MIMihika Industries538895Rights issue announcement

Board clears rights issue terms: partly paid shares up to ₹90.00 crore, payment in four tranches

Board meeting outcome dated November 02, 2026.

By ScoutQuest · Mon 2 Nov 2026, 8:03 PM IST · 2 min read

Rights Issue Size

amount not exceeding ₹90.00 crore

Face Value / Application Amount

Face value ₹10.00 per share; ₹2.50 payable on application

Issue Window

Opens November 19, 2026; closes December 04, 2026

Rights issue terms approved

The Board has approved the terms of a rights issue of partly paid equity shares of face value ₹10.00 each, for an amount not exceeding ₹90.00 crore. "Partly paid" means an investor does not pay the full value at one go; the money is collected in instalments, called calls, spread over several months.

• On application: ₹2.50 per share (face value ₹2.50, premium ₹0.00)
• First call: ₹2.50 per share, window January 11, 2027 to January 21, 2027
• Second call: ₹2.50 per share, window February 19, 2027 to March 02, 2027
• Third and final call: ₹2.50 per share, window April 01, 2027 to April 12, 2027
• Total per share: ₹10.00 (face value ₹10.00, premium ₹0.00)

Key dates for the issue

• Last date for credit of rights entitlements: November 09, 2026
• Issue opening date: November 19, 2026
• Last date for on-market renunciation of rights entitlements: December 01, 2026
• Issue closing date: December 04, 2026

What a shareholder should note

• The amount is collected in stages, so the full ₹10.00 per share is spread from application through April 2027 rather than paid upfront.
• The Board retains the right to change the payment schedule, including the timing of the calls and the amount payable on each call, based on business requirements and commercial considerations, subject to compliance with applicable laws.
• The Board or the Rights Issue Committee may extend the issue period, but not beyond 30 days from the Issue Opening Date (inclusive of that date).
• No withdrawal of an application is permitted by any applicant after the Issue Closing Date.
• Eligible shareholders were asked to ensure that renunciation through off-market transfer is completed so that the rights entitlements are credited to the demat account of the renouncees on or before the Issue Closing Date.

Other outcome

The Board also approved the Letter of Offer to be shared with the Securities and Exchange Board of India and BSE Limited. The earlier intimation was of the Board meeting dated October 28, 2026, where the issue of these partly paid equity shares was approved and the outcome of the Rights Issue Committee meeting on November 02, 2026 approving the terms of the rights issue.

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