Optiemus Infracom Limited has approved the acquisition of 56,00,000 equity shares of its wholly-owned subsidiary, Optiemus Unmanned Systems Private Limited (OUS). The acquisition, valued at ₹5.60 crore, aims to support OUS’s fund requirements for working capital and capital expenditure. This strategic move is expected to enhance the subsidiary’s operations, ownership, brand image, and financial flexibility.
Strategic Acquisition to Boost Subsidiary Operations
Optiemus Infracom Limited announced today its decision to acquire an additional 56,00,000 equity shares in its wholly-owned subsidiary, Optiemus Unmanned Systems Private Limited (OUS). The transaction, priced at INR 10 per share, represents a total consideration of ₹5.60 crore. This move is designed to bolster OUS’s financial standing and operational capabilities.
Objectives and Impact of the Acquisition
The primary objectives behind this acquisition include providing OUS with necessary funds for working capital and capital expenditure. This will enable the enhancement of its business operations, potentially through investments in movable and immovable assets. The company also aims to maintain its ownership and control over this crucial subsidiary. Furthermore, the acquisition is projected to contribute to the enhancement of the Optiemus brand image, drive value creation for stakeholders, and strengthen the overall balance sheet and financial flexibility of the group.
Subsidiary Background and Industry Focus
Optiemus Unmanned Systems Private Limited, incorporated on June 21, 2024, is engaged in the manufacturing of various types of unmanned aerial vehicles, including drones. The company plans to focus on producing high-quality, indigenous drones to meet the specific demands of sectors such as Defence, Agriculture, Mining, Solar Farms, Oil and Gas, Railways, and Highways. This initiative aligns with the ‘Atmanirbhar Bharat’ campaign and aims to support critical industries in India.
Transaction Details
The acquisition is considered a related party transaction, as Mr. Ashok Gupta is a common director in both Optiemus Infracom Limited and OUS. However, the transaction is being conducted on an arm’s length basis. No prior governmental or regulatory approvals are required for this acquisition, and the transaction is expected to be completed within 90 days. The consideration will be paid in cash.
Shareholding and Future Outlook
Following this acquisition, Optiemus Infracom Limited’s shareholding in OUS will increase to 80,99,999 shares, up from the previously held 24,99,999 shares (excluding one share held by a nominee). This strategic investment underscores Optiemus Infracom’s commitment to expanding its footprint in the burgeoning drone manufacturing sector and contributing to India’s industrial self-reliance.
Source: BSE
