MIC Electronics Ltd allots 27087070 shares

The Board of Directors of MIC Electronics Ltd at its meeting held on September 30, 2015, has considered, issued and allotted 2,70,87,070, (Two Crores Seventy lakhs Eighty Seven thousand and Seventy) equity shares by conversion of Preferential Convertible Equity Share Warrants to the below promoters and investors in 1:1 ratio.

The Board also approved the appointment of Shri Kakarala Siva Lakshmana Rao as Financial Advisor to advise Board of Directors and Management.

Shares of MIC ELECTRONICS LTD. was last trading in BSE at Rs.19.6 as compared to the previous close of Rs. 19.95. The total number of shares traded during the day was 296516 in over 787 trades.

The stock hit an intraday high of Rs. 20.6 and intraday low of 19.45. The net turnover during the day was Rs. 5887154.

Source : Equity Bulls

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