Multibagger Telecom Equipment Company Acquires 2,52,00,000 Shares of Bharat Innovative Glass Technologies Pvt Ltd
The stock gave multibagger returns of 143 per cent from its 52-week low and over 1,900 per cent in 5 years.
The Operations and Administration Committee of the Board of Directors at Optiemus Infracom Ltd convened on May 2, 2025, and approved the acquisition of 2,52,00,000 equity shares of Bharat Innovative Glass Technologies Private Limited (BIGTech). These shares, each with a face value and offer price of Rs 10, amount to a total consideration of Rs 252,000,000. This acquisition will be executed through subscription to the rights issue of BIGTech, which is identified as a Joint Venture cum Subsidiary of Optiemus Infracom.
BIGTech, the target entity, was incorporated on October 4, 2023, and as of March 31, 2024, reported a nil turnover and a net worth of Rs 7.80 Lacs as it is currently in the process of setting up its manufacturing facility. As a Joint Venture cum Subsidiary, BIGTech is considered a related party to Optiemus Infracom, making this acquisition a related party transaction conducted at arm's length. While Optiemus Infracom holds shares in BIGTech, the Promoter/Promoter Group/Group companies of Optiemus Infracom have no other interest in BIGTech. The industry to which BIGTech belongs is manufacturing, specifically focused on producing finished cover glass.
The primary objectives behind this acquisition are to provide BIGTech with the necessary funds to establish its manufacturing facility and cover other business-related expenses. Furthermore, it aims to maintain Optiemus Infracom's ownership and control within this Joint Venture cum Subsidiary, ultimately enhancing the brand image and creating value for the stakeholders of Optiemus. No prior governmental or regulatory approvals are required for this acquisition, and the transaction is anticipated to be completed within the next 120 days, with the consideration being paid in cash. Following the acquisition, Optiemus Infracom's total shareholding in BIGTech will increase from 88,664,800 (70 per cent) to 113,864,800 (70 per cent). BIGTech is also a joint venture with Corning International Corporation and is establishing its manufacturing unit in Tamil Nadu to produce cover glass for mobile consumer electronic devices and other applications.
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About Optiemus Infracom Ltd
Optiemus Infracom Ltd has been a key player in the Indian mobile handset distribution business for over 25 years, primarily distributing for major brands like Nokia and Samsung. Beginning with Nokia handset distribution in Delhi in 1995, the company's core business remains trading and distribution, currently handling devices from Nokia, Samsung, and HTC. Optiemus Infracom operates through a wide network encompassing 27 regional branches, around 650 distributors, over 10,000 retail partners in the general trade, and more than 700 service centres across India.
The company has a market cap of over Rs 4,400 crore. The stock gave multibagger returns of 143 per cent from its 52-week low and over 1,900 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.