MIC Electronics Limited has announced that it has entered into a Memorandum of Understanding (MoU) with Singapore-based Top2 PTE Limited to explore and finalize a semiconductor fabrication partner from Taiwan.
Key details of the MoU
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Under the agreement, Top2 PTE Limited will work with MIC to identify and engage a Taiwanese semiconductor fab partner.
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The objective is to initiate semiconductor wafer production with a monthly target capacity of 25,000–30,000 wafers, subject to feasibility, negotiations, and regulatory approvals.
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The agreement does not involve any shareholding, board rights, or related-party transactions.
Significance
The move marks a strategic shift for MIC Electronics, traditionally known for its display and lighting solutions, as it ventures into the semiconductor manufacturing ecosystem. With India pushing its semiconductor mission to boost domestic chip capacity, the collaboration could help strengthen the company’s positioning in the sector.
Compliance note
The company clarified that there are no special rights or capital structure changes involved in the MoU, and it is not categorized as a related-party transaction.
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