MIC Electronics Limited — Important, 30-12-2024: Updates

The management committee of MIC Electronics Limited has confirmed the completion of a ₹51 crore investment in its wholly owned subsidiary, SOA Electronics Trading LLC, in Dubai. This investment translates to 22,408 equity shares at face value of AED 1,000 each. The establishment aims to operate within the electrical and electronic appliances spare parts trading industry. All requisite documents and approvals from Dubai's competent authority have been successfully obtained. This strategic investment enhances MIC’s operational presence in the UAE and could serve as a potential growth avenue in the expanding electronics market, signaling a positive outlook for stakeholders.