Moschip Semiconductor Technology has received an approval to raise Rs 47.80 crore 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 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 of directors at its meeting held on April 27, 2018 has approved for the same.
Moschip Semiconductor Technology is a fabless semiconductor company. The company’s principal activity includes software development and designing.
