Synopsis:
Authum Investment & Infrastructure acquired a 21.25 percent stake in MIRC Electronics via preferential allotment, investing Rs. 131.62 crore, as part of an 8.89 crore share issue to four strategic investors.
During Friday’s trading session, shares of a company engaged in manufacturing and trading Consumer Electronics durable goods hit a 5 percent upper circuit on the stock exchanges, after Authum Investment & Infrastructure Limited raised its stake to 21.25 percent in the company, with a total investment of Rs. 131.62 crores.
With a market cap of Rs. 727 crores, the shares of MIRC Electronics Limited hit a 5 percent upper circuit at Rs. 25.92 on BSE, as against its previous closing price of Rs. 24.69. The stock has delivered positive returns of around 22 percent in the last one year, but has fallen by over 11 percent in one month.
What’s the News
According to the latest filings with the stock exchanges, the Finance Committee of MIRC Electronics approved the preferential allotment of over 8.89 crore equity shares, increasing the company’s fully paid-up share capital from ~Rs. 28.04 crores (28,04,42,464 equity shares of Re. 1 each) to ~Rs. 36.94 crore (36,93,92,364 equity shares of Re. 1 each).
The allotment was made exclusively to four investors: Authum Investment & Infrastructure Limited, Vikram Kotak (HUF), Jamish Investment Pvt. Ltd., and APT Real Estates Private Limited.
Authum Investment & Infrastructure Limited now holds a 21.25 percent (including a pre-holding of 0.07 percent) of equity shares in MIRC Electronics, with a total investment of around Rs. 131.62 crore. This follows a preferential allotment of 7.83 crore equity shares at Rs. 16.81 per share.
The acquisition is aimed at strengthening MIRC Electronics’ working capital position and supporting its long-term growth strategy. Under the terms of the Share Purchase and Shareholders’ Agreement, Authum will maintain its 21.25 percent stake in the company for the agreed term.
Financials & More
MIRC Electronics reported a decline in its revenue from operations, showing a year-on-year decrease of over 38 percent from Rs. 228 crores in Q1 FY25 to Rs. 141 crores in Q1 FY26. During the same period, the company swung to a net loss of Rs. 12.5 crore, compared with a net profit of Rs. 0.44 crores in Q1 FY25.
MIRC Electronics Limited is principally engaged in the business of manufacturing and marketing consumer electronics goods primarily under the brand name ‘Onida’. The company has three manufacturing plants, viz, Wada (Maharashtra), Lote-Parshuram, Chiplun (Maharashtra) and Roorkee-II (Uttarakhand).
Written by Shivani Singh
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