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I wonder if DAKT runs into these guys as competition?

April 26, 2007...An LED video display company has appeared on our LED news radar at LIGHTimes. Mic Electronics of India, a maker of LED video display systems will have its initial public offering on April 30, 2007. The initial public offering will include 5,100,000 Equity Shares of Rs 10 for cash at a price to be decided through the 100% book-building process for listing on both Bombay Stock Exchange (“BSE”) Limited and National Stock Exchange (“NSE”) Limited. The Price Band for the Offer has been fixed between Rs 129 per share and Rs 150 per Equity Share for IPO opening on April 30, 2007, and closing on May 8, 2007. The public offer constitutes 25.34% of the Company's fully diluted post issue paid up equity capital.

In addition to designing, developing and producing True Colour LED video Display Systems, the company also produces telecom software solutions and communication equipment such as digital loop carrier on optical fibre including voice, video/data applications, and hand held Computers. MIC is according to the company, the only Company in India to have the “Design-to-Manufacture” capability for the manufacture of LED Video Display Systems.

Dr. M. V. Ramana Rao, MD, MIC Electronics, said, “The objects of the issue includes setting up additional facilities for manufacturing LED (Light Emitting Diodes) video modules and acquisition of Infostep Inc., in USA.” He added, “MIC has a presence in the LED display market internationally, with a customer base including the advertising agencies, LED rental companies, telecom equipment spenders BSNL and MTNL. MIC is now further strengthening its footprint internationally.”
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