MIC Electronics has received an approval to invest by way of subscribing 10,50,000 equity shares of Right Automobiles at an issue price of Rs 32 per share including a premium of Rs 22 per share aggregating to Rs 3.36 crore, based on the valuation report and as a result of such investment Right Automobiles will become 51.22% subsidiary to the Company. The Board of Directors of the company at its meeting held on March 12, 2022, has approved the same.
MIC Electronics (MIC) is an India-based company. The company is engaged in manufacturing light emitting diode (LED) lighting solutions. The Company is engaged in the development, production and sale of video and animation displays and text and graphic displays.
