MosChip lines Rs 12 crore rights

 The company proposes to issue 33,43,587 equity shares based on the shareholding on the record date in the ratio of 6:55 at Rs 35 a share.

 Post rights issue, the equity of the company will increase to Rs 26.56 crore from the existing Rs 23.22 crore.

 The company had earlier planned a preferential issue to raise funds but latter opted for the rights issue, citing the reason that there are no takers for the preferential issue at the then average market price of Rs 55 per share.

 The board of directors of the company has also decided to shift their Noida Unit to Hyderabad to have a better management control.

 However, it has deferred the allotment of equity shares to the members of the US-based Verasity Technologies Inc, to the next meeting in view of non-receipt of confirmation from the US authorities.

 The US company