MIC Electronics Allots 5.69 Crore Shares; Stock Falls 1.97%

Mumbai September, 04: MIC Electronics Limited has allotted 5,68,74,816 equity shares on a preferential basis as part of the consideration for acquiring a 59% stake in Neo Semi SG Pte. Ltd.

According to the regulatory filing, the company’s board approved the allotment at its meeting on September 4, 2026, following shareholder approval at the Extraordinary General Meeting held on April 29, 2026.

The shares have a face value of ₹2 each and were issued to non-selling shareholders as consideration other than cash. The allotment is linked to the acquisition of 59% of the ordinary share capital of Neo Semi SG from Ebisu Global Opportunities Fund Limited, Mauritius, Unico Global Opportunities Fund Limited, Mauritius, and M/s Tavas Advisory & Consulting (FZE), United Arab Emirates.

The newly allotted shares will rank pari passu with MIC Electronics’ existing equity shares.

Stock Market Snapshot

The MIC Electronics share price was at ₹36.74 as of 12:14 PM IST on September 4, 2026, down ₹0.74, or 1.97%, from the previous close of ₹37.48, according to the market data shown.

The stock opened at ₹36.74 and remained at that level in the available market update. The day’s high and low were also shown at ₹36.74 at the time of the update.

The share movement came on the same day that the company disclosed completion of the preferential allotment, which substantially increases its issued and paid-up equity share capital.

Equity Capital Rises To Nearly ₹59.58 Crore

Following the allotment, MIC Electronics’ issued, subscribed and paid-up equity capital increased from 24,10,11,560 shares to 29,78,84,978 shares.

On a face-value basis of ₹2 per share, the equity share capital rose from ₹48.20 crore to approximately ₹59.58 crore.

The company said the allotment was made in accordance with Regulation 30 and the relevant provisions of the SEBI Listing Regulations and the applicable SEBI circular.

The board meeting began at 11:30 AM and concluded at 12:10 PM on September 4, 2026.

Preferential Issue Linked To Strategic Acquisition

The latest allotment is not a conventional cash fundraising exercise. The shares have been issued as non-cash consideration for the acquisition of the 59% stake in Neo Semi SG.

This structure allows MIC Electronics to settle part of the acquisition consideration through equity rather than an immediate cash payment. The transaction also brings a new shareholding component into the company’s capital structure.

The filing states that the transaction was approved by shareholders as part of the preferential issue process.

MIC Electronics Expands Its Business Through Acquisition

MIC Electronics operates in the technology and electronics space, with its business interests spanning areas such as LED-based products, display systems and related electronic solutions.

The company has also pursued business expansion through strategic initiatives and acquisitions. The Neo Semi SG transaction represents another step in that direction, with the preferential allotment now giving effect to the non-cash consideration component.

The increase in equity capital means the company’s share count is materially higher following the latest allotment.

Conclusion

MIC Electronics has completed the allotment of 5,68,74,816 equity shares on a preferential basis as consideration for acquiring a 59% stake in Neo Semi SG.

Following the allotment, the company’s issued and paid-up share capital increased to 29,78,84,978 equity shares, from 24,10,11,560 shares earlier.

Meanwhile, the MIC Electronics share price stood at ₹36.74 as of 12:14 PM IST on September 4, 2026, down 1.97% from the previous close.

Source:

• https://www.nseindia.com/get-quote/equity/MICEL/MIC-Electronics-Limited
• https://nsearchives.nseindia.com/corporate/MICEL_04092026122106_Intimation_under_Regulation_Allotment_.pdf