MIC Electronics Limited , a company listed on both the BSE and NSE, has witnessed a significant change in its shareholding pattern. RRK Enterprise Private Limited, a promoter of the company, has reduced its stake by selling a substantial number of shares in the open market.

Key Details of the Transaction

Impact on Shareholding

This transaction has led to a significant shift in the company's ownership structure. The promoter group's holding has now fallen below the crucial 50% threshold, which could have implications for the company's control and decision-making processes.

Company Share Capital

Despite the change in shareholding, MIC Electronics' share capital remains unchanged:

• Total Share Capital: Rs. 48,20,23,120
• Number of Equity Shares: 24,10,11,560
• Face Value per Share: Rs. 2

Regulatory Compliance

The disclosure of this transaction was made in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation requires prompt disclosure of any significant changes in shareholding patterns, especially those involving promoter groups.

This development may be of interest to investors and market analysts, as changes in promoter holdings often impact market perception and potentially the stock's performance. Shareholders and potential investors should keep an eye on any further developments or strategic changes that may follow this reduction in promoter stake.

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.