MIC Electronics Limited (MIC) is set to hold an Extra-Ordinary General Meeting (EGM) on December 1, 2025, to seek shareholder approval for two significant fundraising proposals. The company aims to raise up to ₹250 crores through a Qualified Institutions Placement (QIP) and up to $15 million via Foreign Currency Convertible Bonds (FCCBs).

Fundraising Proposals

1. Qualified Institutions Placement (QIP)

   • Amount: Up to ₹250 crores
   • Target: Qualified Institutional Buyers
   • Method: One or more tranches

2. Foreign Currency Convertible Bonds (FCCBs)

   • Amount: Up to $15 million
   • Method: Private placement basis

Proposed Fund Utilization

MIC Electronics plans to use the funds for various purposes, including:

• Acquisitions of domestic/foreign business units
• Debt repayment
• Working capital requirements
• Cash margin for non-fund based working capital
• Investments in subsidiaries
• Capital expenditure
• General corporate purposes

Key Dates

Additional Details

• The EGM will be held at the company's registered office in Hyderabad.
• The company has appointed Mr. Y Ravi Prasada Reddy of M/s. RPR & Associates as the scrutinizer for the e-voting process.
• The resolutions will be considered as passed if the votes cast in favor exceed the votes cast against.

MIC Electronics' move to raise funds through QIP and FCCBs indicates the company's strategic intent to strengthen its financial position and pursue growth opportunities. Shareholders will play a crucial role in determining the outcome of these proposals at the upcoming EGM.

Investors and stakeholders should note that the approval of these resolutions will give the Board the flexibility to issue securities as deemed appropriate, considering market conditions and regulatory requirements. The actual timing, pricing, and terms of the issuances will be determined by the Board or its authorized committee if the resolutions are approved.

Investors are advised to carefully review the full EGM notice and consult with their financial advisors before making any investment decisions.

MIC Electronics Limited has announced a significant fundraising initiative to bolster its financial position. The company's board of directors, in a meeting held on November 5, 2025, approved two major funding mechanisms: a Qualified Institutional Placement (QIP) and the issuance of Foreign Currency Convertible Bonds (FCCBs).

Fundraising Details

The company's fundraising plan comprises two key components:

QIP Offering

MIC Electronics plans to raise up to ₹250.00 crore through a QIP, targeting domestic institutional investors. This move aims to strengthen the company's capital base and support its growth initiatives.

FCCB Issuance

In addition to the QIP, the company is looking to tap into international markets by issuing FCCBs worth up to $15.00 million. These bonds, denominated in foreign currency, will be convertible into equity shares, potentially attracting foreign investors and diversifying the company's funding sources.

Approval Process

The board has emphasized that both fundraising initiatives are subject to shareholder approval and other necessary regulatory clearances. An Extraordinary General Meeting (EGM) has been scheduled for December 1, 2025, at 11:45 AM (IST), where shareholders will vote on these proposals.

Management Committee Authorization

The board has authorized its Management Committee to appoint various agencies, intermediaries, and consultants to facilitate the proposed fundraising activities. This step is crucial for ensuring smooth execution of the capital raising process.

Scrutinizer Appointment

Mr. Y Ravi Prasada Reddy, Proprietor of RPR & Associates, Practicing Company Secretaries, has been appointed as the Scrutinizer for the upcoming EGM, ensuring transparency and compliance with regulatory requirements.

This comprehensive fundraising strategy underscores MIC Electronics' commitment to strengthening its financial position and pursuing growth opportunities.