Authum acquires 21.25% stake in MIRC Electronics for INR 1.31bn

Authum Investment & Infrastructure Limited has announced the acquisition of 783,000,000 equity shares in MIRC Electronics Limited, a company listed on both BSE and NSE. The shares were issued at INR 16.81 per share, comprising a face value of INR 1 and a premium of INR 15.81. This preferential allotment results in Authum holding a 21.25% stake in MIRC, including a pre-existing holding of 0.07%. The total investment by Authum in MIRC stands at INR 131,62,23,000.

The acquisition aims to provide working capital for MIRC Electronics, enabling it to sustain its growth trajectory within the consumer durable goods industry. MIRC Electronics, with a registered office in Mumbai, Maharashtra, reported a net worth of INR 125.72 crores and a turnover of INR 757.42 crores as of March 31, 2025.

This strategic move is expected to support MIRC, which manufactures and trades consumer electronics, with no governmental or regulatory approvals required for the acquisition. The transaction was completed upon the allotment of equity shares.