29-07-2025
MIC Electronics Signs Strategic MOU with Singapore-Based Neo Semi SG to Explore Entry into Semiconductor & AI Energy Sectors
MIC Electronics Limited (BSE: 532850 | NSE: MICEL), a public-listed company with a strong legacy in smart infrastructure and electronics manufacturing, has signed a preliminary, non-binding Memorandum of Understanding (MOU) with Neo Semi SG Pte. Ltd., a Singapore-based deep-tech platform company. This strategic collaboration signals MIC's entry into fast-evolving, innovation-led sectors including semiconductor IP, AI-driven energy logistics, and circular electronics.
Speaking on the announcement, Rakshit Mathur, CEO of MIC Electronics, said, 'This MOU is not just a strategic move, it is a commitment to India's future. By aligning with Neo Semi's deep-tech capabilities and global IP-led platforms, MIC aims to lead the next phase of smart and sustainable technology manufacturing in India. This is in step with India's ambitions to emerge as a global semiconductor and energy innovation powerhouse, and we are proud to be playing a catalytic role in that journey.'
The MOU comes at a time when India is accelerating its push toward self-reliance in electronics and renewable energy under flagship initiatives such as Make in India and Aatma Nirbhar Bharat. MIC's move is aligned with the national agenda to strengthen indigenous capabilities in high-technology domains and foster a future-ready manufacturing ecosystem. Through this partnership, MIC aims to tap into next-generation technologies that promote digital inclusion, sustainability, and global competitiveness.
Neo Semi SG operates across Singapore, the UAE, India, and the U.S., and is focused on advanced semiconductor IP development through global tech collaborations, AI-powered clean energy logistics, and circular electronics via sustainable recommerce platforms. According to industry estimates, these sectors present a combined global opportunity of over USD 50 billion by FY28.
The proposed collaboration seeks to combine Neo Semi's innovation engine and global IP platforms with MIC's execution strength, robust public-sector delivery experience, and its 100,000 sq. ft. certified manufacturing base. Together, the two entities aspire to create a unique Indo-global platform for rapid go-to-market deployment of scalable, ESG-compliant technologies.
Under the terms of the MOU, MIC Electronics will have exclusive negotiation rights for 90 days. During this period, both parties will engage in detailed due diligence, financial evaluation, and explore the structuring of definitive agreements. The MOU is non-binding in nature, except for clauses relating to confidentiality and exclusivity. Any future transaction will be subject to board approvals, regulatory consents, and the successful execution of binding agreements.
This disclosure is being made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Investors are advised that the current MOU should not be construed as a firm commitment or assurance of a completed acquisition.
