Hyderabad-headquartered MIC Electronics acquires 59% stake in Neo Semi

Hyderabad-based MIC Electronics has completed the acquisition of a 59% stake in Singapore’s Neo Semi SG through a share-swap transaction. The deal involves allotment of 5.68 crore equity shares and expands MIC Electronics’ presence in deep-tech and emerging technologies.

Hyderabad: Hyderabad-headquartered MIC Electronics Limited has completed the acquisition of a 59% stake in Singapore-based Neo Semi SG Pte Ltd through a share-swap transaction, marking an important step in the company’s strategic expansion into emerging technology-led opportunities.

As part of the transaction, MIC Electronics has allotted 5.68 crore equity shares to the selling shareholders of Neo Semi SG as consideration for the acquisition. The allotment follows the in-principle approvals received from BSE Limited and the National Stock Exchange of India Limited (NSE).

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Neo Semi SG is a Singapore-incorporated deep-tech platform engaged in semiconductor IP creation, AI-driven energy logistics, IoT-based smart-grid solutions and circular electronics.

Rakshit Mathur, CEO of MIC Electronics, said, “The transaction strengthens our focus on technology-led opportunities and represents a meaningful step in our strategic expansion.”

The completion of the share-swap transaction follows the regulatory approvals and allotment process undertaken by MIC Electronics, taking the proposed acquisition into its completed stage.