Indian equity benchmarks edged higher on Thursday, supported by strong quarterly results from State Bank of India, Mahindra & Mahindra, and Britannia Industries, while the addition of four local companies to a key MSCI index further lifted sentiment.
The Nifty 50 rose 0.13% to 25,633 and the BSE Sensex gained 0.27% to 83,680.25 as of 10:07 am IST.
Meanwhile, MIC Electronics Board Approves Fundraising of ₹250 Cr via QIB and $15 Mn through FCCBs
MIC Electronics Limited announced that its Board of Directors has approved a proposal to raise up to ₹250 crore through Qualified Institutional Placement (QIP) and $15 million via Foreign Currency Convertible Bonds (FCCBs). The proposed fundraising is subject to shareholder approval and other necessary regulatory clearances.
The company recently signed a Memorandum of Understanding (MoU) with Chipex Technologies Private Limited to jointly develop custom semiconductor solutions. This collaboration aligns with MIC’s product roadmap and focuses on enhancing product differentiation, performance, and long-term supply stability through co-developed custom silicon instead of using standard off-the-shelf components.
The MoU outlines a collaborative framework where Chipex acts as the chip development partner and MIC serves as the OEM partner. Both companies will jointly identify, design, and develop semiconductor solutions tailored to MIC’s specific product requirements. This partnership combines technical expertise and domain experience to create silicon solutions optimized for performance, functionality, and integration within MIC’s product portfolio.
By using co-developed proprietary silicon, MIC Electronics aims to strengthen its technological foundation. The initiative is expected to deliver improved system performance and energy efficiency across application areas, ensure long-term supply assurance, and provide design ownership — all key elements for maintaining competitiveness in global markets.
Established in 1988, MIC Electronics Limited is engaged in the design, development, and manufacturing of LED video displays, high-end electronic and telecommunication equipment, and telecom software solutions. The company holds ISO 9001:2008 and ISO 14001:2004 certifications and has a notable presence in LED display, lighting solutions, embedded systems, and communication electronics segments.
MIC’s core product line includes LED video displays for indoor, outdoor, and mobile applications, widely used in sports arenas, transportation hubs, theatres, amusement parks, advertising spaces, and public information systems. Headquartered in Hyderabad, the company maintains a nationwide network of marketing and service centers and continues to expand its footprint in international markets.
MIC has been a pioneer in LED technology and telecom solutions in India. It was the first company to receive TEC approval for its indigenously developed Digital Loop Carrier telecom equipment. Since entering the export market in 1994 and beginning onshore software contracts in 2005, MIC has consistently demonstrated innovation and technical expertise across multiple domains.
On Thursday MIC Electronics share price was trading in negative terrain. As of 10:33 am IST, the stock price was trading at ₹52.05 per share, down by 0.65%. In the last 12 months, the stock has seen a decline of 42%
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