MIC Electronics Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/03/2026 ,inter alia, to consider and approve The meeting of the Board Directors ....
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MIC Electronics has called a board meeting on March 30, 2026 with a heavy agenda. The board will consider acquiring 89.65% of Singapore-based Neo Semi SG Pte. Ltd. (71,72,090 shares of USD 1 each) and 43.05% of Refit Global Private Limited (43,274 shares of Rs. 10 each), both funded through non-cash share swaps (preferential allotments to the selling shareholders). It will also consider a slump sale of the company's Lighting Division and Medical & Other Appliances Division to its subsidiary MICK Digital India Limited, with consideration discharged by equity shares of MICK Digital. Additionally, 40% of MICK Digital India is proposed to be sold to LED India Private Limited. The board will reclassify Independent Director Mr. Deepayan Mohanty as Non-Executive and Non-Independent Director, subject to shareholder approval, and call an EGM to seek shareholder nod for the above deals.
This is a significant restructuring move involving equity dilution via share swaps, a cross-border acquisition, and the hive-off of two operating divisions. Existing shareholders should expect dilution from the preferential issues and should watch the EGM vote closely as it will determine the final structure and valuation of these transactions.