MIRC Electronics Limited has informed the Exchange about clarification/rectification in the disclosure made on May 20, 2026 regarding grant of options
MIRCELECTR · price
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MIRC Electronics has issued a correction to its May 20, 2026 disclosure about employee stock options. The company is rectifying a clerical error where the date in the pricing formula was incorrectly mentioned as April 16, 2026 instead of the correct date April 01, 2026. Under the MIRC Electronics Employee Stock Option Plan 2023, the company granted 16,00,000 stock options to eligible employees. Each option entitles the holder to one equity share of Re. 1/- each. The exercise price is set at a 30% discount to the closing share price of April 01, 2026, with a floor price of Rs. 16.81 per share. Options vest upon achievement of performance milestones after a minimum 1-year period, and can be exercised within 2 years from vesting.
This is a minor administrative correction with no material impact on shareholders. The stock option plan remains unchanged in substance. The correction ensures regulatory compliance and accurate disclosure for investors.