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

MITSHI INDIA LIMITED (Formerly known as Dera Paints & Chemical Limited) CIN L9[100MIT1990PLCOST373 Reglstered Office 204 B-Wing, Master Mind 111, I: Building Aarey Milk Colony, Aareymilk Colony, Mumbai, Goregaon Cast, Maharashtra, India, 400065 Email 1ID- mushuindioegmail comyshabhumar2 Y myitsh i Wehsite www mitshi in | Tel.:9870020305 Date: 23 July, 2026 BSE Limited, "1 Towers, Dalul Street, Mumbai - 400001, Maharashtra, India Reference: ISIN - INES44D01017; Serip Code: 523782; Symbol- MITSIIL Sub: Karronn Naresh Bajaj (“Acquirer”) has entered into a Share Purchase Agreement dated 23 July, 2026 with the Promoter Seller (as defined below) for acquiring Voting Share Capital of Mitshi Indin Limited (“the Company”). Ref: Disclosure pursuant to Regulatio3n0 and 30 A of the Securities and Exchange Boaofr Inddia (Listing Obligntions and Disclosure Requirements) Regulations, 2015 (“SEBI (LODR) Regulutions”). Dear Sir/ Madam, We hereby inform you that the Acquirers has entered into a Share Purchase Agreement dated 237 July, 2026 with the Promoter Sellers (“Share Purchase Agreement/ SPA™), pursuant to which the Acquirer have agreed to ucquire, 13,70,070 (Thirteen Lakh Seventy Thousand Seventy) Equity Shares, which constitutes 15.57% (Fifteen point Five Seven Percent) of the voting share capital (“Equity and Voting Share Capital”) of the Company, foarn consideration 0f22,05,51,050/- (Rupces Two Crore Five Lakh Fifty Onc Thousand Fifty) subject to the statutory approvals, if any and satisfaction of conditions precedent specified in the Share Purchase Agreement (unless waived ofifn accordance with the Share Purchase Agreement) Pursuant to the acquisition of the aforesaid Voting Share Capital of the Target Company under the SPA, along with the acquisition of control and management of the Target Company, the Acquirer has triggered an open offer obligation under Regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 201 1, as amended (“SEBI (SAST) Regulations") Since, the Acquirer have enlered into the SPA to acquire voling righls in excess of 25% of the Equity and Voting Share Capital of the Company, accompanicd with control, the Open Offer for acquisition 0[22,38,000 (Twenty Two Lakh Eighty Eight Thousand) fully paid-up equity shares of face value of 210/~ (Rupees Ten Only) each (“Equity Shares™), representing 26% of the total Equity and Voting Share Capital of the Company on a fully diluted basis, as of the tenth working day from the closure of the tendering period of the Open Offer, from the public sharcholders of the Company for cash at a price o 215/- (Rupees Fifteen only) per Equity Share has been given by the Acquirer for the purpose of the Open Offer, pursuant (o and in compliance of the SEBI (SAST) Regulations (“Open Offer™) The details as required to be disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI master circular dated 11 July 2023, bearing reference no. SEBI/HO/CFD/PoD2/CIR/P/2023/120, and SEBI circular dated 13 July 2023, bearing reference no. SEBI/ITO/CFD/CFD-PoD-1/P/CIR/2023/123 MITSHI INDIA LIMITED (Formerly lavown ns Dern Paints & Chemical Limited) CIN: L91100MH 1990PLC057373 Repistered Office: 204 B-Wing, Master Mind 11, 2 Building Aarcy Milk Colony, Auceymilk Colony, Mumbai, Goregaon Fast, Maharashtra, India, 400065 Email ID- nitshiindin@gmal.com/shabkumar2 damitshi n Website: www.milshi.in | Tel.:9870020305 _— 2= - Disclosure under Clause SA [i.e Acquisition(s) (including ngreement to nequire)] of Para A of Part A of Schedule N1 of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) [Se. ] Particulars Description . A 1T the Company is o party of the agreement, (i) Detailsof the counterpurtics | Mitshi tndia Limited is not a party to the Share (including names and relutionship | Purchase Agreement. wilh the listed entity) B 1T Company is not o party to the agreement m Name of the party enterintio nsugch “Acquirer” means Mr. Knrronn Naresh Bajaj un