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.

MIC Electronics Limited has announced a crucial board meeting scheduled for November 5, 2025. The primary agenda of this meeting is to consider and potentially approve a proposal for raising funds through various modes.

Fund Raising Options Under Consideration

The board will deliberate on multiple fund-raising methods, including:

1. Qualified Institutions Placement (QIP)
2. Foreign Currency Convertible Bonds (FCCBs)
3. Other permissible modes

The company has indicated that the fund-raising may be conducted in one or more tranches, targeting eligible investors. However, any decision made will be subject to necessary approvals from shareholders and regulatory authorities.

Additional Agenda Items

Apart from the fund-raising proposal, the board meeting will also address the following:

1. Seeking necessary shareholder approvals for the proposed fund-raising
2. Appointment of key intermediaries for the fund-raising process, including:
   • Merchant bankers
   • Legal advisors
   • Other required agencies

Regulatory Compliance

This announcement comes in compliance with Regulation 29(1)(d) and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Board Meeting