Sancode Technologies to Establish Semiconductor OSAT Plant with Joint Venture Partner

Sancode Technologies Ltd is progressing with plans to establish a semiconductor chip testing and packaging (OSAT) plant through a joint venture partnership with a foreign technical collaborator. The company has incorporated a wholly owned subsidiary, Sancode Semi Pvt Ltd, to execute the project. The project involves multiple steps including identifying and negotiating with a joint venture partner, submission of documents, understanding market potential, and identifying vendors. The majority of the preferential issue proceeds will be used towards initial feasibility studies, market analysis, consultant and lawyers’ fees, identifying technology partner and performing technology due diligence. If the project faces delay or in case of a non-approval, excess funds if any, will be utilized for expansion into other New-Age technology product and services.