MosChip Semiconductor Technology Ltd to raise Rs. 47.80 crores

The Board of Directors of MosChip Semiconductor Technology Limited at its meeting held on 27th April 2018 at Hyderabad proposed to raise Rs. 47.80 Crores through issue of equity shares and convertible warrants on preferential basis to the promoters and select private investors. The proposed issue will be priced at Rs. 45 per share / warrant or such higher price as may be arrived at in accordance with the SEBI ICDR Regulations.

The capital being raised will be deployed to fund the business operations and further strengthen the Balance Sheet of the company by retiring a part of the debt.

The Board has also initiated steps to appoint a new CEO.

Shares of MOSCHIP SEMICONDUCTOR TECHNOLOGY LTD. was last trading in BSE at Rs.33.45 as compared to the previous close of Rs. 32.5. The total number of shares traded during the day was 189811 in over 265 trades.

The stock hit an intraday high of Rs. 34.1 and intraday low of 32.3. The net turnover during the day was Rs. 6369442.

Source : Equity Bulls

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