MIRC Electronics Limited has informed the Exchange regarding Outcome of Committee Meeting held on August 01, 2025.
MIRCELECTR · price
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MIRC Electronics (maker of Onida brand) has completed its rights issue of equity shares. The Rights Issue Committee, which met on August 1, 2025, approved the allotment of 4,94,89,845 fully paid-up equity shares at Rs. 10 per share (face value Re. 1, premium Rs. 9). This is part of the fund-raising plan approved earlier for up to Rs. 50 crore on a rights basis. Following the allotment, the company's paid-up equity share capital has increased from about Rs. 23.10 crore (23.09 crore shares) to about Rs. 28.04 crore (28.04 crore shares). The company has not disclosed the specific use of proceeds in this filing.
The share count has expanded by roughly 21% (from 23.10 crore to 28.04 crore shares). On the positive side, the company has raised fresh capital at a premium of Rs. 9 per share; however, the share price may face dilution pressure in the short term as the newly issued shares begin trading.