MIRC Electronics Limited has informed the Exchange about Copy of Newspaper Publication
MIRCELECTR · price
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MIRC Electronics Limited (known for the Onida brand) has informed the stock exchanges about the newspaper publication of its Rights Issue, carried on July 8, 2025 in Financial Express (English), Jansatta (Hindi), and Navshakti (Marathi). The company is issuing 4,94,89,847 fully paid-up equity shares of face value ₹1 each at a price of ₹10 per share (including a ₹9 premium), aggregating up to ₹4,948.98 lakhs. The ratio is 3 rights shares for every 14 equity shares held, with the record date set as June 30, 2025. The issue opens on July 14, 2025, and closes on July 21, 2025, with on-market renunciation allowed until July 16, 2025. Promoters Gulu Mirchandani and Vijay Mansukhani are backing the issue, and MUFG Intime India is the registrar.
Eligible shareholders as of the record date (June 30, 2025) can subscribe to the rights shares at ₹10 apiece, which is 10 times the face value. The issue price and ratio may lead to short-term dilution, but promoter participation signals confidence in the fundraising.