Mitshi India Ltd: Open Offer for 26% Stake by Karronn Bajaj

Mitshi India Limited has announced an Open Offer for its public shareholders. Mr. Karronn Naresh Bajaj, the acquirer, intends to acquire up to 22,88,000 fully paid-up equity shares, representing 26.00% of the total voting share capital. This offer is made pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer price is not explicitly stated in this announcement but will be detailed in the Letter of Offer. The acquisition is linked to a Share Purchase Agreement where the acquirer agreed to buy 15.57% stake from promoters Mr. Kumar V Shah and Mrs. Deepa Kumar Shah.