MIC Electronics Ltd. Approves Acquisition of 89.65% Stake in Neo Semi SG Pte. Ltd. for ₹357.60 Cr. and Preferential Issuance of Equity Shares

MIC Electronics Ltd. announced that its Board of Directors approved the acquisition of 89.65% equity shares of USD 1 each in Neo Semi SG Pte. Ltd., a Singapore-incorporated deep-tech platform company, for a total consideration of ₹357.60 Cr. The acquisition will be partly through a cash component of ₹122,25,82,158 for 30.65% of the shares and partly through a non-cash component via a share swap of ₹235,34,22,037 for 59.00% of the shares. The acquisition is subject to shareholders' approval by way of special resolution at the EGM scheduled for April 29, 2026, and requisite regulatory approvals. Additionally, the Board approved the preferential issuance of up to 5,68,73,418 fully paid-up equity shares of face value ₹2 each at ₹41.38 per share (including a premium of ₹39.38 per share) to Neo selling shareholders, subject to the same conditions.