Multibagger small-cap stock MIC Electronics is likely to hog the limelight in trade on Thursday, November 6, following the board nod to various fundraising proposals, along with other proposals.
MIC Electronics’ board, at its meeting held today, approved raising funds via qualified institutional placement (QIP) and issuance of Foreign Currency Convertible Bonds (FCCBs). Along with this, the board also finalised the details of the extraordinary general meeting (EGM) and appointment of the Scrutinizer for the said EGM.
Fundraising plans
BSE Smallcap index constituent MIC Electronics said its board has approved raising ₹250 crore via QIP
“… Raising of funds by way of issuance of securities for cash through qualified institutions placements (‘QIPs’) or through any other permissible mode and/or combination thereof, for an aggregate amount not exceeding ₹ 250 Crores (Rupees Two Hundred and Fifty Crore only) in one or more tranches subject to the approval of shareholders of the Company and other regulatory/statutory approvals,” MIC Electronics said.
Additionally, the board also approved raising funds by way of issuance of FCCBs in one or more tranches, provided that the aggregate amount to be raised by issuance of FCCBs shall not exceed $15 million.
The company’s board also authorised the Management Committee of the Board to appoint various agencies/intermediaries/consultants in connection with the proposed fund raisings.
EGM details
MIC Electronics said that its board has also approved the date, time and venue of the EGM of the company, which is scheduled to be held on Monday, December 01, 2025, at 11.45 a.m. (IST) and approved the draft EGM Notice.
The board has appointed Y Ravi Prasada Reddy, Proprietor of RPR & Associates, Practising Company Secretaries, as Scrutinizer for the said EGM of the company.
MIC Electronics share price trend
Small-cap stock MIC Electronics ended Tuesday’s trade 2.11% lower at 52.77 as the Indian benchmark indices closed over 0.6% lower. In the last one year, MIC Electronics’ share price has lost 42%.
However, it has emerged as a multibagger stock on a long-term basis, having risen 1,836% from ₹2.80 on November 5, 2025, to its current level. According to BSE data, the scrip has touched a 52-week high of ₹96.59 and a 52-week low of ₹44.50.
The stock commands a market capitalisation of ₹1,272 crore as of its last closing price.
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