779Q01017

Minimum Subscription Clause

The requirement of minimum subscription applies under Regulation 86(1) of SEBI ICDR Regulations. If minimum subscription is not received, the company shall refund entire application monies within 4 days of closure.

Key Service Providers

  • Registrar to Issue: MUFG Intime India Private Limited
  • Banker to Issue: IDBI Bank Limited
  • Monitoring Agency: Brickwork Ratings India Pvt. Ltd.
  • Legal Advisor: ANA Advisors
  • Statutory Auditors: M/s. S K Bhavsar & Co.

Risk Factors

The document discloses 54 risk factors including internal risks (seasonal business, supply chain risks, negative cash flows), issue-specific risks (lapse of rights entitlements, call money payment risks), and external risks (economic conditions, regulatory changes).

Litigation

Two income tax proceedings pending against the company aggregating ₹27,41,400. No other material litigation against the company, directors, or promoter.

Foreign Investment Restrictions

The issue is not being made in the United States or any jurisdiction where such offers are restricted. Foreign investors are subject to FDI limits and regulations.

Financial Information

Based on audited financial statements for FY2026, FY2025, and FY2024:

  • Total Income from Operations: ₹325.46 lakhs (FY2026), ₹3533.85 lakhs (FY2025), ₹708.68 lakhs (FY2024)
  • Net Profit: ₹8.62 lakhs (FY2026), ₹5.46 lakhs (FY2025), ₹17.68 lakhs (FY2024)
  • Net Worth: ₹2196.99 lakhs (FY2026), ₹2188.36 lakhs (FY2025), ₹2182.90 lakhs (FY2024)

Tax Benefits

No special tax benefits available to the company or shareholders under current tax laws as certified by statutory auditors.

Material Contracts

  • Registrar Agreement dated July 17, 2026
  • Bankers to Issue Agreement dated November 02, 2026
  • Monitoring Agency Agreement dated September 07, 2026

Declaration

The company certifies that all disclosures are true and correct and comply with applicable laws and regulations.