Acquisitions4 Sept 2026, 12:19 pm
MIC Electronics Allots 5.68 Cr Shares for Neo Semi SG Acquisition
AI Summary
MIC Electronics Ltd announced the allotment of 5,68,73,418 equity shares of face value ₹2 each on a preferential basis. This allotment is for consideration other than cash, towards the acquisition of 59% of M/s. Neo Semi SG Pte. Ltd. from Ebisu Global Opportunities Fund, Unico Global Opportunities Fund, and Tavas Advisory & Consulting. The transaction was approved by shareholders in an EGM on April 29, 2026. Following the allotment, the company's issued and paid-up capital has increased. The newly allotted shares will rank pari passu with existing equity shares.
Key Highlights
- Allotted 5.68 Cr equity shares on preferential basis.
- Consideration is non-cash for acquiring 59% of Neo Semi SG Pte. Ltd.
- Acquisition is from Ebisu, Unico, and Tavas.
- Issued and paid-up capital increased post-allotment.
- New shares rank pari passu with existing equity shares.
Price Impact
More from MICEL