MIC Electronics Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for the preferential issue of equity shares. The approval is for the issuance of 5,68,73,418 (Five Crore Sixty-Eight Lakh Seventy-Three Thousand Four Hundred and Eighteen) equity shares of face value ₹2 each.
The shares will be issued at a price of not less than ₹41.38 per share to non-promoters through a share swap arrangement. This issuance is being made pursuant to Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Approval Details
- BSE Limited approval: Letter no. LOD/PREF/MV/FIP/704/2026-27 dated August 25, 2026
- National Stock Exchange of India Limited approval: Letter no. NSE/LIST/54442 dated August 25, 2026
Transaction Purpose
The share issuance is towards the acquisition of M/S. Neo Semi Sg PTE. Ltd, Singapore.
Next Steps
The company will complete the allotment of the equity shares within 15 days from the date of this disclosure, subject to:
- Receipt of Neo shares from the proposed allottees by way of share transfer(s)
- Completion of other procedural compliances