Chipmaker stock in focus as EGM approves raising funds via foreign currency convertible bonds: Details

Mumbai: Hyderabad-headquartered MIC Electronics Limited has informed exchanges that its board has considered and approved the proposal of raising funds by issuance of foreign currency convertible bonds (FCCBs). These bonds will be issued on a private placement basis, not exceeding USD 15 million in one or more tranches. The firm has also approved raising of funds up to Rs 250 crore through qualified institutions placement. Share price today The stock began the trading session in three green at Rs 48.23 against the previous close of Rs 48.18 on the BSE. It gained further to touch the high of Rs 48.60 but later fell amid profit booking to touch the low of Rs 46.99. The counter ended the trading session at Rs 47.86, with a dip of 0.66 per cent from the previous close. The market cap of the company stood at Rs 1,153.48 crore. Earlier, the company stated that it had received a Letter of Acceptance (LoA) from the Vijayawada Railway Division to install an IP-based integrated passenger information system at Annavaram and Yelamanchili railway stations. The order is worth Rs 1,49,88,884.77 and was issued by the Vijayawada Railway Division, part of the Indian Railways. Under this order, the company will perform design, supply, installation, testing, and commissioning. The company stated that the entire project will be completed within 12 months from the date of the agreement. The company's sales in the September 2025 quarter (Q2 FY26) stood at Rs 37.89 crore, compared to Rs 27.46 crore in the same quarter last year (September 2024). This represents a 38 per cent increase in sales. The company's total income for the quarter ended September 2025 was Rs 38.42 crore, compared to Rs 11.75 crore in June 2025. This also saw a significant increase. The company earned a profit of Rs 2.17 crore in this quarter, compared to Rs 1.67 crore in the previous quarter (June 2025). ALSO READ | How to turn Rs 10,000 monthly investment into Rs 1 crore without trading daily, expert explains (This article is for informational purposes only and should not be construed as investment, financial, or other advice.)