Optiemus seeks Rs 400 crore to expand manufacturing operations

Wearables and telecom equipment maker Optiemus Infracom is looking to raise around Rs400 crore to expand its manufacturing business and enhance its brand image ahead of a planned foray into making and selling screen protectors and mobile phone cover glass under a licence from US-based Corning.

The company, in a stock exchange filing, said the fund-raise will be done through preferential allotment of 75 lakh convertible warrants, convertible in one or more tranches into equity shares of RS 10 each, within 18 months into equity shares.

The funds are going to be used in expanding the company's manufacturing business and for marketing spends. The company is planning to expand its manufacturing business to make laptops and notebooks under the IT hardware production-linked incentive scheme, according to industry executives who are aware of the matter. It is currently in talks with a global brand and is expected to start manufacturing for them in the next 3-6 months.


The raised funds are going to be infused into two of its subsidiaries - Rs 80 crore into Optiemus Electronics and Rs 60 crore GDN Enterprises.