Optiemus Infracom Limited has announced significant investments in its wholly owned subsidiaries, Optiemus Electronics Limited (OEL) and GDN Enterprises Private Limited (GDN). These strategic moves aim to enhance business operations, improve financial strength, and drive long-term growth.
Investment in Optiemus Electronics Limited (OEL)
Key Details:
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Industry: Manufacturing
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Nature of Consideration: Cash
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Cost of Acquisition: INR 31 crore
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Acquisition Details: The company will acquire 10,00,000 equity shares with a face value of INR 10 each, at an offer price of INR 310 per share, which includes a premium of INR 300.
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Shareholding Post-Acquisition: Optiemus Infracom Limited will hold 1,90,74,980 shares (excluding six shares held by a nominee).
Objectives & Impact of Acquisition:
This investment is intended to:
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Provide OEL with necessary funds for working capital and capital expenditure.
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Strengthen ownership and control over the subsidiary.
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Enhance brand reputation and stakeholder value.
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Improve the company’s balance sheet and diversify financial risks.
Background of OEL:
Optiemus Electronics Limited specializes in the manufacturing of mobile phones, hearables & wearables, IT hardware, and telecom products in India. It offers end-to-end solutions to both Indian and global brands through its state-of-the-art manufacturing facilities in Noida, Uttar Pradesh.
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Turnover (March 31, 2024): INR 58141.30 Lacs
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Net Worth (March 31, 2024): INR 5833.05 Lacs
Related Party Transaction:
Since OEL is a wholly owned subsidiary, and Mr. Ashok Gupta and Mr. Neetesh Gupta serve as common directors, this transaction is categorized as a related party transaction. However, it is being conducted on an Arm’s Length basis, with the acquisition price determined by an independent valuation report.
Completion Timeline:
The acquisition is expected to be finalized within 120 days.
Investment in GDN Enterprises Private Limited (GDN)
Key Details:
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Industry: Manufacturing
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Nature of Consideration: Cash
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Cost of Acquisition: INR 24.99 crore
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Acquisition Details: The company will acquire 6,49,350 equity shares with a face value of INR 10 each, at an offer price of INR 385 per share, including a premium of INR 375.
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Shareholding Post-Acquisition: Optiemus Infracom Limited will hold 47,19,349 shares (excluding one share held by a nominee).
Objectives & Impact of Acquisition:
This investment aims to:
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Provide GDN with necessary funds for working capital and capital expenditure.
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Strengthen ownership and control over the subsidiary.
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Enhance brand reputation and stakeholder value.
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Improve the company’s balance sheet and mitigate financial risks.
Background of GDN:
GDN Enterprises Private Limited specializes in the manufacturing and assembly of electronic products and operates a manufacturing facility in Noida. It is also a beneficiary of the Production Linked Incentive (PLI) Scheme for telecommunication and networking products, an initiative by the Government of India.
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Turnover (March 31, 2024): INR 48769.14 Lacs
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Net Worth (March 31, 2024): INR (2797.19) Lacs
Related Party Transaction:
Since GDN is a wholly owned subsidiary, and Mr. Ashok Gupta and Mr. Neetesh Gupta serve as common directors, this transaction is categorized as a related party transaction. However, it is being conducted on an Arm’s Length basis, with the acquisition price determined by an independent valuation report.
Completion Timeline:
The acquisition is expected to be finalized within 120 days.
