In continuation to letter dated March 12, 2022, MIC Electronics has informed that MIC Electronics has completed the investment by way of subscribing towards 10,40,300 equity shares of Bikewo Green Tech (formerly known as Right Automobiles) ('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.
The above information is a part of company’s filings submitted to BSE.
