MIC Electronics Ltd. to Acquire 89.65% Stake in Neo Semi SG Pte. Ltd. for ₹357.60 Cr.

MIC Electronics Ltd. has approved the acquisition of 71,72,090 equity shares of USD 1 each (89.65%) of Neo Semi SG Pte. Ltd. for a total consideration of ₹357.60 Cr. The acquisition will be partly through a cash component of ₹122,25,82,158 for 24,52,030 shares (30.65%) and partly by way of a non-cash component through share swap of ₹235,34,22,037 for 47,20,060 shares (59.00%). The transaction is subject to shareholders' approval by way of special resolution at the EGM scheduled to be held on April 29, 2026, and requisite regulatory approvals.