MIC Electronics to raise up to ₹250 crores via QIP, $15m through FCCBs

MIC Electronics Limited's extraordinary general meeting (EGM) on December 1, 2025, approved proposals to raise capital through two distinct mechanisms. The company plans to issue and allot securities to raise up to ₹250 crores through a qualified institutions placement (QIP) in one or more tranches to qualified institutional buyers.

Additionally, the EGM approved the issuance of foreign currency convertible bonds (FCCBs) on a private placement basis. This initiative aims to raise funds not exceeding $15 million, also in one or more tranches. These measures are designed to strengthen the company’s financial position and support its future growth initiatives.

The meeting, chaired by managing director Mr. Kaushik Yalamanchili, took place at the company's registered office and concluded at 12:40 P.M. The resolutions were put to vote via ballot, following a remote e-voting facility provided by CDSL from November 28-30, 2025.