MIC Electronics to Acquire Neo Semi SG Pte. Ltd. for ₹357.6 Crore via Share Swap and Cash
MIC Electronics Limited will acquire 89.65% of Neo Semi SG Pte. Ltd. for ₹357.60 crore. The deal includes a ₹122.26 crore cash component and a share swap involving up to 5,68,73,418 equity shares at ₹41.38 each. An EGM is scheduled for April 29, 2026, to approve the acquisition and a change in director designation.
The acquisition involves a substantial financial commitment and a significant change in the company's shareholding structure, which will have a material impact on the company's future operations and financial performance.
The acquisition of a significant stake in Neo Semi SG Pte. Ltd. is a strategic move that is expected to benefit MIC Electronics Limited.
MIC Electronics Limited has announced its plan to acquire 89.65% of Neo Semi SG Pte. Ltd., Singapore, for a total consideration of ₹357.60 crore. The acquisition will be partly funded through a share swap, involving the issuance of up to 5,68,73,418 equity shares of MIC Electronics at ₹41.38 per share, and partly through a cash consideration of ₹122.26 crore.
This strategic move involves acquiring 71,72,090 equity shares of Neo Semi SG Pte. Ltd. The non-cash consideration amounts to ₹235.34 crore for 59% of the shares, while the cash consideration is for the remaining 30.65% of the shares. The company has set April 29, 2026, as the date for its Extra-Ordinary General Meeting (EGM) to approve this transaction. The EGM will be held at the company's registered office in Hyderabad. Remote e-voting will commence on April 26, 2026, and conclude on April 28, 2026.
Additionally, the company will seek shareholder approval for a change in the designation of Mr. Deepayan Mohanty from Independent Director to Non-Executive Non-Independent Director, effective March 30, 2026. The relevant dates for determining the floor price for the share swap are set as March 30, 2026.
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MIC Electronics Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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