MIC Electronics, a stock that has significantly increased in value, is one of the standout performers in the Indian stock market in recent years. This small-cap company’s shares have jumped from around ₹20.55 to ₹53 each on the NSE, marking an impressive 150 percent gain in one year. Recently, MIC Electronics announced a Qualified Institutional Placement (QIP) issue at a floor price of ₹48.30 per share. The floor price is the minimum price at which shares can be sold in the QIP issue. Offering the QIP at a nearly 10 percent premium to the current market price of ₹53 per share shows the company’s confidence in its future performance.
Details of MIC Electronics QIP Issue
MIC Electronics informed the stock market exchanges about the QIP issue, stating, “After the board’s approval on September 6, 2023, and the shareholders’ special resolution via Postal Ballot on October 10, 2023, the Management Committee passed resolutions on June 12, 2024, to: a) Approve and adopt the preliminary placement document dated June 12, 2024, with the application form for the issue; b) Authorize the opening of the issue on June 12, 2024; and c) Set the floor price of ₹48.30 per equity share, based on SEBI regulations.”
MIC Electronics Share Price History
MIC Electronics shares have been a remarkable performer. From the start of this year, the stock has risen from ₹33.80 to ₹53 per share, a 55 percent increase in 2024. Over the last six months, the stock has climbed from ₹36.25 to ₹53 per share, gaining about 45 percent. Over the past year, the stock has delivered over 150 percent returns to long-term investors. In the fiscal year 2024, the stock surged from ₹18 (on March 31, 2023) to ₹53, achieving a 200 percent rise in around 14 months.
MIC Electronics is listed on both BSE and NSE, making it accessible to a wide range of investors. Its current trading volume on NSE is 6.30 lakh shares, with about an hour left in Thursday’s trading session, indicating active trading. The company’s market cap stands at ₹1,167 crore, reflecting its growing popularity and value. The stock’s 52-week high is ₹59.80 per share, and its 52-week low is ₹20.55 per share, showing its trading range over the past year.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
