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The Board of Moschip Technologies at its meeting held on 10 June 2023 has approved the allotment of 1,14,52,498 equity shares of face value of Rs 2 at a price of Rs 63.22 per share aggregating to Rs 74.69 crore to the shareholders of Softnautics Inc for consideration other than cash (Swap
shares) towards part payment of the total consideration payable on a preferential issue basis.
Consequent to the above allotment the total number of equity shares of the Company has increased from 166,566,790 to 178,019,287 shares.
Subsequent to the aforementioned allotment, Softnautics Inc has become 100% wholly owned subsidiary of MosChip and Softnautics LLP has become Step down subsidiary.
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