MIC Electronics Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on April 29, 2026

Board & Shareholder Meetings View source PDF

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₹41.90

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AI summary

MIC Electronics Limited has issued a corrigendum to its EGM notice following observations received from NSE on April 15, 2026. The EGM seeks shareholder approval for a preferential share issuance of up to 56,873,418 equity shares (consideration other than cash) as part of a share swap to acquire 59% stake in Neo Semi SG Pte. Ltd., Singapore. The corrigendum adds a disclosure confirming that the Company, its Promoters, and Directors have not been categorized as wilful defaulters or fraudulent borrowers by any bank or financial institution under RBI guidelines. This amendment addresses SEBI ICDR Regulation 163(1)(i) disclosure requirements. The corrigendum was dispatched electronically to all registered shareholders on April 16, 2026.

Likely market impact

Shareholders should review this updated information before voting on the resolution at the April 29 EGM. The additional disclosure confirms no red flags from lenders, which is a key prerequisite for the preferential share issuance under SEBI regulations.