Mirc Electronics EGM: CEO gets 2.95 Cr ESOPs; company to be Onida Electronics

Mirc Electronics Ltd shareholders approved two special resolutions at an Extra-Ordinary General Meeting on April 29, 2026. The first resolution grants 2,95,00,000 Employee Stock Options to CEO Mr. Gunjan Srivastava under the MIRC Employee Stock Option Plan 2023. This includes 90,00,000 time-based options vesting over five years at an exercise price of ₹11.40, and 2,05,00,000 performance-based options linked to cumulative operating EBITDA targets (₹100 Cr for FY27-FY30 and ₹400 Cr for FY27-FY32) at an exercise price of ₹16.81. The second resolution approves changing the company's name from "MIRC Electronics Limited" to "Onida Electronics Limited" to align with its flagship brand, enhance recall, and eliminate market confusion. The name change will be effective upon receiving a fresh Certificate of Incorporation from the Registrar of Companies.