On 17 February 2026 MIC Electronics Limited entered into a memorandum of understanding (MoU) with Refit Global Private Limited to evaluate entry into the refurbished and circular electronics segment. The engagement has progressed to the signing of a term sheet, with valuation discussions concluded and due diligence in the final stages. The proposed transaction, if consummated, would represent a calibrated expansion into a high-growth sustainability aligned vertical while maintaining financial discipline, governance oversight and regulatory compliance. The company said the move formed part of a broader effort to diversify revenue beyond traditional project led infrastructure businesses.\n\nUnder the MoU the evaluation covers consumer electronics, enterprise and institutional devices, platform and supply chain integration, and domestic and cross border market opportunities. At a high level the assessment is considering refurbishment and resale models, managed device lifecycle and asset recovery programmes, platform led distribution of refurbished electronics, reverse logistics and compliance driven refurbishment processes. The parties are focused on identifying scalable and compliant operating models that could be replicated across markets.\n\nRefit Global Private Limited was described as bringing experience in refurbished electronics sourcing, testing, grading and multi channel distribution together with knowledge of circular supply chains across consumer and enterprise segments. MIC Electronics was noted to contribute established electronics manufacturing and testing infrastructure, robust quality and governance frameworks, large scale assembly expertise and institutional and government market access. Together they are evaluating integrated models spanning refurbishment, testing, compliance and distribution.\n\nThe company indicated that the engagement allows assessment of capital efficient structures that combine sustainability, technology capability and disciplined value creation for stakeholders. The next steps include completion of final-stage due diligence, confirmation of transaction structure, assessment of operational and regulatory readiness, and completion of internal approvals and definitive documentation. No binding commitments will be concluded until all conditions precedent approvals and regulatory requirements are satisfied. The release added that the refurbished electronics market is witnessing strong growth driven by shorter device replacement cycles, rising demand for affordable technology, ESG led procurement practices and regulatory focus on responsible e waste management.