Optiemus Infracom, an electronics contract producer on Friday introduced completion of sale of certainly one of its actual property belongings in Noida for ₹285 crore. “…that is to tell you that after acquiring approvals from shareholders and different involved authorities, the execution of sale and switch of land along with constructions/constructing of the corporate…has been accomplished on March 04, 2021 for a complete consideration of ₹285 crore,” Optiemus Infracom stated in a regulatory submitting.
The corporate stated the sale of the actual property asset is within the general finest curiosity of the corporate as after exiting from its non-core asset, the corporate will now primarily give attention to its core enterprise of producing of cellular and different mobility merchandise to attain most benefit of the PLI scheme.
Optiemus is certainly one of 16 entities whose proposal underneath the PLI scheme has been accepted by the federal government. The PLI scheme for large-scale electronics manufacturing was notified on 1 April, 2020.
“The web proceeds of the above talked about transaction will primarily be utilised in direction of enlargement of cellular manufacturing enterprise by way of Optiemus Electronics Restricted, subsidiary firm and to repay the present loans and scale back curiosity burden,” the submitting stated.
Optiemus Infracom and Wistron collectively made cellphones for LG, Blackberry, HTC, Oppo, OnePlus, JioPhones by way of their three way partnership Optiemus Electronics. Optiemus Infracom has now bought your entire stake of Wistron in Optiemus Electronics.
Optiemus Infracom chairman Ashok Kumar Gupta had earlier informed PTI that the corporate was in strategy of organising a brand new plant.