MITSHI : OPEN OFFER FOR 26% STAKE WORTH RS 3.43 CR

• Acquirer Karronn Naresh Bajaj made open offer for up to 22,88,000 fully paid equity shares (26%) at ₹15/share • Offer size ₹3.43 Cr if fully accepted; only 5,79,417 shares (6.58%) actually accepted, worth ₹86.91 L • Acquirer held 13,70,070 shares (15.57%) acquired via share purchase agreement before the open offer • Post-offer acquirer stake 41.57% (full acceptance scenario) v 22.15% (actual acceptance) • Public shareholding post offer 38.43% (full acceptance) v 77.85% (actual) • Offer opened September 03, 2026 and closed September 17, 2026; consideration paid on October 01, 2026 Impact: Neutral (Open offer was heavily undersubscribed, lifting acquirer stake to 22.15% from 15.57% but far short of the 41.57% full-acceptance level, leaving control dynamics largely unchanged)

Mitshi India Ltd

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