MosChip to buy 73% stake in Vayavya Labs for ₹245.49cr
Business
MosChip Technologies's stock shot up nearly 7% to ₹196.55 after announcing it's buying a 73% stake in Vayavya Labs for ₹245.49 crore.
This move is all about boosting MosChip's product engineering game, and investors seem to like it: the stock has climbed 11% over the last two days.
MosChip issues 50L+ shares at ₹192
MosChip is funding the buyout with a mix of cash and new shares, handing out over 50 lakh shares at ₹192 each.
Vayavya Labs, based in Belagavi since 2006, works on "Silicon-to-System" tech for industries like semiconductors and communications.
MosChip also plans to pick up the remaining 27% stake after March 2028, aiming to strengthen its spot in the engineering world.