Optiemus Infracom, a maker of wearables and telecom equipment, plans to raise around ₹400 crore to expand its manufacturing business and strengthen its brand image. The company aims to enter the market for screen protectors and mobile phone cover glass under a license from the U.S.-based Corning.
In a stock exchange filing, Optiemus announced that the fund-raising will occur through the preferential allotment of 75 lakh convertible warrants. These warrants can be converted into equity shares of ₹10 each within 18 months.
The company intends to use the funds to grow its manufacturing operations and increase marketing efforts. It plans to expand into making laptops and notebooks under the IT hardware production-linked incentive scheme. Industry insiders reveal that Optiemus is in talks with a global brand and may begin manufacturing for them in the next 3-6 months.
The raised funds will be distributed between two subsidiaries—₹80 crore to Optiemus Electronics and ₹60 crore to GDN Enterprises.
