MIC ELECTRONICS LTD. - 532850 - Announcement under Regulation 30 (LODR)-Updates on Acquisition
In continuation to our letter dated March 12, 2022, this is to inform that MIC Electronics Limited ('MIC') has completed the investment by way of subscribing towards 10,40,300 equity shares of Bikewo Green Tech Private Limited (formerly known as Right Automobiles Private Limited) ('Bikewo'). Bikewo has completed the allotment of 10,40,300 equity shares to MIC on March 30, 2022 and thereby MIC is holding 50.99% paid-up share capital and management control of Bikewo. MIC investment value in Bikewo is Rs. 3,32,89,600/-.05-04-2022