MIRC Electronics Limited (MIRCELECTR) — Board Meeting

📢 Key Event
Shareholders to vote on preferential issue of convertible warrants at EGM

🔄 What Changed
Approval sought for up to 1.875 crore convertible warrants at ₹35.20 each, raising ₹659.99 crore

🔮 What's Next
Warrants exercisable over 18 months with 25% upfront payment

💡 Investor Takeaway
This dilution increases public holding but reduces promoter stake, potentially pressuring share price

MIRC Electronics Limited announced an Extraordinary General Meeting on June 8, 2026, to seek shareholder approval for issuing up to 1.875 crore convertible warrants at ₹35.20 each, raising [amount not verified]. Funds will be used for working capital (₹38 crore), general corporate purposes (₹16 crore), and debt repayment (₹11.99 crore) within 18 months. The issue price exceeds the SEBI floor price of ₹35.12, and warrants will lapse if unexercised within 18 months. Shareholders will vote electronically via NSDL, with no physical attendance or proxy allowed. The board recommends approval, citing alignment with company interests and regulatory compliance.

📄 View Original Announcement (PDF)

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