Veggie Fest Foods Private Limited has initiated an open offer to public shareholders of Mihika Industries Limited for 26 per cent stake in the latter. The open offer was triggered by Veggie’s acquisition of 24 per cent stake from the promoters of Mihika, according to a regulatory filing. The transaction with the promoters was for a value of ₹5.76 crore, at ₹24 per share. The open offer is also set at ₹24 apiece.

Incorporated in 1983, Mihika Industries focuses on the trading of commodities and fabrics. Veggie Fest Food is an unlisted company, based out of Ahmedabad, Gujrat.