Hyderabad: MIC Electronics has completed the acquisition of a 59% stake in Neo Semi SG Pte. Ltd., a Singapore-based deep-tech company, through a share-swap transaction.
The acquisition marks an important step in MIC Electronics’ 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).
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.
The company operates through subsidiaries in India and the UAE.
Commenting on the development, Rakshit Mathur, CEO of MIC Electronics, said, “The completion of the acquisition of a 59% stake in Neo Semi SG marks an important milestone for MIC Electronics.
The transaction strengthens our focus on technology-led opportunities and represents a meaningful step in our strategic expansion. We look forward to building on this development as we continue to pursue opportunities that can contribute to our long-term growth.”
The completion of the Neo Semi SG share-swap transaction follows the regulatory approvals and allotment process undertaken by MIC Electronics, taking the proposed acquisition into its completed stage.
The acquisition gives MIC Electronics a controlling 59% stake in Neo Semi SG, whose business activities span semiconductor intellectual property, AI-driven energy logistics, IoT-enabled smart-grid solutions and circular electronics.
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With the completion of the transaction, Neo Semi SG becomes part of MIC Electronics’ strategic expansion into technology-led opportunities.
The company has completed the share allotment to the selling shareholders in accordance with the share-swap arrangement.
The transaction involved the allotment of 5.68 crore equity shares of MIC Electronics, following in-principle approvals from BSE Limited and NSE.
The completion of the acquisition of Neo Semi SG comes after the regulatory approval and share-allotment process.
