Optiemus invests Rs 10.8 Cr in Bigtech JV, sanctions Rs 100 Cr loan to GDN

Listed Co AcquisitionStrategic Transactions View source PDF

OPTIEMUS · price

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AI summary

Optiemus Infracom will subscribe to a rights issue of its JV and subsidiary Bigtech (Bharat Innovative Glass Technologies), acquiring about 1.08 crore equity shares at Rs 10 each for about Rs 10.8 crores in cash. Bigtech is a JV with Corning International and is setting up a cover glass manufacturing unit in Tamil Nadu for mobile devices. Optiemus holding stays at 70 percent. Separately, the company approved an unsecured loan of up to Rs 100 crores to wholly owned subsidiary GDN Enterprises for 3 years at 8.50 percent interest to support working capital.

Likely market impact

Capital infusion supports subsidiary manufacturing setup; Rs 100 Cr loan aids subsidiary working capital. Minor for parent valuation.