Mirc Electronics, which owns the Onida brand, has received board’s approval for raising of equity investment of Rs 144.12 crore from marquee investors to meet its long-term working capital and corporate requirements.
The board has approved issue of 1.92 crore equity shares and 1.92 crore warrants convertible into equity shares on preferential basis at issue price of Rs 37.53 to its several non-promoters.
Mirc Electronics is an electronics and consumer durables company. The company is engaged in the business of manufacturing and marketing of electronics goods under the brand names, Onida and IGO.
