MIRC Electronics Limited has informed the Exchange regarding Outcome of Board Meeting held on April 17, 2026.
MIRCELECTR · price
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MIRC Electronics (Onida brand) Board approved exploring redevelopment, sale or transfer of its registered office 'Onida House' in Mumbai (2,143 sq meters) and monetization of land property at Lote in Ratnagiri district (20,004 sq meters). Managing Director Kaval Mirchandani has been authorized to take appropriate actions subject to regulatory approvals. The company clarified there will be no manpower cuts and all permanent employees will be relocated to suitable premises during any redevelopment phase. The board meeting lasted 22 minutes (3:36 pm to 3:58 pm) on April 17, 2026.
Asset monetization could unlock significant value for the debt-laden electronics company. Onida House being the registered office means a potential relocation is on the cards. The company will make further disclosures as per SEBI requirements.