MIC Electronics Limited signed a Memorandum of Understanding with Refit Global Private Limited on February 17, 2026, to evaluate a potential entry into the refurbished and circular electronics segment, with valuation discussions concluded, a term sheet executed, and due diligence in its final stages.
The engagement covers consumer electronics, enterprise and institutional devices, platform and supply-chain integration, and domestic and cross-border market opportunities. Specific models under assessment include refurbishment and resale, managed device lifecycle and asset recovery programs, platform-led distribution, reverse logistics, and export-oriented refurbished electronics supply chains.
Commenting on the development, Rakshit Mathur, CEO, MIC Electronics Limited, said: "This engagement marks a meaningful step in MIC Electronics' strategic evaluation of future-ready, scalable growth opportunities. The refurbished and circular electronics segment offers strong long-term potential, and our discussions with Refit Global allow us to assess capital-efficient structures that combine sustainability, technology capability, and disciplined value creation for stakeholders."
Under the proposed arrangement, Refit Global brings experience in refurbished electronics sourcing, testing, grading, and multi-channel distribution, while MIC Electronics contributes electronics manufacturing and surface-mount technology infrastructure, assembly and testing expertise, and institutional and government market access.
The next steps following the term sheet include completion of due diligence, confirmation of transaction structure, and internal approvals. MIC Electronics stated that no binding commitments will be made until all conditions precedent, approvals, and regulatory requirements are satisfied.
MIC Electronics described the opportunity as asset-light and platform-led, with selective manufacturing and supply-chain integration. The transaction is being advised by Bestvantage Mergerbay, the strategic advisory arm of Bestvantage Investments.