MIC Electronics Ltd. Approves Acquisition of 89.65% Stake in Neo Semi SG Pte. Ltd. for ₹357.60 Cr.

MIC Electronics Ltd. has approved the acquisition of 89.65% equity shares of USD 1 each of Neo Semi SG Pte. Ltd., a Singapore-incorporated deep-tech platform company, from its selling shareholders for a total consideration of ₹357.60 Cr. The acquisition will be partly by way of cash component of ₹122,25,82,158 for 30.65% out of 71,72,090 acquisition shares and partly by way of non-cash component through share swap of ₹235,34,22,037 for 59.00% out of 71,72,090 acquisition shares. The acquisition 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.