MIC Electronics shares traded almost flat on Monday after the company announced the date for its Extra-Ordinary General Meeting (EGM) to discuss fundraising plans. The smallcap stock slipped nearly 1% to ₹50.86 on the BSE.
The industrial products manufacturer informed exchanges that its EGM will be held on Monday, December 1, 2025, at its Hyderabad office. During the meeting, shareholders will vote on two major fundraising proposals. The first involves raising up to ₹250 crore through a Qualified Institutions Placement (QIP) to Qualified Institutional Buyers, possibly in multiple tranches. The funds are intended for acquisitions, debt repayment, working capital, investments in subsidiaries, and general corporate needs. The second proposal seeks approval to raise up to $15 million through Foreign Currency Convertible Bonds (FCCBs) via private placement, also in one or more tranches.
Remote e-voting will be open from November 28 to 30, with November 25 set as the cut-off date for eligible members. Y. Ravi Prasada Reddy of RPR & Associates has been appointed as the scrutinizer.
In terms of stock performance, MIC Electronics has dropped 11% over the past month but gained 13% in three months. The stock is down 40% year-to-date but has risen 32% in two years and delivered a massive 5,382% return over five years. As of 11:35 AM, it traded 0.16% higher at ₹51.45 per share on the BSE.
