Veggie Fest Foods Private Limited made an offer to acquire 26% stake in Mihika Industries Limited (BSE:538895) for INR 62.4 million on February 6, 2023. The offer per share is INR 24. In a related transaction, Veggie Fest Foods Private Limited entered into share Purchase Agreement to acquire 24.02% stake in Mihika Industries Limited (BSE : 538895) from Kuldeep Kumar Sethia, Jain Commodity Broking Pvt.

Ltd. and others for INR 57.6 million. The IDC of Mihika Industries is of the view that the offer is fair and reasonable. The tender offer is expected to commence on May 16, 2023, close on May 29, 2023.

Bonanza Portfolio Limited acted as a manager to the offer. Deepali Dhuri of Purva Sharegistry (India) Pvt. Ltd. of Veggie Fest Foods Private Limited.