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MIC Electronics Ltd.
Capital Goods₹36.434.99%
24 Jul, 4:01 PM
CMP₹36.43
Mkt Cap₹880 Cr
P/E0.00
P/B4.07
ROE8.63%
52W High₹82.82
52W Low₹30.00
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Sector Overview
Capital GoodsElectric Equipment
MIC Electronics Ltd. operates in the Capital Goods sector under the Electric Equipment industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.
Corporate Actions
Board Meeting2026-04-21 Audited Results
Substantial Acquisition of Shares2026-03-30 Preferential Issue of shares Inter alia, considered and approved/deferred the following matters: 1. Acquisition of 71,72,090 equity shares of USD 1 each (89.65%) of M/s. Neo Semi SG Pte. Ltd., Singapore. The Board has approved the acquisition of 71,72,090 equity shares of USD 1 each (89.65%) of M/s. Neo Semi SG Pte. Ltd. ("Neo"), a Singapore-incorporated deep-tech platform company, from its selling shareholders for a total consideration of ?357.60 Cr. (consisting of partly by way of cash component of ?122,25,82,158 for 24,52,030 shares (30.65%) out of 71,72,090 acquisition shares of Neo and partly by way of non-cash component through share swap of ?235,34,22,037 for 47,20,060 shares (59.00%) out of 71,72,090 acquisition shares of Neo), (the decimals, if any, have been rounded off to nearest ?One) subject to shareholders' approval by way of special resolution at the EGM scheduled to be held on April 29, 2026, and requisite regulatory approvals. (Detailed disclosures are as mentioned in Annexure A.) 2. Preferential Issuance of up to 5,68,73,418 Equity Shares of the Company for Consideration Other Than Cash (in connection with Neo Transaction). The Board has approved the issue and allotment 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), aggregating ?235,34,22,037, on a preferential basis for consideration other than cash (based on the share swap ratio of 12.0493), to Neo selling shareholders (Ebisu, Unico and Tavas), subject to shareholders' approval by way of special resolution at the EGM scheduled to be held on April 29, 2026 and requisite regulatory approvals 3. Deferment of acquisition of 43,274 equity shares of ?10 each (43.05%) of M/s. Refit Global Private Limited; & 4. Deferment of Preferential Issuance of Equity Shares of the Company for Consideration Other Than Cash to M/s. Refit Global Private Limited (Refit Transaction) The Board noted that the investors (Refit Global selling shareholders/promoters) are currently evaluating various equity structuring options and certain key commercial terms, including the Shareholders? Agreement, are under discussion and yet to be finalised. Further alignment among stakeholders is required, and accordingly, the Board decided to defer the matter of acquisition of 43,274 equity shares of ?10 each (43.05%) of M/s. Refit Global Private Limited and preferential issuance of equity shares in connection with the Refit Transaction to a future meeting. 5. Change in Designation of Mr. Deepayan Mohanty (DIN: 00196042). The Board has approved the change in designation of Mr. Deepayan Mohanty from Independent Director to Non-Executive Non-Independent Director (with immediate effect) for his remaining tenure, subject to shareholders' approval at the EGM scheduled to be held on April 29, 2026. (Detailed disclosures are in Annexure B.) 6. Extra Ordinary General Meeting (EGM) - Date, Venue and Draft Notice. The Board has approved convening the EGM to be held physically on Wednesday, April 29, 2026 at 11:45 A.M. at the Registered Office of the Company at Plot No. 192/B, Phase-II, IDA, Cherlapally, Medchal-Malkajgiri (Rangareddy) District, Hyderabad, Telangana - 500051, for seeking shareholders? approval by way of special resolutions in respect of agenda items (1) and (2) and ordinary resolution in respect of item (3). The Board has approved the draft EGM Notice. 7. Appointment of Scrutinizer for EGM. The Board has approved the appointment of Mr. Y Ravi Prasada Reddy, Proprietor of M/s. RPR & Associates, Practicing Company Secretaries, as the Scrutinizer for the EGM to conduct the remote e-voting and voting through ballot/poll process 8. Disposal and transfer of 20,000 Equity Shares (40%) of M/s. MICK Digital India Limited held by the Company to M/s. LED India Private Limited. The Board has approved the disposal and transfer of 20,000 equity shares of ?10 each (40% of paid-up capital) of M/s. MICK Digital India Limited held by the Company to M/s. LED India Private Limited, for a total consideration of ?2,00,000 at ?10 per share (FMV under Rule 11UA obtained from M/s. Bhargavi Priya and Associates, Chartered Accountants, FRN: 021428S). Posttransfer: M/s. MIC Electronics Limited will have the holding of 60% in MICK Digital India Limited 9. Hiving Off of 1) Lighting Division and 2) Medical and Other Appliances Division to M/s. MICK Digital India Limited by way of Slump Sale. The Board has approved the hiving off / transfer of the 1. Lighting Division and 2. the Medical and Other Appliances Division as going concern undertakings to M/s. MICK Digital India Limited by way of slump sale under a Business Transfer Agreement (BTA), for a total lump sum consideration of ?8,00,00,000 [?4,00,00,000 per Division], as per the Valuation Reports of M/s. Bhargavi Priya And Associates, Registered Valuer (IBBI), Registration No. IBBI/RV/02/2019/11762, and M/s. Akasam Consulting Private Limited, SEBI Registered Merchant Banker, Registration No. INM000011658, respectively, to be discharged by allotment of 80,00,000 fully paid-up equity shares of ?10 each by M/s. MICK Digital India Limited to the Company. The transaction does not require shareholders' special resolution under Section 180(1)(a) of the Companies Act, 2013 (each Division's investment and revenue individually below 20% threshold). Shareholders' approval for the related party transaction under Section 188 was obtained on January 9, 2025. The said Board approval is subject to approval/NOC from bankers and other applicable statutory/regulatory approvals. 10. Authorization to Managing Director for execution of Agreements The Board has authorized Mr. Kaushik Yalamanchili, Managing Director (DIN: 07334243), to negotiate, finalize, execute, sign and deliver the Share Acquisition and Share Swap Agreement (SASSA), Shareholders Agreement, Share Transfer Form/Instruction Slip, Business Transfer Agreement (BTA) and all other ancillary agreements, documents and instruments as may be required.
