Opto Circuits to raise Rs 400 crore through QIP route

Bangalore-based Opto Circuits India, a maker of medical diagnostics and interventional products, today decided to raise up to Rs 400 crore by issuing equity shares or any other securities which are convertible into or exchangeable with the equity shares in one or more foreign currency under Qualified Institutions Placement (QIP) basis.

The company’s board, which met here today, took a decision in this regard. The issue price will be decided in accordance with Sebi (Disclosure and Investors) Guidelines, 2000.

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) which is in accordance with the Guidelines for preferential Issues under Sebi (Disclosure and Investors Protection) Guidelines, 2000, the company informed the Bombay Stock Exchange.