Mumbai (Maharashtra) [India], February 13: MIC Electronics Limited has announced that it has entered into a Memorandum of Understanding (MoU) with Refit Global Private Limited to explore potential strategic opportunities, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally notified the stock exchanges and submitted all requisite disclosures, marking the beginning of a collaborative engagement between the two organizations.
The proposed collaboration is aimed at evaluating a range of strategic transaction possibilities, including investment through equity, debt or hybrid instruments, acquisition of shares, assets or business, share swaps, preferential issues, or other mutually agreed structures. By combining MIC Electronics' decades of large-scale manufacturing expertise, global technology delivery capabilities, deep institutional relationships, and financial strength with Refit Global's advanced refurbishment platforms, certified supply chains, and strong B2C market penetration, the partnership seeks to build a next-generation circular electronics ecosystem. This initiative is expected to support sustainable growth, accelerate digital inclusion, and unlock significant value across the refurbished electronics value chain.
The company clarified that the proposed transaction is subject to completion of due diligence, regulatory approvals, and internal clearances. MIC Electronics confirmed that it currently holds no shareholding in Refit Global, and that the parties are not related entities. The MoU does not grant special rights such as board representation or restrictions on capital structure. The company also stated that it will make appropriate disclosures to the stock exchanges in the event of any amendment or termination of the agreement, in line with regulatory requirements.
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