MIRC Electronics Limited has informed the Exchange regarding 'Allotment of Shares'.
MIRCELECTR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MIRC Electronics (maker of Onida brand electronics) has allotted 4,94,89,845 fully paid-up equity shares of face value Re. 1 each at a price of Rs. 10 per share (including a premium of Rs. 9), raising approximately Rs. 49.5 Crores under a rights issue to eligible shareholders. This is part of the company's plan to raise up to Rs. 50 Crores via rights issue, as approved by the Board earlier in September 2024. After this allotment, the company's paid-up equity share capital has increased from Rs. 23.09 Crore (23.09 crore shares) to Rs. 28.04 Crore (28.04 crore shares), representing a dilution of roughly 17.6% for existing non-applicants. The Rights Issue Committee meeting was held on August 1, 2025.
The rights issue has been fully subscribed and allotted, which strengthens the company's capital base by ~21%. The issue price of Rs. 10 is at a significant premium to face value, though existing shareholders who did not apply will see their stake diluted. The purpose of the fund raise has not been disclosed in this allotment letter, so investors should watch for further announcements on how the money will be deployed.