MIC Electronics announces QIP - Check floor price and other details

Electric equipment manufacturer MIC Electronics in an exchange filing said that the company decided to issue equity shares of Rs 2 face value through qualified institutional placement (QIP). 

MIC Electronics QIP Floor Price

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.
 
"Company may offer a discount of not more than 5 per cent on the floor price so calculated for the issue. The issue price will be determined by the company in consultation with the book running lead manager appointed in relation to the Issue," the company said.

Earlier, the company received an order from the Firozpur Division of Northern Railway for installing coach guidance display boards at major and important stations. The company has received this order through the tender process. The total value of this order is Rs 3,04,95,149.54.

According to the information, the company will have to complete this order within 9 months. Apart from this, the company also informed that Letter of Completion/Installation Certificate of DWK PF-1 CGDB and IPIS system has also been received at Hapa station from Rajkot Division of Western Railway.