MIRC Electronics Limited successfully conducted its Extra-Ordinary General Meeting (EGM) on April 29, 2026, through video conferencing, approving significant corporate restructuring initiatives including a substantial employee stock option grant and company rebranding. The meeting, presided over by Chairman and Managing Director Vijay Mansukhani, concluded with shareholders approving both special resolutions presented.

Major ESOP Grant to CEO

The company approved the grant of 2,95,00,000 Employee Stock Options to Mr. Gunjan Srivastava, Chief Executive Officer, under the MIRC Employee Stock Option Plan 2023. This substantial grant represents one of the largest ESOP allocations in the company's recent history.

The time-based options will vest over five years starting March 31, 2027, with 20% vesting annually. Each vesting date will see 18,00,000 options becoming exercisable, provided Mr. Srivastava remains employed with the company.

Performance-Based Vesting Structure

The performance-based ESOPs are linked to ambitious cumulative operating EBITDA targets designed to drive long-term growth. The vesting structure includes two distinct tranches with specific financial milestones.

Vested options may be exercised within two years from the vesting date, providing flexibility for the CEO to optimize the timing of option exercise based on market conditions.

Company Name Change Approved

Shareholders approved changing the company name from "MIRC Electronics Limited" to "Onida Electronics Limited" along with consequential amendments to the Memorandum and Articles of Association. The rationale centers on aligning corporate identity with the well-established "Onida" brand to enhance brand recall and eliminate market confusion.

Regulatory Compliance and Filing

The company filed detailed disclosures under Regulation 30 of SEBI (LODR) Regulations with both BSE Limited and National Stock Exchange of India Limited on April 30, 2026. The filing includes comprehensive details of the ESOP grant structure, vesting conditions, and name change rationale as required under SEBI Master Circular guidelines.

The EGM was conducted in strict accordance with MCA and SEBI guidelines for virtual meetings, with remote e-voting facilitated through CDSL and proper scrutinizer appointment ensuring full regulatory compliance.

MIRC Electronics Limited has announced the opening of a special window to facilitate transfer and dematerialisation of physical securities, following regulatory guidelines from the Securities and Exchange Board of India (SEBI). The announcement was made through newspaper advertisements published on April 24, 2026.

Regulatory Framework and Timeline

The special window initiative is based on SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026. According to the company's communication to stock exchanges, the facility is specifically designed for physical securities that were sold or purchased prior to April 01, 2019.

Publication and Compliance

MIRC Electronics published the notification in two newspapers on Friday, April 24, 2026:

• Financial Express (English Newspaper)
• Navshakti (Marathi Newspaper)

The company communicated this development to both BSE Limited (Scrip Code: 500279) and National Stock Exchange of India Limited (Symbol: MIRCELECTR) in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Special Window Features

The special window facility addresses specific scenarios involving physical securities:

• Transfer deeds executed before April 01, 2019 that were not lodged
• Previously lodged transfer deeds that were rejected, returned, or not attended to due to document deficiencies
• Securities transferred under this window will be mandatorily credited in demat form
• A lock-in period of one year will apply from the date of registration of transfer

Shareholder Assistance

Shareholders seeking to utilize this facility are directed to contact the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, located at C-101, Embassy 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400 083. For additional information, shareholders can email investors@onida.com .

Corporate Authorization

The communication was signed by Vijay Mansukhani, Chairman and Managing Director (DIN: 01041809), and digitally authenticated on April 24, 2026. The company's registered office is located at Onida House, G-1, MIDC, Mahalaxmi Caves Road, Andheri (E), Mumbai - 400 093.