Multibagger Stock Incorporates Wholly Owned Subsidiary By Subscribing 50,000 Shares of Rs 5 Lakh

Leading the way in the design, development, and production of high-end electronics, LED video displays, and LED luminaires is MIC Electronics Limited. The company declared on Saturday that it had subscribed for 50,000 equity shares at a price of Rs. 10 apiece, increasing its paid-up share capital, and incorporated MICK Digital India Limited (WOS) as a wholly owned subsidiary on November 8, 2024.

The company has paid 100% of the paid-up share capital in cash and subscribed for 50,000 equity shares at a face value of Rs. 10 each, totalling Rs. 5,00,000.

MIC Electronics informed stock exchanges that the objectives of the wholly owned subsidiary MICK Digital India is to manufacture, buy, sell, export, import, assemble, fit, repair, convert, overhaul, alter, maintain, improve, or otherwise dealing, either as principals or as agents or in collaboration with others, all types of smart meters, digital meters, roof mounted AC package units (RMPU), integrated power supply (IPS) systems, Mini Computers, Microprocessor based systems and Computer peripherals, to manufacture, sell export, Maintain or otherwise dealing either as principals or as agents or in collaboration with others, all types of stabilizers, Inverters, Converters, Process Control Instruments, Uninterruptible Power supplies, Power Supplies, Television and Wireless Apparatus, Audio and visual Communications, apparatus and Equipment including those using electromagnetic waves intended for Radio Telephone Communication, Photo Copiers, electronic lighting controls, Continuous Fan/Motor Speed controls, Continuous Flashers and Fire Alarm systems, Digital and other electronic Clock, Time Relays, Surgical, Medical and other Appliances intended for electro and other Therapy treatment and capacitors, Resistors, Condensers, Semiconductors, Transistors, rectifiers, Integrated and Hybrid Circuits, Relays, Potentiometers, Connectors, Printed Circuit Boards, Coils, Transformers, Switches, Volume Controls, plugs, Sockets, Diodes and allied Items intended for and used in electronic Devices, To Design and develop, import, export, sale, deal and purchase of computer software and hardware for all applications and also maintain, repair and otherwise deal in all kinds of microprocessors, moulds, systems and mini and microcomputer-based systems and electronic instrumentation systems, data processing equipment, software, all types of computers, required in industrial control applications, system programming, application programming, internet applications, electronic commerce, electronic circuits, entertainment equipment, space research and electronic industries of every kind and to establish services as internet and electronic-commerce services, programmers, system analysts and to provide consultancy services in the field of information technology and software, To undertake, take up, carry on, engage, give or take the job work, either alone or jointly, into the business of manufacturing, processing, assembling, trading, marketing, repairing and distribution, deal in all kind of materials, equipment for use in all kind of applications in market segments such as emobility, automotive, domestic, commercial, industrial, or for any other purposes and the matters ancillary thereto, including but not limited to energy storage & management products and technologies, all kind of batteries like Lead Acid Batteries, lithium cells; aluminum fuel cells, or fuel cells ("battery cells"); or such other chemistries and components of battery cells; and batteries packs composed of such battery cells including module making & other systems; electric vehicles; power conversion and evacuation systems etc.; integrated power systems; mobility solutions; battery swapping stations; power/energy management system; public or private charging network; chargers, invertors, capacitors; solar energy cells, including PV cells and modules or such other alternative energy generating devices and parts thereof and To do the business of manufacturing, trading and provide service of Lithium-ion Batteries, Lithium Polymer Batteries, Customized Battery Packs, Battery Chargers, Mobile Power, Electrical Items, Job Work Service, Electrical Vehicles, Systems directly or indirectly related to renewable energy generation and storage through solar, wind, water or any other renewable means, Installation, Commissioning and consultancy for Lithium Battery projects; to carry on all or any of the following businesses including but not limited to giving for job work or taking the job works.

With a market valuation of Rs 2.19KCr, MIC Electronics' shares closed Friday at Rs 91 apiece, down 3.39%. The company has generated a multibagger return of 133.33% over the last year, and on a year-to-date basis, the small-cap stock has delivered a multibagger return of 169.23% so far in 2024.