MIC Electronics Issues Corrigendum to EGM Notice Following NSE Observations on Share Swap Transaction

MIC Electronics Limited has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice following observations from the National Stock Exchange of India Limited, adding crucial disclosures for a proposed share swap transaction. The corrigendum, dated April 16, 2026, addresses regulatory requirements for the company's planned acquisition of a majority stake in a Singapore-based entity.

EGM Details and Transaction Overview

The company had originally issued an EGM notice on March 30, 2026, for a meeting scheduled on April 29, 2026, at 11.45 A.M. IST at its registered office in Hyderabad. The primary agenda involves seeking shareholder approval for the preferential issuance of equity shares in connection with an acquisition.

Transaction Parameter:	Details
Equity Shares to be Issued:	5,68,73,418 shares
Issuance Basis:	Preferential, for consideration other than cash
Target Company:	Neo Semi SG Pte. Ltd., Singapore
Acquisition Stake:	47,20,060 equity shares (59%)
Transaction Structure:	Share swap arrangement

NSE Observations and Regulatory Compliance

Following the original EGM notice, NSE provided certain observations on April 15, 2026, prompting the company to issue this corrigendum. The amendments ensure compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable provisions of the Companies Act, 2013.

The corrigendum specifically addresses Point W in the 'Other Disclosures' section of the original EGM notice, adding important clarifications about the company's regulatory standing.

Key Disclosure Additions

The corrigendum includes a significant addition to the regulatory disclosures:

The company, its promoters, and directors have not been categorized as wilful defaulters by any bank, financial institution, or consortium thereof, in accordance with Reserve Bank of India guidelines
They have not been categorized as fraudulent borrowers
Accordingly, disclosures required under Regulation 163(1)(i) of SEBI (ICDR) Regulations, 2018 are not applicable

Communication and Accessibility

The corrigendum has been dispatched electronically to all company members whose email addresses are registered with the company or their depository participants. The document is also available on the company's website at www.mic.co.in and will be filed on BSE and NSE websites for stakeholder access.

Communication Details:	Information
Dispatch Date:	April 16, 2026
Distribution Method:	Electronic to registered email addresses
Website Availability:	Company and stock exchange websites
Regulatory Filing:	Under Regulation 30 of SEBI LODR

The corrigendum forms an integral part of the original EGM notice and must be read in conjunction with it. All other contents of the original notice remain unchanged except for the specific amendments outlined in this corrigendum. Company Secretary Lakshmi Sowjanya Alla has signed the document, emphasizing the company's commitment to regulatory compliance and transparent communication with stakeholders.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.32%	+10.92%	+33.20%	-23.57%	-28.25%	+188.01%

MIC Electronics Limited has announced significant contract wins from two Indian Railways divisions, with combined orders valued at Rs. 2.21 crores. The company disclosed these developments under Regulation 30 of the SEBI (LODR) Regulations, 2015, highlighting its continued expansion in the railway infrastructure sector.

Central Railway Contract Details

The company received a Letter of Acceptance from the Signal and Telecommunication (S&T) department of Nagpur Division, Central Railway (CR) Zone for a comprehensive telecom infrastructure project. This contract involves supply, installation, testing and commissioning of telecom assets and passenger amenities Integrated Passenger Information System (IPIS) at Wardha station.

Parameter:	Details
Contract Value:	Rs. 1,12,14,148.93
Awarding Authority:	Nagpur Division, Central Railway Zone
Project Scope:	Telecom assets/Passenger amenities IPIS at Wardha station
Execution Timeline:	6 Months
Award Date:	April 15, 2026, at 12:35 P.M.

Southern Railway Project Award

MIC Electronics also secured a variation order from Salem Division, Southern Railway (SR) Zone under the prestigious Amrit Bharat Scheme. This project encompasses passenger information systems across multiple railway stations with an extended maintenance component.

Parameter:	Details
Contract Value:	Rs. 1,09,45,604
Awarding Authority:	Salem Division, Southern Railway Zone
Project Coverage:	Tirupattur, Samalpatti, Morappur, Bommidi, Salem stations
Maintenance Period:	5 Years CAMC
Award Date:	April 16, 2026, at 9:41 A.M.

Contract Characteristics and Compliance

Both contracts represent domestic orders awarded through competitive tender processes. The company confirmed that neither contract involves related party transactions, and no promoter or promoter group companies have any interest in the awarding entities. The terms and conditions for both projects will be finalized during the execution of respective agreements.

The disclosure demonstrates MIC Electronics' strong positioning in the railway telecommunications and passenger information systems segment, with projects spanning across different railway zones and incorporating both immediate infrastructure deployment and long-term maintenance services.