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HYDERABAD: MosChip Semiconductor Technology Ltd has informed the BSE that members at an extraordinary general meeting on Thursday approved a hike in authorised capital and move to offer global depository shares.

Members authorised the board to issue GDRs or any other instrument convertible into equity shares optionally or otherwise for an aggregate sum up to $12 million or equivalent in Indian currency in tranche or tranches.

To facilitate this, the Moschip board has decided to increase the authorised share capital of the company from the existing Rs 40 crore to Rs 55 crore by way of creation of 1.5 crore equity shares of Rs 10 each.

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