Mirc Electronics, part of Vijay Kedia's portfolio, sees board approve issue of shares and warrants
Consumer electronics firm Mirc Electronics saw initial gains in share price today before falling, after the company board gave its approval for raising Rs. 144.12 crore via shares and warrants to non promoter group shareholders. One of those reportedly picking up a stake was superstar investor Ashish Kacholia. The company was already in another superstar shareholder's portfolio - that VIjay Kedia's - his holding is below 1% and via annual report filings, he holds an estimated 0.58% stake. The amount raised, the company said, would be used to meet its long-term capital and corporate requirements. After losses in the previous year's Q2 and Q3, the company rallied and delivered strong profits and rising EBITDA margins in the most recent September quarter results.04-12-2017
