Mihika Industries538895Rights issue announcement

Letter of Offer: rights issue of 9,00,00,000 partly paid-up shares at Rs. 10 each in 9:1 ratio

Mihika Industries shared the Letter of Offer for a rights issue of 9,00,00,000 partly paid-up shares of Rs. 10 face value at Rs. 10 each, totalling Rs. 9000.00 Lakhs, in the ratio 9:1.

By ScoutQuest · Thu 5 Nov 2026, 11:51 PM IST · 3 min read

₹10Face value per equity share

Balance payable in three calls per share₹7.50

Amount payable on application per share₹2.50

Face value per equity share ₹10: Balance payable in three calls per share ₹7.50, Amount payable on application per share ₹2.50.

Rights issue ratio: 9:1 — 9,00,00,000 partly paid-up shares of Rs. 10 face value at Rs. 10 each, totalling Rs. 9000.00 Lakhs
Issue timetable: Record date November 06, 2026; opens November 19, 2026; closes December 04, 2026
Payment schedule: Rs. 2.50 payable on application; balance Rs. 7.50 in three calls

Mihika Industries Limited has submitted its Letter of Offer dated November 02, 2026 to the exchange for a rights issue of partly paid-up equity shares to its eligible shareholders.

Issue at a glance

Up to 9,00,00,000 partly paid-up equity shares of face value ₹10 each.
Issue price ₹10.00 per rights equity share, including a premium of ₹0 per rights equity share.
Issue size up to ₹9000.00 Lakhs, assuming full subscription, allotment and receipt of all call monies.
Ratio: 9 (Nine) rights equity shares for every 1 (One) fully paid-up equity share held on the record date.
Record date: Friday, November 06, 2026.

A partly paid issue, so payment is in stages

The shares are described as partly paid-up, which means the price is collected in instalments rather than all at once.

On application: ₹2.50 per rights equity share, which is 25 % of the issue price.
Balance: ₹7.50 per rights equity share, which is 75 % of the issue price, payable across three calls.
First call: ₹2.50 per share, on or about January 11, 2027 to January 21, 2027.
Second call: ₹2.50 per share, on or about February 19, 2027 to March 02, 2027.
Third and final call: ₹2.50 per share, on or about April 01, 2027 to April 12, 2027.
The Board retains the right to change this schedule of payment, including the timing of the calls and the amount payable on each call.

Issue timetable

Last date for credit of rights entitlements: Monday, November 09, 2026.
Issue opens: Thursday, November 19, 2026.
Last date for on-market renunciation of rights entitlements: Tuesday, December 01, 2026.
Date of closure of off-market transfer of rights entitlements: Thursday, December 03, 2026.
Issue closes: Friday, December 04, 2026.
Date of finalisation of basis of allotment and date of allotment: Monday, December 07, 2026.
Date of credit of rights equity shares and date of listing: Tuesday, December 08, 2026.

What an eligible shareholder can do

Apply for the rights equity shares in the ratio offered, and apply for additional rights equity shares beyond the entitlement.
Renounce the rights entitlements on-market through BSE up to Tuesday, December 01, 2026, or off-market through a depository participant, with the credit to the renouncee's demat account required on or prior to the issue closing date.
Applications are to be made through the ASBA facility, where the application money is blocked in the applicant's bank account.

Other points stated in the Letter of Offer

The company has received in-principle approval from BSE Limited for listing the rights equity shares, and BSE is the designated stock exchange.
MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is the registrar to the issue.
Brickwork Ratings India Pvt. Ltd. is the monitoring agency for the gross proceeds.

What to keep in mind

Because the shares are partly paid, only ₹2.50 is paid at application; the remaining ₹7.50 falls due over three calls running to April 2027, so the full amount should be planned for.
The issue price of ₹10.00 equals the face value of ₹10, with no premium.
The terms, dates and payment schedule above are as stated in the Letter of Offer; how the issue affects an individual holder depends on whether they subscribe to, or renounce, their entitlement within the stated dates.

25%Application money as share of issue price

Application money as share of issue price: 25 %.

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