Offer Details

  • Acquirer: Mr. Karronn Naresh Bajaj
  • Target Company: Mitshi India Limited (CIN: L91100MH1990PLC057373)
  • Offer Size: Up to 22,88,000 fully paid-up equity shares of ₹10 each
  • Percentage: 26.00% of total voting share capital
  • Offer Price: ₹15 per equity share payable in cash (no revision from Letter of Offer)
  • Offer Type: Mandatory offer under Regulation 4 of SEBI (SAST) Regulations

Independent Directors Committee Recommendation

The Committee of Independent Directors (IDC) of Mitshi India Limited unanimously approved recommendations on August 27, 2026, stating that:

  • The offer is in line with SEBI (SAST) Regulations
  • The offer is fair and reasonable
  • The Offer Price is in line with parameters prescribed in SEBI (SAST) Regulations

Regulatory Process

  • Draft Letter of Offer submitted to SEBI on August 06, 2026
  • SEBI provided final observations vide letter no. I/18949/2026 dated August 17, 2026
  • All SEBI observations incorporated in the Letter of Offer
  • No statutory or other approvals required for the Open Offer as of LOF date

Shareholder Eligibility and Tendering Process

  • Identified Date: August 19, 2026 (for determining shareholders to whom LOF dispatched)
  • All public shareholders, including those acquiring shares after Identified Date, are eligible to participate
  • Letter of Offer dispatched electronically on August 26, 2026 and physically on August 27, 2026
  • Shares can be tendered through:
  • Physical shares: Via selling broker with Form SH-4
  • Dematerialized shares: Through selling broker registered with BSE Limited
  • Shareholders with non-BSE registered brokers can tender through buying broker

Competitive Situation

No competitive bid to this Open Offer has been received as of the date of this disclosure.

Implementation Mechanism

The Open Offer will be implemented through Stock Exchange Mechanism via a separate Acquisition Window obtained from BSE Limited, as provided under SEBI (SAST) Regulations and SEBI Master Circular dated February 16, 2023.

Revised Schedule of Activities

| Activity | Revised Date |

| Public Announcement (PA) | July 23, 2026 |

| Publication of DPS in Newspapers | July 30, 2026 |

| Draft Letter of Offer filing with SEBI | August 06, 2026 |

| Last date for competing offers | August 20, 2026 |

| SEBI comments receipt | August 17, 2026 |

| Identified Date | August 19, 2026 |

| Letter of Offer dispatch | August 27, 2026 |

| IDC recommendation publication | September 01, 2026 |

| Last date for upward revision | September 02, 2026 |

| Offer opening announcement | September 02, 2026 |

| Tendering Period commencement | September 03, 2026 |

| Tendering Period closure | September 17, 2026 |

| Payment completion/return of shares | October 01, 2026 |

| Post-offer announcement publication | October 09, 2026 |

Document Availability

All offer documents including Public Announcement, Detailed Public Statement, and Letter of Offer are available on websites of SEBI (www.sebi.gov.in), BSE Limited (www.bseindia.com), and Manager to the Offer (www.srujanalpha.com).

Disclaimer

The Acquirer accepts full responsibility for the information contained in this Advertisement and for fulfilment of obligations under SEBI (SAST) Regulations.