Unico Global Opportunities Fund raises MIC Electronics stake to 8.10 per cent through share swap

Unico Global Opportunities Fund Limited has increased its stake in MIC Electronics Limited to 8.10 per cent through a preferential allotment issued for non-cash consideration under a share-swap arrangement.

The Mauritius-incorporated foreign body corporate acquired 5,00,000 equity shares in the allotment made on September 3, 2025. Its aggregate holding consequently rose from 2,36,16,929 shares, representing 7.93 per cent of MIC Electronics’ total and diluted share capital, to 2,41,16,929 shares.

The incremental purchase lifted Unico’s stake by 0.17 percentage points. The shares allotted carry a face value of Rs 1 each, according to the disclosure filed under Regulation 29(1) of the SEBI Takeover Regulations.

The transaction stems from a Share Acquisition and Share Swap Agreement dated March 20, 2025. MIC Electronics completed the preferential issue after receiving shareholder approval and in-principle approvals from BSE and the National Stock Exchange of India, the filing said.

While the disclosure does not specify the valuation or the assets exchanged in the share swap, the use of non-cash consideration distinguishes the transaction from a conventional fund infusion. The allotment has raised the investor’s ownership interest without indicating fresh cash proceeds for the company in the filing.

Unico is not part of MIC Electronics’ promoter or promoter group, the company said. The disclosure was signed by Unico director Rajendra Bhatt on October 12, 2025.

The stake increase comes as MIC Electronics pursues growth across Railway information and signalling systems, LED display products, EV charging infrastructure and power electronics. The company’s operations are substantially linked to project execution and public-sector tenders, particularly in railway and urban infrastructure applications.

In FY2025-26, MIC Electronics reported consolidated revenue of Rs 190.52 crore, compared with Rs 94.76 crore in the previous year, based on supplied historical financial data. However, it reported a consolidated loss attributable to shareholders of Rs 12.78 crore for the year. The annual report attributed the standalone loss largely to deferred-Tax-asset utilisation and reversal, while also citing higher finance costs.

Working-capital management remains an important factor for the company, whose business is exposed to tender cycles and collections from government-linked customers. Consolidated trade receivables stood at Rs 195.89 crore as of March 31, 2026, while cash and cash equivalents were Rs 28.88 lakh.

As of 2:17 pm on October 13, 2026, MIC Electronics shares were trading at Rs 35.35. The stock was down 2.40 per cent from its previous close of Rs 36.22 and was about 38.0 per cent below its 52-week high of Rs 57.06. Over the preceding year, the stock declined 36.47 per cent, compared with a 6.29 per cent decline in the BSE 500, underperforming the benchmark by about 30.18 percentage points.

MIC Electronics is listed on BSE under scrip code 532850 and on NSE under the symbol MICEL.

Disclaimer: The article is for informational purposes only and not investment advice.