MIRC Electronics Limited Grants Stock Options, Plans Name Change
MIRC Electronics Limited announced on Tuesday, March 31, 2026, that its Board of Directors approved several key business items.The company granted 2,95,00,000 stock options to Chief Executive Officer Gunjan Srivastava under the 'MIRC Electronics Employee Stock Option Plan 2023.' Each option allows for the allotment of one equity share with a face value of Re. 1/-. The grant is comprised of 90,00,000 options priced at ₹11.40 and 2,05,00,000 options priced at ₹16.81. Vesting for time-based options will occur on March 31, 2027, 2028, 2029, 2030 and 2031, with 20% vesting on each date, provided the employee remains with the company. Performance-based options are linked to cumulative operating EBITDA targets of ₹100 Crores (fiscal years 2027 to 2030) and ₹400 Crores (fiscal years 2027 to 2032).
The Board also approved the vesting of 38,00,846 stock options granted to eligible employees, with 4,58,222 options vested at an exercise price of ₹14.10 per option.
Additionally, MIRC Electronics Limited is pursuing a name change, contingent on approvals from the Central Registration Centre (CRC) and other relevant authorities. A general meeting will be held on Wednesday, April 29, 2026, to seek member approval for the change.
The Board meeting commenced at 3:35 pm. IST and concluded at 5:51 pm. IST.
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