MIC Electronics spurts up
By
Research Desk
about 8 years ago
MIC Electronics is in the limelight. On 1st Jan’2016 the company said that its Board will be meeting on 9th Jan to convert debt into equity shares on preferential basis and issue equity shares to investors on preferential basis.
The company currently has a debt ofRs.115 crore. Equity capital is already pretty big at Rs.31.48 – big vis-à-vis the earnings of the company; it will only bulge further after this conversion.
Promoters stake is very low at 16.10% as at 30th Sept 2015 and balance, 83.90% is floating stock. No FII holding.
The stock price is happy at least for today and it rose intra day over 13% to Rs.27.40, very close to its 52-week high of Rs.29.50.