Electric Equipment Company MIC Electronics Announces QIP At Rs 48.30 Floor Price

In the period of boom in the stock market, MIC Electronics, a leading company in the electric equipment business, has decided to issue equity shares of Rs 2 face value through qualified institutional placement. The board of directors of the company has approved the issuance of the QIP issue at a floor price of Rs 48.30 from June 12. The company can give a discount of five per cent to investors on the floor price.

In the last 6 months, the stock of MIC Electronics has given investors a return of 46 per cent from a low of Rs 36. In a year, the stock of MIC Electronics has made investors rich by giving a bumper return of 158 per cent from a low of Rs 20. On 24 December 2021, the stock of MIC Electronics was at a low of Rs 18 from where investors got a return of 195 percent. From a low of Rs 12.70 on 28 April 2023, the stock of MIC Electronics has made investors rich by giving a bumper return of 350 per cent.

Recently, the company received a big order of guidance display boards from the Ferozepur division of Northern Railway. The company installs coach guidance display boards at many major railway stations of Ferozepur division. This order is worth Rs 3.5 crore.

On Wednesday, MIC Electronics shares were witnessing a five-day rise and reached the level of Rs 54.7.2. MIC Electronics is a small-cap company with a market cap of Rs 1110 crore. The 52-week high of MIC Electronics shares is Rs 60 while the 52-week low is Rs 20.55. In the last 5 days, the shares of MIC Electronics have given investors a return of 8 percent while in the last 1 month, this share has risen by 12 percent.

Earlier, the company reported standalone quarterly numbers with Net Sales at Rs 22.96 crore in March 2024 up 675.78% from Rs. 2.96 crore in March 2023. Quarterly Net Profit at Rs. 49.59 crore in March 2024 up 1940.74% from Rs. 2.43 crore in March 2023. EBITDA stands at Rs. 6.28 crore in March 2024 up 105.9% from Rs. 3.05 crore in March 2023. MIC Electronics EPS has increased to Rs. 2.24 in March 2024 from Rs. 0.11 in March 2023.

MIC Electronics Ltd., founded in 1988, is a leading manufacturer of LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment, and software. They also produce medical equipment like oxygen concentrators and batteries. Headquartered in India, MIC exports its products globally and has a presence in the USA, Australia, UK, and other countries.