MIC Electronics Limited has signed a Memorandum of Understanding with Refit Global Private Limited to explore entering the refurbished and circular electronics market as a potential new business area. The companies have moved to a term sheet stage, with valuation discussions completed and due diligence nearing completion. If finalised, the deal would mark MIC Electronics’ expansion into a fast-growing segment while maintaining financial and regulatory discipline.
MIC Electronics is looking to diversify beyond infrastructure projects by using its manufacturing, testing, and supply-chain expertise in related electronics services. The refurbished electronics space aligns with the company’s long-term plans by extending product lifecycles, supporting sustainability efforts, and improving access to affordable technology.
The evaluation covers consumer and enterprise devices, supply-chain integration, resale models, asset recovery programmes, reverse logistics, and export opportunities. The goal is to assess scalable and compliant operating models.
Refit Global brings experience in sourcing, testing, grading, and distributing refurbished electronics, while MIC Electronics contributes manufacturing infrastructure, quality systems, and market access. Together, they are studying integrated refurbishment and distribution models. CEO Rakshit Mathur said the discussions are part of MIC Electronics’ effort to identify growth opportunities that are both scalable and sustainable.
Next steps include final due diligence, transaction structuring, regulatory checks, and internal approvals. No binding agreement has been signed yet. Demand for refurbished electronics is rising in India and worldwide due to shorter device replacement cycles, growing interest in affordable technology, and stronger focus on e-waste management. The potential partnership aims to support these trends while creating long-term business value. The proposed deal is being advised by Bestvantage Mergerbay, the advisory division of Bestvantage Investments.
Headquartered in Hyderabad, India, MIC Electronics is best known for its LED display solutions used in indoor, outdoor and mobile environments, including digital billboards, video walls, and passenger information systems for transport hubs like railways and airports. The company also produces LED lighting products, communication equipment, and has diversified into related segments like telecom software, signalling systems, and medical appliances such as oxygen concentrators.
Listed on major Indian stock exchanges (NSE & BSE), MIC Electronics serves both domestic and international markets, maintaining offices and operations in countries including Australia, the USA and the UAE. Over its history, the firm has achieved several milestones such as securing indigenous telecom equipment approvals and exporting products globally. With its focus on innovation in LED and telecom technologies, MIC Electronics plays a significant role in digital infrastructure solutions across sectors like transportation, advertising, and industrial communications.
