MIC Electronics Ltd approves conversion of 16425000 warrants

The Board of Directors of MIC Electronics Ltd at its meeting held on March 19, 2015, has been concluded & approved the conversion of 1,64,25,000 (One Crore Sixty Four Lakhs Twenty Five Thousand) Preferential Convertible Share Warrants into equity shares in 1:1 ratio a part of 7,44,62,070 Preferential convertible Equity share Warrants allotted on November 25, 2014 as per In-principle approval under Clause 24(a) from Stock Exchanges.

Shares of MIC ELECTRONICS LTD. was last trading in BSE at Rs.7.9 as compared to the previous close of Rs. 8.44. The total number of shares traded during the day was 41525 in over 284 trades.

The stock hit an intraday high of Rs. 8.42 and intraday low of 7.9. The net turnover during the day was Rs. 336108.

Source : Equity Bulls

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