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| MIC Electronics to raise Rs 218 cr via warrants, GDRs |
| Press Trust of India / Mumbai Aug 17, 2009, 11:42 IST |
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MIC Electronics today said it will raise an amount of Rs 218.96 crore by issuing warrants to various promoters, non-promoters and from international markets.
The board of directors has approved to raise short/ long-term resources from domestic and international markets, MIC Electronics said in a filing to the Bombay Stock Exchange.
The company would offer 93,75,000 warrants at Rs 44.36 per share amounting to Rs 41.58 crore and would further issue 71,25,000 warrants at Rs 44.36 a piece, aggregating to Rs 31.60 crore to various promoters and non-promoters, the filing said.
Further, the company would raise $30 million (nearly 145.77 crore) by issuing Global Depository Receipts (GDRs) and American Depository Receipts, the filing added.
The proposal is subject to shareholders' approval, it said. Shares of MIC Electronics were trading at Rs 52 on the BSE, down 0.19 per cent from previous close.
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