Optiemus Infracom invests in joint venture subsidiary BIGTech

Optiemus Infracom (BSE: OPTIEMUS) announced today its investment in equity shares of its Joint Venture cum Subsidiary Company, Bharat Innovative Glass Technologies Private Limited (“BIGTech”). The Operations and Administration Committee of the Board of Directors approved the acquisition of 238,000,000 equity shares of BIGTech, with a face value of INR 10 each, at an offer price of INR 10 per share. This amounts to a total consideration of INR 2,380,000,000. This investment will be made by subscribing to BIGTech's rights issue. Following the transaction, Optiemus Infracom's shareholding in BIGTech will be 676,64,800 shares, representing 70% of the company. BIGTech is establishing a manufacturing facility in Tamil Nadu to produce finished cover glass for mobile devices. The acquisition is expected to be completed on or before March 31, 2025.