Optiemus Infracom Limited, a prominent player in the Indian telecommunications and electronics sector, has announced a significant move to acquire additional equity shares in its joint venture subsidiary, Bharat Innovative Glass Technologies Private Limited (BIGTech). This decision, made during the Operations and Administration Committee's meeting on May 2, 2025, highlights Optiemus Infracom’s commitment to bolstering BIGTech's operations and supporting its growth in the competitive mobile consumer electronics industry.

Acquisition Details:

Optiemus Infracom will acquire a total of 2,52,00,000 equity shares of Bharat Innovative Glass Technologies (BIGTech), each with a face value of INR 10, for an overall consideration of INR 25,20,00,000 (INR 25.2 crore). This acquisition will be carried out through a right issue, with an offer price set at INR 10 per share, matching the face value. The transaction is structured in a way that Optiemus Infracom will maintain its current stake of 70% in BIGTech, ensuring continued ownership and control over the subsidiary.

Background on BIGTech:

BIGTech, a company incorporated on October 4, 2023, is a joint venture between Optiemus Infracom and Corning International Corporation, a subsidiary of the renowned U.S.-based Corning Incorporated. The company's primary focus is the manufacturing of cover glass for mobile consumer electronic devices, an essential component for next-generation mobile technologies. Currently, BIGTech is setting up its manufacturing facility in Tamil Nadu, aiming to produce high-quality cover glass to meet the rising demand for mobile devices globally.

The company had a nil turnover in the fiscal year 2023-2024, as it was still in the setup phase of its operations. However, with the establishment of the manufacturing plant, BIGTech is poised to contribute significantly to the mobile consumer electronics sector, enhancing the overall value proposition of Optiemus Infracom.

Purpose of the Acquisition:

The acquisition is aimed at addressing several key objectives:

1. Support for Fund Requirements: The funds from this investment will assist BIGTech in meeting its funding needs to establish its manufacturing facility and cover other business-related expenses.

2. Maintenance of Control: This acquisition ensures that Optiemus Infracom retains its strategic control and ownership in BIGTech, solidifying its position in the growing sector of mobile device components.

3. Brand Image Enhancement: By strengthening its position in BIGTech, Optiemus Infracom aims to enhance its brand image and create value for its stakeholders, especially as the demand for mobile consumer electronics continues to rise globally.

Related Party Transaction:

As BIGTech is a joint venture cum subsidiary of Optiemus Infracom, the acquisition qualifies as a related party transaction. However, the transaction is being conducted at arm's length, ensuring transparency and fairness in the process. Promoter or promoter group companies of Optiemus Infracom do not have any direct interest in BIGTech beyond the company’s ownership stake.

Regulatory Approvals:

Interestingly, the acquisition does not require any prior government or regulatory approvals, as confirmed by the company. The transaction is expected to be completed within 120 days.

Strategic Impact:

This acquisition will help Optiemus Infracom maintain a dominant stake in BIGTech, ensuring it can leverage the company’s advanced technologies and manufacturing capabilities. Additionally, the move is likely to improve the company's position in the mobile electronics industry, especially as the demand for high-performance glass solutions for smartphones and other devices continues to grow.

The decision to invest further into BIGTech underscores Optiemus Infracom’s long-term strategy to expand its footprint in the mobile device sector and enhance its offerings in the electronics manufacturing space.

Conclusion:

Optiemus Infracom’s acquisition of additional equity shares in Bharat Innovative Glass Technologies (BIGTech) signals the company’s continued growth trajectory in the mobile consumer electronics sector. The strategic move to support BIGTech’s manufacturing operations is expected to contribute positively to both the company’s financial health and its industry presence, reaffirming its role as a key player in India’s tech and electronics landscape.

This investment will likely foster stronger collaboration between Optiemus Infracom and its partner, Corning International, enabling the joint venture to capitalize on emerging opportunities in the global mobile electronics market.

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