MIC Electronics board approves major fund-raising initiatives

The board of directors of MIC Electronics Limited, in a meeting held on November 05, 2025, approved a proposal to raise funds up to ₹250 crores through Qualified Institutions Placements (QIPs) or other permissible modes. This fund-raising is subject to shareholder and regulatory approvals.

Additionally, the board approved the issuance of Foreign Currency Convertible Bonds (FCCBs) in one or more tranches, with the aggregate amount not exceeding $15 million, also contingent on shareholder and regulatory consent. The board authorized the management committee to appoint agencies and consultants for these fund-raising activities.

An extraordinary general meeting (EGM) is scheduled for Monday, December 01, 2025, at 11:45 a.m. (IST) to seek necessary approvals. Mr. Y Ravi Prasada Reddy of RPR & Associates has been appointed as the scrutinizer for this EGM.