Shares of the MIRC Electronic gained after the company raised Rs144cr via allotment of shares and warrants to the non-promoter group (Ashish Kacholia and others) at Rs37.53 per share and warrant.
The board has approved the issue of 1.92 cr equity shares and 1.92 cr warrants convertible into equity shares on a preferential basis at an issue price of Rs37.53 to its several non-promoters to augment its long-term working capital and corporate requirements, the company said in the BSE filing.
The issue price has been determined in accordance with the provisions of SEBI regulations, 2009. This would result in the infusion of the Rs144.12cr worth of equity into the company, the statement said.
The board has convened an extraordinary general meeting of the shareholders on December 27 for getting their approval for the issue of shares and warrants, it added.
MIRC Electronics Ltd is currently trading at Rs52, up by Rs0.2 or 0.39% from its previous closing of Rs51.8 on the BSE.
The scrip opened at Rs55.6 and has touched a high and low of Rs55.6 and Rs51.7 respectively.
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