agreement and the relationship | (“Acquirer”). The Acquirer does not have any with the listed entity; relationship with or interest in the Company. (i) Detuils of the counterpartics o the | *Promoter Scller™ means agreement (including name nad | Me. KumVa Shrah relutionship with the listed entity); [ Mrs. Deepa K Shah The Promoter Seller is the member of Promoter of the Company. i) Date ol entering into the agreement. | July 23, 2026 9 Purpose of entering into the | The SPA records the terms and conditions on which agreement the Seller (Promoter Seller “Seller™) has agreed to sell, and the Acquirer has agreed to acquire the Scller Shares (“Seller Shares” shall mean 13,70,070 (Thirteen Lakh Seventy Thousand Seventy) Equity Shares constituting up to 15.57% (Fifteen point Five Seven Percent) of the Equity and Voting Share Capital of the Company) along with the control over the Company Shareholding, if any, in the entity | NIL with whom the agreement s exeeuted Signilicant terms of the agreement ‘The sale ofS eller Shares under the SPA is proposed 1o be executed at a price of ¥ 15.00/- (Rupees Fifteen) per Equity Share. Pursuant to execution of the SPA, the Acquirer will be required to make an open offer in accordance with SEBI (SAST) Regulations. The consummation of the Proposed “Transaction is subject to satisfaction of conditions precedent in the SPA and receipt of the statutory approvals, if any. F. emE nx a lt n ie tan ygt e a mn ed n tt h oe r n ca ot nu tr re o lo of f t i hmp ea c lt is to en d cU op no tn e mpla tc eo dn su im n ma tt hi eo n S PA of and th pe o st t r sa un cs ca ec st si fo uln completion of the Open Offer, the Acquirer will %5,,,, MITSHI INDIA LIMITED (Formerly known as Dera Paints & Chemical Limited) CIN: L9 100MIT1990PLCO57373 Registered Office. 204 B-Wing, Master Mind 111, I} Building Aarey Milk Colony, Aareymilk Colony, Mumbai, Goregaon East, Maharashtra, India, 400065 Email ID- mitshi indiagmanl ¢ m/shahbumar2 Yemitsh n Website_www mitshi in| Tel.:9870020305 acquire control over the Company and the Acquirer shall become the promoter of the Company n accordance with the provisions of SEBI (LODR) Regulations Upon sale oft he entire sharcholding of the Promoter Scller in the Company pursuant to the SPA, the Promoter Seller and the other members of the Promoter and Promoter Group, if any are desirous that they will cease to be members of the promoter and promoter group of the Company and will be classified into public category, in terms of Regulation 31A (10) of SEBI (LODR) Regulations, 201s G Details and quantification of the | NA restriction or Jiability imposed upon the company 8 Whether, the said parties arc related | Save and except the Promoter Seller, none of the cto o mp pr ao nm io et se r/ inp r ao nmo yt e mr a ng nr eo rup / Ifg r yo eu sp , | | ppa rr ot mi ocs t e1 ro / pth re o mS oP tA er f go rr om u pp /a rt g ro of u por ca or me p r ae nl ia ete sd ot fo t th hee nature of relationship Compan 9 Whether the transaction would fall | No, the transaction would not fall within related within related party transactions? If party transactions yes, whether the same is done at “arm’s length” 10 In case of issuance of shares 1o the | NA parties, details of issue price, class of shares issued I Any other disclosures related to Upon completion of the Proposed Transaction. the such agreements, viz, details of Acquirer shall subject to the compliance of the nomince on the board ofd irectors of various statutory laws/obligations, 1f any, be entitled the listed entity potential conflict of to appoint 1ts representatives on the Board of interest arising out of such Directors of the Company afier expiry of the offer agreements, etc.; period in accordance with the provisions of (SAST) Regulations and terms oft he SPA Kindly take the same on your records. Thanking you Yours faithfully, For Mitshi India Kumar Vasantilal Shah Managing Director [Showing first 8,000 characters — download PDF for full document]