Srujan Alpha Capital Advisors LLP ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the public shareholders of Mitshi India Ltd ("Target ....

‘x SRUJAN ALPHA CAPITAL ADVISORS Adding Alpha to Value Date: August 06, 2026 The Manager BSE Limited P. J. Towers, Dalal Street, Mumbai - 400001 Dear Sir/ Ma’am, Sub: Open offer to acquire up to 22,88,000 representing 26% of the total voting share capital of Mitshi India Limited (the “Target Company”) by Mr. Karronn Naresh Bajaj (“Acquirer”) at a price of T15/- per fully paid up shares This is with reference to the captioned Open Offer to public shareholders of the Target Company and our email and letter dated July 23, 2026 submitting the Public Announcement (“PA”) and our email and letter dated July 30, 2026 submitting the Detailed Public Statement (“DPS”). We, in capacity of Manager to the Offer and in compliance with Regulation 16(1) of the SEBI (SAST) Regulation have filed the Draft Letter of Offer dated August 06, 2026 (“Draft LOF”) in respect of proposed acquisition of shares of Mitshi India Limited (“Target Company™”) by Mr. Karronn Naresh Bajaj (“Acquirer”) with the Securities Exchange Board ofI ndia pursuant to Regulation 16(1) of the SEBI (SAST) Regulations. ‘We request you to kindly upload the Draft Letter of Offer on your website. Thanking you, Authorised Signato Encl: As above SRUJAN ALPHA CAPITAL ADVISORS LLP | Corp. Off.: 1814/1815, 9, Business Bay, Mindspace, Chincholi Bunder Road, Malad (West), Mumbai 400064, Maharashtra wwwsrujanalpha.com SEBI Reg. Cat. | Merchant Banker 405, Crystal Mall, Sawai Jai Singh Highway, Bani Park, Jaipur - 302 016 | LLP Identification No.: AAW-1680 Merchant Banking | Valuation | Corporate Advisory | Regd. Off. : 1124, 1st Floor, Arun Bazar, . V. Road, Malad (W), Mumbai - 400 064 SEBI Registration No.: INM000012829 DRAFT LETTER OF OFFER (“DLOF”) THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This Draft Letter of Offer is sent to you as public shareholders (defined below) of Mitshi India Limited (“Target Company”). If you require any clarifications about the action to be taken, you may consult your stockbroker or an investment consultant or the Manager to the Offer (defined below) or the Registrar to the Offer (defined below). In the event you have recently sold your Equity Shares (defined below) in the Target Company, please hand over the Letter of Offer and the accompanying Form of Acceptance cum Acknowledgement to the purchaser of the Equity Shares or the member of the stock exchange through whom the said sale was effected. OPEN OFFER (“OFFER”) BY Mr. Kaaronn Naresh Bajaj (“Acquirer”) Residential Address: Near Hotel Govind, Garden, Flat no 101, Bldg E, La-Vida-Loca, SNo 66/2, 3, Pune, Maharashtra - 411027 Contact No.: +91 7770009993 ; Email: karronn.bajaj@gmail.com To the Eligible Shareholder(s) of Mitshi India Limited (“Target Company”) Registered Office: 204 B-Wing, Master Mind III, E Building Aarey Milk Colony, Aareymilk Colony, Mumbai, Goregaon East, Maharashtra, India, 400065 Contact No.: +91 9870020305| Email id- mitshi.india@gmail.com | Website: www.mitshi.in Corporate Identification Number: L91100MH1990PLC057373 to acquire upto 22,88,000 (Twenty Two Lakh Eighty Eight Thousand) Equity Shares of face value of ₹10/- each (“Offer Shares”) representing 26% (Twenty Six Percent) of the total voting share capital of the Target Company on a fully diluted basis, for cash at a price of ₹15/- (Rupees Fifteen Only) per fully paid up equity share (“Offer Price”). Please Note: 1. This Offer is being made by the Acquirer pursuant to Regulation 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”). 2. This Offer is not conditional upon any minimum level of acceptance in terms of Regulation 19 of SEBI (SAST) Regulations. 3. There is no differential pricing in this Offer. 4. This Offer is not a competing offer in terms of Regulation 20 of the SEBI (SAST) Regulations. If there is a competitive offer, then the Offer under all subsisting bids shall open and close on the same date. 5. There has been no competing offer as on the date of this Draft Letter of Offer. 