Announced Tue, 30 Jun · 10:54 IST
Optiemus invests Rs 10.8 Cr in Bigtech JV, extends Rs 100 Cr loan to GDN subsidiary
OPTIEMUS · price
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Price reaction · full curve 14 horizons · vs prior close
+3.9%1-day move
₹467.55
prior close
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AI summary
Optiemus Infracom will acquire 1.08 crore additional equity shares of Bigtech, a joint venture with Corning International for cover glass manufacturing, through a rights issue at Rs 10 per share totaling about Rs 10.8 crores, keeping its 70% stake. Separately, the company will grant an unsecured loan of up to Rs 100 crores to its wholly owned subsidiary GDN Enterprises over 3 years at 8.50% annual interest to support working capital needs.
Likely market impact
Rs 10.8 cr infusion into JV for new Tamil Nadu glass facility; Rs 100 cr inter-corporate loan to wholly owned subsidiary supports group structure.