The board of directors of MIC Electronics has approved the allotment of 7.45 crore preferential convertible equity share warrants of face value of Rs 2 each at Rs 3 for promoters and investors.
The Bombay Stock Exchange and the National Stock Exchange had given in-principle approval for the allotment, MIC Electronics Chairman and Managing Director M V Ramana Rao informed the exchanges on Wednesday.
Of the total allotment, four promoters would be allotted 2.7 crore share warrants.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.