MosChip Semiconductor Technology allots 1,06,24,998 equity shares

Pursuant to resolutions passed by the board of directors of MosChip Semiconductor Technology Limited (Company) on 09th September, 2016, the approval of the shareholders of the Company dated 16t October, 2016, and the in-principle approval received from BSE Limited, the Board of Directors of the Company through Resolution by Circulation circulated on January 04, 2017 has allotted a total of (i) 1,06,24,998 equity shares of face value of Rs. 2/-each, (ii) 63,00,000 series 01 warrants and (iii) 66,36,000 series 02 warrants, on a preferential basis.

The allottees are:

- 14,00,000 Equity shares to Mr. Ranganath Kempanahally, 3,00,000 Equity shares to Mr. Zahiruddin Mohammed, and 3,00,000 Equity shares to Mr. Gautham Naik (being the transferring shareholders of Eliteplus Semiconductor Technologies Private Limited)

6,66,700 Equity shares to Mr. Dhananjay Kulkarni, 10,000 Equity shares to Mr, Sunil Desai, and 3,23,300 Equity shares to Ms. Sunita Desai.

6,25,000 Equity shares to Mr. Pooja Nitin Naik, 6,25,000 Equity shares to Mr. Kusum Ashok Talkhande, ~,25,000 Equity shares to Mr. Rajshree Satish Nighot, and 6,25,000 Equity shares to Mr. Juhi Vijay Srivastava.

51,24,998 Equity shares to Techwave Pte Limited, 63,00,000 Series 01 warrants to Techwave pte Limited, and 66,36,000 Series 02 warrants to Techwave Pte Limited.

Pursuant to the above allotment of Equity shares to the transferring shareholders of Eliteplus Semiconductor Technologies Private Limited, Maven Systems Private Limited and Orange Semiconductors Private Limited (such companies collectively, Acquired Companies), all the Acquired Companies have become wholly owned subsidiaries of the Company.

The acquisition of the Acquired Companies as wholly owned subsidiaries of the Company has been accepted by the Board of Directors through Resolution by Circulation circulated on January 04,2017.

Shares of MOSCHIP SEMICONDUCTOR TECHNOLOGY LTD. was last trading in BSE at Rs.62.5 as compared to the previous close of Rs. 64.65. The total number of shares traded during the day was 364443 in over 1149 trades.

The stock hit an intraday high of Rs. 65.7 and intraday low of 62. The net turnover during the day was Rs. 22979400.

Source : Equity Bulls

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