[Funding News] Optiemus to Raises Rs 400 Cr Funding to Expand Manufacturing Operations

Optiemus Infracom, a manufacturer of wearables and telecom equipment, is seeking to raise approximately Rs400 crore to expand its manufacturing operations and improve its brand reputation in preparation for entering the market of producing and selling screen protectors and mobile phone cover glass.

The money will be allocated toward growing the company's production operations and marketing expenditures. According to industry experts familiar with the situation, the company intends to broaden its manufacturing operations to include the production of laptops and notebooks under the IT hardware production-linked incentive program. Currently, negotiations are underway with a multinational corporation, and it is anticipated that production for this brand will commence within the next 3-6 months.

The funds raised would be allocated to two subsidiaries: Rs 80 crore to Optiemus Electronics and Rs 60 crore to GDN Enterprises.

This venture would be carried out under a licensing agreement with Corning, a US-based company.

Read also - 35North Ventures Secures Rs 100 Cr Funding Round

The company said in a stock exchange filing that it will raise funds through the issuance of 7.5 million convertible warrants. These warrants can be converted into equity shares of RS 10 apiece, either all at once or in many installments, during a period of 18 months.

About Optiemus

Founded in 1993, Optiemus Infracom Limited is a Diversified, Award-Winning, High-Performance Telecommunications Enterprise with over 25 years of multi-domain experience including management, distribution & marketing of mobile & telecom products in the Indian subcontinent.

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