Karronn Naresh Bajaj (Acquirer) has entered into a SPA Dated 23rd July, 2026 with the Promoter seller for acquiring the voting share capital the Company
M&A
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MEDIUM RISK
📅 Filed on BSE: 23 Jul 2026, 09:53 PM IST · BSE ID: 3d00e0ac-61ba-4b98-a192-762a2de704bc
View Original BSE Filing (PDF)
💡
In Simple Terms
A new investor is buying 15.57% of Mitshi India from existing promoters, triggering an open offer for more shares.
🤖 AI Summary
- Acquirer Karronn Naresh Bajaj entered a Share Purchase Agreement on July 23, 2026, for Mitshi India.
- Acquisition involves 13,70,070 equity shares, 15.57% of voting share capital, for ₹2,05,51,050.
- This triggers an open offer for 26% additional equity shares from public shareholders at ₹15 each.
- Upon transaction completion, Promoter Sellers will be reclassified to the public category.
- The acquisition also entails control and management of Mitshi India by the Acquirer.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Equity Shares Acquired
13,70,070 Equity Shares
Percentage of Voting Share Capital Acquired
15.57%
Consideration for Acquisition
₹2,05,51,050
Open Offer Price per Share
₹15
🏢 How This Affects the Company
The acquisition includes transfer of control and management of Mitshi India to Karronn Naresh Bajaj, which could lead to changes in business strategy.
The transaction involves a direct financial inflow to the Promoter Sellers from the share acquisition, and the company will facilitate the open offer process.
The incoming Acquirer will be entitled to appoint representatives to the Board of Directors, potentially impacting operational oversight.
The change in control and management introduces new strategic and operational leadership, altering the company's existing risk profile.
👥 What This Means For Shareholders
✅
Action Required
Public shareholders have the option to tender their shares in the open offer for cash at ₹15 per equity share.
👤
Who Is Affected
Existing public shareholders are affected as they can participate in the open offer to sell up to 26% of the total equity and voting share capital of the company. Promoter Sellers Mr. Kumar V Shah and Mrs. Deepa K Shah will cease to be promoters.
🔍
Management Signal
The agreement signals a clear intent for a change in control and management, with the Acquirer becoming the new promoter and the current Promoter Sellers seeking reclassification to the public category.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Announcement of the detailed schedule and opening/closing dates for the open offer.
Status update on statutory approvals and satisfaction of conditions precedent for the SPA.
Information regarding the new board appointments by the Acquirer after offer period.
MEDIUM RISK
Change of control and management introduces new leadership and potential strategic shifts, alongside open offer uncertainties.
💡 Investor Takeaway
Karronn Naresh Bajaj is acquiring 15.57% of Mitshi India's voting share capital for ₹2,05,51,050 from Promoter Sellers, at ₹15 per share. This triggers an open offer for 26% stake at ₹15 per equity share from public shareholders, transferring control.
⚖️ Strengths & Concerns
✅ Positives
- The Share Purchase Agreement is for a fixed consideration of ₹2,05,51,050 for 15.57% of voting share capital.
- The transaction includes the acquisition of control and management of Mitshi India by Karronn Naresh Bajaj.
⚠️ Concerns
- The consummation of the Proposed Transaction is subject to satisfaction of conditions precedent and receipt of statutory approvals.
- The Acquirer does not have any prior relationship with or interest in Mitshi India, representing a new management dynamic.
📅 Company Track Record
A previous filing on July 23, 2026, confirmed an Open Offer for a 26% stake in Mitshi India by Mr. Karronn Naresh Bajaj at ₹15 per share. This current filing details the Share Purchase Agreement that triggered the open offer.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
Who is acquiring shares in Mitshi India Limited?
Mr. Karronn Naresh Bajaj is the Acquirer entering into a Share Purchase Agreement to acquire shares in Mitshi India Limited.
What percentage of Mitshi India's voting share capital is being acquired?
The Acquirer has agreed to acquire 15.57% of the voting share capital of Mitshi India Limited.
What is the consideration for the acquisition of shares?
The consideration for acquiring 13,70,070 Equity Shares is ₹2,05,51,050.
What is the open offer price per equity share for Mitshi India?
The open offer for public shareholders is at a price of ₹15 per Equity Share.
What will happen to the current Promoter Sellers after the transaction?
Upon completion of the transaction, the Promoter Sellers and their group will cease to be promoters and will be reclassified to the public category.
Questions based on this BSE filing only. For information purposes.