MIRC Electronics Limited has informed the Exchange about General Updates
MIRCELECTR · price
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MIRC Electronics Limited (popularly known by its Onida brand) is launching a rights issue of up to 4,94,89,847 fully paid-up equity shares at Rs. 10 per share (face value Re. 1, premium Rs. 9), aiming to raise up to around Rs. 49.49 crores. Existing shareholders can subscribe in the ratio of 3 rights shares for every 14 fully paid-up equity shares held. The record date for eligibility is June 30, 2025, with the issue opening on July 14, 2025 and closing on July 21, 2025. The Letter of Offer, Abridged Letter of Offer, Application Form and Rights Entitlement Letter have been filed with BSE and NSE. Promoters of the company are Gulu Mirchandani and Vijay Mansukhani.
Eligible shareholders as on June 30, 2025 will get the right to buy additional shares at Rs. 10 each, or they may renounce/sell their rights entitlement. Shareholders who do not subscribe will see their ownership percentage diluted. The decision to apply, renounce, or ignore must be made before the issue closes on July 21, 2025.