Substantial Acquisition of Shares2026-03-24 Preferential Issue of shares & Inter alia, to consider and, if thought fit, to approve the following matters:- 1. Acquisition of 89.65% (i.e. 71,72,090 equity shares of USD 1 each) of the paid-up share capital of Neo Semi SG Pte. Ltd., Singapore, from its shareholders, along with preferential issue of equity shares of the Company on non-cash basis (share swap) to the Neo selling shareholders; 2. Acquisition of 43.05% ( i.e. 43,274 equity shares of Rs. 10/- each) of Refit Global Private Limited from its shareholders, along with related preferential issue of equity shares of the Company on non-cash basis (share swap) to the Refit selling shareholders; 3. Change in designation of Mr. Deepayan Mohanty (DIN: 00196042) from Independent Director to Non-Executive and Non-Independent Director for his remaining tenure, subject to shareholders' approval; 4. Approval to fix the date, time and venue of the Extra Ordinary General Meeting (EGM) and approval of the draft EGM Notice for obtaining shareholders' approval for the above acquisitions and preferential issues; 5. Appointment of Scrutinizer for the proposed EGM; 6. Approval for transfer of 20,000 (Twenty Thousand) equity shares (40%) held by the Company in MICK Digital India Limited, a subsidiary company to LED India Private Limited; 7. Approval for hiving off / transfer of the Lighting Division and the Medical and Other Appliances Division of the Company to MICK Digital India Limited by way of a slump sale under a Business Transfer Agreement for a total lump sum consideration and the said consideration will be discharged by allotment of equity shares by MICK Digital India Limited (i.e. Transferee company); 8. Authorization to Mr. Kaushik Yalamanchili, Managing Director, for negotiation, execution and signing of all definitive agreements and ancillary documents relating to the above transactions; and 9. Any other business with the permission of the Chairman
Board Meeting2026-03-24 Preferential Issue of shares & Inter alia, to consider and, if thought fit, to approve the following matters:- 1. Acquisition of 89.65% (i.e. 71,72,090 equity shares of USD 1 each) of the paid-up share capital of Neo Semi SG Pte. Ltd., Singapore, from its shareholders, along with preferential issue of equity shares of the Company on non-cash basis (share swap) to the Neo selling shareholders; 2. Acquisition of 43.05% ( i.e. 43,274 equity shares of Rs. 10/- each) of Refit Global Private Limited from its shareholders, along with related preferential issue of equity shares of the Company on non-cash basis (share swap) to the Refit selling shareholders; 3. Change in designation of Mr. Deepayan Mohanty (DIN: 00196042) from Independent Director to Non-Executive and Non-Independent Director for his remaining tenure, subject to shareholders' approval; 4. Approval to fix the date, time and venue of the Extra Ordinary General Meeting (EGM) and approval of the draft EGM Notice for obtaining shareholders' approval for the above acquisitions and preferential issues; 5. Appointment of Scrutinizer for the proposed EGM; 6. Approval for transfer of 20,000 (Twenty Thousand) equity shares (40%) held by the Company in MICK Digital India Limited, a subsidiary company to LED India Private Limited; 7. Approval for hiving off / transfer of the Lighting Division and the Medical and Other Appliances Division of the Company to MICK Digital India Limited by way of a slump sale under a Business Transfer Agreement for a total lump sum consideration and the said consideration will be discharged by allotment of equity shares by MICK Digital India Limited (i.e. Transferee company); 8. Authorization to Mr. Kaushik Yalamanchili, Managing Director, for negotiation, execution and signing of all definitive agreements and ancillary documents relating to the above transactions; and 9. Any other business with the permission of the Chairman
MICEL
₹36.43
+4.99%