MIC electronics completes investment in Dubai subsidiary

MIC Electronics Limited announced the completion of an investment process in its step-down subsidiary, Cellular Galaxy Electronics LLC, Dubai. The company's management committee noted the investment, totaling INR 53.8 crore, made by SOA Electronics Trading LLC (SOA), Dubai, a wholly-owned subsidiary of MIC Electronics. This strategic move strengthens MIC Electronics' presence in the Middle East, with Dubai's competent authority having issued the necessary approvals.

Cellular Galaxy Electronics LLC, incorporated on August 17, 2023, is involved in trading various electronic goods, including antennas, watches, photographic equipment, video game consoles, computer accessories, and mobile phones. The subsidiary acquired 99% of the paid-up capital of Cellular Galaxy Electronics LLC through this investment, which was completed on October 23, 2025.

The investment falls under a related-party transaction, with the subscription of shares conducted at arm's length price. The company confirmed that, apart from the mentioned relationship, the promoter, promoter group, or group companies have no other interest in the transaction.