MIRC Electronics Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on April 29, 2026
MIRCELECTR · price
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MIRC Electronics Limited has called an Extraordinary General Meeting on April 29, 2026 via video conferencing to vote on two key proposals. First, shareholders will consider granting 29.5 million employee stock options to CEO Mr. Gunjan Srivastava under the MIRC Employee Stock Option Plan 2023, which exceeds 1% of issued capital and requires a special resolution per SEBI regulations. Second, shareholders will vote on changing the company name from MIRC Electronics Limited to Onida Electronics Limited, requiring alteration of Memorandum and Articles of Association and regulatory approvals. Remote e-voting will be open from April 26-28, 2026 for eligible shareholders as of April 22, 2026 cut-off date.
The ESOP grant of 29.5 million options represents potential dilution for existing shareholders and signals strong executive retention efforts for the new CEO who joined in February 2026. The name change to Onida Electronics Limited aligns the corporate identity with the well-known Onida consumer electronics brand, which may have positive brand perception implications.