MIRC Electronics Limited has informed the Exchange that Board of Directors at its meeting held on Jun 24, 2025, has decided to issue equity shares on rights basis in the ratio of 3 : 14, i.e 3 Equity Shares for every 14 Equity Shares held. Issue Price is 10 per share.
MIRCELECTR · price
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MIRC Electronics (the Onida brand company) has approved a rights issue of 4,94,89,847 equity shares at Rs. 10 per share (face value Re. 1, premium Rs. 9), aiming to raise up to Rs. 49.49 crores from existing shareholders. Eligible shareholders can subscribe in the ratio of 3 shares for every 14 shares held. The record date has been fixed as Monday, June 30, 2025, with the issue opening on July 14, 2025 and closing on July 21, 2025. Full amount is payable on application. The Board has already received in-principle approvals from NSE and BSE for the rights issue.
The rights issue will expand the share count by about 21.4%, so shareholders who do not subscribe will see their stake proportionally diluted. Existing investors who participate can maintain their ownership percentage at Rs. 10 per share, which may be at a discount to the prevailing market price, making it an opportunity to top up holdings cheaply.