Moschip Semiconductor open offer begins

Shares of Moschip Semiconductor will remain in focus on the open offer from Techwave Pte Ltd. The Singapore-based firm plans to acquire 2.958 crore shares at ₹7 a share. The open offer, which opens between May 25 and June 6, was triggered after Techwave in February had entered into a share subscription agreement with the promoters of Moschip to pick up 56.30 per cent stake. The acquirer plans no major changes to the existing line of business of Moschip.