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Telecom equipment maker Optiemus to raise Rs.400-Cr

Economic Times  

Delhi-based wearables and telecom equipment maker Optiemus Infracom is to raise around INR 400 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 fund-raise will be done through preferential allotment of 75 lakh convertible warrants, convertible in one or more tranches into equity shares of INR 10 each, within 18 months into equity shares.The raised funds are going to be infused into two of its subsidiaries - INR 80 crore into Optiemus Electronics and INR 60 crore GDN Enterprises. The company plans to expand its manufacturing business to make laptops and notebooks under the IT hardware production-linked incentive scheme.