Mirc Electronics has received an approval for raising of funds up to Rs 33 crore by way of issue of equity shares to the existing shareholders of the company on a rights basis (Rights Issue) subject to all applicable statutory and regulatory approvals. The board of directors at its meeting held on December 04, 2013 has approved for the same.
The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue and other matters shall be decided by the committee constituted for the said purpose in consultation with the Lead Managers to the Rights Issue.
Mirc Electronics, sells consumer durables under brand Onida and is engaged in manufacturing and marketing of LCD TV, DVD and home theatres, air conditioner, washing machine, mobile phone, microwave oven and projectors and display products.
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