MIRC Electronics Board Approves Raising Funds Through Issue of Convertible Warrants

MIRC Electronics Board Approves Raising Funds Through Issue of Convertible Warrants​

MIRC Electronics Limited announced that its Board of Directors held a meeting on May 16, 2026, and approved several key corporate actions, including a major plan to raise capital through the issuance of fully convertible warrants.

During the meeting, the Board considered and approved a proposal to raise funds through the offer and issuance of up to 1,87,49,993 fully convertible warrants. These warrants are fully convertible into, or exchangeable at the option of the proposed allottees, into an equivalent number of fully paid-up Equity Shares of face value of Re. 1/- each.

The issue size is set at an aggregate consideration of up to Rs. 65,99,99,753.60. The warrants are proposed to be issued at an issue price of Rs. 35.20, which includes a premium of Rs. 34.20 per share. The converted shares will be fully paid up.

Key Corporate Actions Approved​

Beyond the capital raise, the Board noted the Statement of deviation or variation issued by the independent monitoring agency, Acuité Ratings & Research Limited, for the fourth quarter and year ended March 31, 2026.

Furthermore, the Directors approved convening an Extraordinary General Meeting (EGM) of the company’s members on Monday, June 8, 2026, which will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The draft Notice for this EGM was also approved.

Financial Details of Warrants Issuance​

The details concerning the proposed preferential allotment of warrants and the investors involved are outlined below. The Company plans to allot the warrants to 13 investors, with the total issue size reaching Rs. 65,99,99,753.60.


The largest proposed allottees include NEXTA ENTERPRISES LLP, which is proposed to receive 42,61,363 warrants for a value of Rs. 14,99,99,977.60. Resonance Opportunities Fund is also listed among the top allottees, with a proposed issue of 28,40,909 warrants valued at Rs. 9,99,99,996.80.

Shareholding Pattern Analysis​

The shareholding pattern details prior to and post the issue of the warrants provide a clear view of the proposed changes in public and promoter holdings.

The total pre-issue public shareholding was 21,97,40,595 shares, representing 59.49% of the total equity. Following the preferential issue, the shareholding pattern is projected to stabilize to a total public shareholding of 23,84,90,588 shares, maintaining a 61.44% holding.

For detailed transaction parameters and shareholding before and after the issuance, investors can refer to the comprehensive financial annexures, which specify the breakdown of investors and the associated equity shareholding changes.

MIRCELECTR Stock Price Movement​

On Friday, MIRC Electronics Limited shares slipped by 10.06% to close at ₹41.38. The stock settled amidst significant selling, finishing the day on a total traded volume of 5.77 million shares.