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PNN
Mumbai (Maharashtra) [India], July 15: MIRC Electronics Limited (NSE Code: MIRCELECTR, BSE Code: 500279), renowned for its legacy in electronics and home appliances, opens its Rights Issue on Monday, July 14, 2025, aiming to raise 49.49Crore. The issue size is 4,94,89,847 equity shares at a face value of 1 each with an Issue Price of 10 Per Share. Rights Issue details: - Right Issue Price - 10 Each Share - Right Issue Size - 49.49 Crore - Right Entitlement - 3 Shares for every 14 shares held - Record Date - 30th June 2025 - Renunciation Of RE - 14th July to 16th July 2025 The net proceeds from the Rights Issue will be utilized to strengthen the company's existing and incremental working capital requirements of our company and for general corporate purposes. Mr. Vijay Mansukhani, Chairperson & Managing Director of MIRC Electronics Limited, expressed, "We are delighted to announce the launch of our Rights Issue--a significant milestone that marks the continued evolution of Onida as a leading Indian electronics and home appliances company in the Consumer Electronics Industry. This issue will meaningfully strengthen our balance sheet and enhance our financial performance, creating long-term value for all stakeholders. Our experienced team is driving the company's aspiration to become a leading consumer electronics brand by delivering affordable and innovative product solutions that support the Digital India mission. The company is expanding its global footprint through new product launches while maintaining strong after-sales support." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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