RRK Enterprise Private Limited Discloses Disposal of 54,97,316 Equity Shares in MIC Electronics Limited Under SEBI Takeover Regulations

RRK Enterprise Private Limited, a promoter-group entity, has made a regulatory disclosure dated May 08, 2026, reporting the substantial disposal of equity shares in MIC Electronics Limited. The disclosure was filed in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and submitted to both BSE Limited and the National Stock Exchange of India Limited.

Details of the Share Disposal

RRK Enterprise Private Limited sold a total of 54,97,316 equity shares of MIC Electronics Limited through the open market. The transactions were carried out between February 18, 2026 and May 07, 2026. The sale represents 2.28% of the total share/voting capital of the target company, as well as 2.28% of the total diluted share/voting capital.

The following table summarises the shareholding position of RRK Enterprise Private Limited before and after the disposal:

Metric: Number of Shares % of Total Share/Voting Capital % of Total Diluted Share/Voting Capital Holding before disposal: 11,37,24,095 47.18% 47.18% Shares sold: 54,97,316 2.28% 2.28% Holding after disposal: 10,82,26,779 44.90% 44.90%

Transaction and Capital Details

The disposal was executed entirely through the open market. The equity share capital of MIC Electronics Limited remained unchanged both before and after the transaction, as detailed below:

Parameter: Details Mode of Sale: Open market Sale Period: February 18, 2026 to May 07, 2026 Equity Share Capital (Before Sale): Rs. 48,20,23,120/- divided into 24,10,11,560 equity shares of Rs. 2/- each Equity Share Capital (After Sale): Rs. 48,20,23,120/- divided into 24,10,11,560 equity shares of Rs. 2/- each Total Diluted Share/Voting Capital (After Sale): Rs. 48,20,23,120/- divided into 24,10,11,560 equity shares of Rs. 2/- each

About the Disclosing Entity

RRK Enterprise Private Limited (CIN: U72200TG1998PTC029974) is registered at Plot No. 192/B, Phase II, IDA, Cherlapally, Rangareddi, Hyderabad, Telangana – 500 051. The disclosure was signed by Kaushik Yalamanchili, Director (DIN: 07334243), in his capacity as a representative of the promoter entity. RRK Enterprise Private Limited is classified as a promoter/promoter group entity of MIC Electronics Limited. No shares were reported as encumbered, pledged, or subject to any non-disposal undertaking either before or after the transaction.

MIC Electronics Limited has announced the initiation of development of IPIS v2.0 for Indian Railways, as disclosed to stock exchanges on May 08, 2026, under Regulation 30. The company stated that the project is progressing as per plan, marking a significant step in its engineering and product development initiatives.

Development Progress and Architecture

According to the regulatory filing, the product architecture for IPIS v2.0 has been successfully established. Dedicated teams are working in parallel across multiple development streams to ensure coordinated and steady progress toward product realization.

The key development areas currently underway are outlined below:

Development Area: Status Product Architecture: Successfully established Hardware Development: In progress Firmware Development: In progress Network Management System (NMS) Application Software: In progress Overall Project Status: On track

Engineering Approach and Roadmap

MIC Electronics highlighted that its focused engineering approach and coordinated team efforts are enabling steady development. The company noted a clear roadmap toward the successful deployment of the IPIS v2.0 solution for Indian Railways. The program has achieved meaningful progress across all major development areas, with the project currently on track toward product realization and delivery.

Regulatory Disclosure

The update was communicated to both BSE Limited and the National Stock Exchange of India Limited in compliance with applicable disclosure requirements. The company has committed to keeping the stock exchanges informed of further material developments as the project advances.

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