6. As on the date of this Draft Letter of Offer, there are no statutory approvals required for the purpose of implementing this Offer. However, if any statutory or other approval(s) are required or become applicable prior to completion of the Offer, the Offer would be subject to the receipt of such statutory or other approval(s) being obtained and the Acquirer shall make necessary applications for such approvals. In the event such statutory approval(s) are not received or refused, the Acquirer will have the right to withdraw the Offer in accordance with Regulation 23 of the SEBI (SAST) Regulations, 2011. 7. If there is any upward revision in the Offer Price and/or Offer Size by the Acquirer, at any time prior to the commencement of the last 1 (one) working day before the commencement of the Tendering Period i.e., Tuesday, September 15, 2026, the same would be informed by way of a public announcement in the same newspapers where the original Detailed Public Statement was published. Such revision in the Offer Price would be payable by the Acquirer for all the Offer Shares validly tendered anytime during the Tendering Period of the Offer. If the Offer is withdrawn pursuant to Regulation 23 of SEBI (SAST) Regulations, the same would be communicated within 2 (two) working days by an announcement in the same newspapers in which the Detailed Public Statement was published. 8. A copy of the Public Announcement (“PA”), the Detailed Public Statement (“DPS”) are available on the website of Securities and Exchange Board of India (“SEBI”) at www.sebi.gov.in, and copy of this Draft Letter of Offer (“DLOF”) and Letter of Offer (“LOF”) (including the Form of Acceptance cum acknowledgement) will also be available on the website of SEBI at www.sebi.gov.in. 9. As on date of this Draft Letter of Offer, the marketable lot of Target Company is 1 (one). All future correspondence, if any, should be addressed to the Manager to the Offer/ Registrar to the Offer at the address mentioned below: MANAGER TO THE OFFER REGISTRAR TO THE OFFER SRUJAN ALPHA CAPITAL ADVISORS LLP ADROIT CORPORATE SERVICES PRIVATE LIMITED Registered Office Address: 112A, 1st floor, Arun Bazar, S.V. Road, Registered Address: 18-20, Jafferbhoy Industrial Estate, 1st Floor, Beside Bank of India, Malad (West), Mumbai - 400064 Makwana Road, Marol Naka, Andheri (East), Mumbai 400 059 Corporate Office Address: 1814/1815, 9, Business Bay, Mindspace, Tel No.: +91-22 - 42270449 Chincholi Bunder Road, Malad West, Mumbai, Maharashtra 400064 E-mail: haraprashadn@adroitcorpotate.com Tel. No.: +91 022-40143173; Investor Grievance: info@adroitcorproate.com E-mail: mitshiopenoffer@srujanalpha.com Website: www.adroitcorporate.com Website: www.srujanalpha.com SEBI Registration No.: INR000002227 Investor Grievance: partners@srujanalpha.com, Validity Period: Permanent jinesh@srujanalpha.com Contact Person: Mr. Hara Prasad Nahak SEBI Reg. No.: INM000012829 Validity Period: Permanent Contact Person: Mr. Jinesh Doshi OFFER OPENS ON: WEDNESDAY, SEPTEMBER 16, 2026 OFFER CLOSES ON: TUESDAY, SEPTEMBER 29, 2026 TENTATIVE SCHEDULE OF MAJOR ACTIVITIES RELATING TO THIS OPEN OFFER Sr. Tentative Activity Schedule Schedule of Activities No. (Day and Date) 1 Public Announcement (PA). Thursday, July 23, 2026 2 Publication of DPS in the Newspapers. Thursday, July 30, 2026 3 Last date for filing of Draft Letter of Offer with SEBI. Thursday, August 06, 2026 4 Last date for public announcement of Competing Offer(s)# Thursday, August 20, 2026 5 Last date for receipt of comments from SEBI on the Draft Letter of Offer will Friday, August 28, 2026 be received (in the event SEBI has not sought clarifications or additional information from the Manager to the Offer). 6 Identified Date* Tuesday, September 01, 2026 7 Last date by which the Letter of Offer to be dispatched to the Public Tuesday, September 08, 2026 Shareh [Showing first 8,000 characters — download PDF for full document]