Extraordinary General Meeting scheduled on Monday, June 08, 2026.
ONIDA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mirc Electronics Limited (Onida brand) has scheduled an EGM on June 8, 2026 at 3:30 PM via video conferencing. The main agenda is to seek shareholder approval for issuing up to 1,87,49,993 Convertible Warrants at Rs. 35.20 per warrant, raising approximately Rs. 66 crore. All 13 proposed allottees belong to the public/non-promoter category, with major subscribers being NEXTA Enterprises LLP (Rs. 15 crore), Resonance Opportunities Fund (Rs. 10 crore), and Roopali Uppal (Rs. 8 crore). Each warrant carries the right to subscribe to one equity share within 18 months of allotment. Buyers must pay 25% upfront and the balance 75% upon exercise. If all warrants are exercised, it will result in significant dilution for existing shareholders.
This preferential issue of convertible warrants will bring fresh capital to the company but will dilute existing shareholder equity if all warrants are converted. The involvement of institutional and high-value individual investors signals external confidence in the company, though shareholders should prepare for potential share count increase and voting power change.