MIC Electronics gets approval from Indian Railways for fresh registration for emergency lighting system
The company has also stated that it has decided to issue equity shares of Rs 2 face value through qualified institutional placement (QIP).
Hyderabad-based electronics giant MIC Electronics has informed exchanges that it has received fresh registration approval from Indian Railways for emergency lighting systems.
"The Competent Authority had approved the capacity cum capability assessment of the company for item ID: 2400027, Emergency Lighting System for EOG Type LHB AC & NAC Coaches. Additional details are enclosed in the annexure," the filing reads.
Earlier, the company received a letter of completion/installation certificate from the Ratlam Division of Western Railway Zone. The letter of competition is related to three projects - including the replacement of train display boards at 7 stations.
The company has also stated that it has decided to issue equity shares of Rs 2 face value through qualified institutional placement (QIP).
The board of directors of the company 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.
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