Monday, December 18, 2006

MIC Electronics plans an IPO

MIC Electronics, an Hyderabad based manufacturer of LED display systems, is planning to raise close to Rs 100 crores through an IPO in first quarter of January, reported Business Standard. MIC Electronics is into media (LED display), Infotech (software) and telecommunications business

The amount raised is expected to be utilized for infrastructure development, rentals fo screens, development of 3D LED display screens and ramping up research & development amongst other things. Plans are also on to acquire Infostep, a US based company and also venture into entertainment theme park development.

Edelweiss Capital were appointed advisors to the issue which will constitute 25.34% of the company’s fully diluted post issue paid up equity capital.

Read article from Business Standard

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