Opto Circuits to raise Rs 400 crore

Opto Circuits to raise Rs 400 crore Bangalore-headquartered Opto Circuits India has decided to raise up to Rs 400 crore by issuing equity shares or any other securities under Qualified Institutions Placement (QIP) basis.

The issue price will be decided in accordance with SEBI (Disclosure and Investors) Guidelines, 2000.

Apart from latest development, the board also decided to issue up to 6 million convertible share warrants on preferential basis to promoters and promoters group, directors of the company and its subsidiaries, employees.

The issue will be priced at around Rs 210 per share warrant (face value of Rs 10 and premium Rs 200 per share warrant).

Opto Circuits engages in the manufacture and marketing of health care and medical electronic products primarily in India, Europe, the United States, and rest of Asia.

The shares of the company settled the day at Rs 186, marginally lower than to its previous close. The scrip has made 52-week-high and low of Rs 220 and Rs 70 respectively.