Hyderabad-based MIC Electronics has decided to raise an amount of Rs 218.96 crore by issuing warrants to various promoters, non-promoters and from international markets.

It should be noted that the board of directors has already approved to raise short/ long-term resources from domestic and international markets.

The company would offer 93,75,000 warrants at Rs 44.36 per share amounting to Rs 41.58 crore and would further issue 71,25,000 warrants at Rs 44.36 a piece, aggregating to Rs 31.60 crore to various promoters and non-promoters.

Further, the company would raise $30 million (nearly 145.77 crore) by issuing Global Depository Receipts (GDRs) and American Depository Receipts.

MIC Electronics Limited engages in the design, development, and manufacture of light emitting diode (LED) video displays, and electronic and telecommunication equipment. It also involves in the development of telecom software.

The scrip of the company today settled the day at Rs 51 on BSE. The counter has made 52-week-high and low of Rs 147 and Rs 14 respectively.