MIRC Electronics Limited has informed the Exchange about General Updates
MIRCELECTR · price
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MIRC Electronics has dispatched Rights Issue offer documents (Abridged Letter of Offer, Rights Entitlement Letter, and Composite Application Form) to eligible shareholders as on the record date of June 30, 2025. The company is issuing 4,94,89,847 equity shares at ₹10 per share (including ₹9 premium over the ₹1 face value) in the ratio of 3 rights shares for every 14 shares held, raising approximately ₹49.49 crores gross. The issue opens on July 14, 2025 and closes on July 21, 2025, with listing expected around August 1, 2025. Net proceeds after issue expenses of ₹4.22 crores will be utilized including general corporate purposes (capped at 25% of gross proceeds). Promoters have committed to subscribing to their full entitlement and will not renounce rights outside the promoter group. Notably, the company reported a net loss of ₹230 lakhs in FY25 (improved from a ₹6,221 lakh loss in FY24) on revenues of ₹75,742 lakhs.
Eligible shareholders will be offered 3 additional shares for every 14 held, and non-subscribing shareholders face dilution of their stake. Promoters' commitment to fully subscribe is a confidence signal, but the company's continued losses and negative cash flows (as flagged in risk factors) mean investors should weigh the dilution and ongoing business risks carefully before deciding to subscribe.