optiemus infracom has announced a leadership change at its wholly-owned subsidiary, Optiemus Electronics Limited (OEL). The board of OEL accepted the resignation of Mr. A. Gururaj from the position of Managing Director and Key Managerial Personnel, effective from the close of business hours on June 30, 2026, citing health issues as the reason for his departure.

To ensure operational continuity, the board of OEL has approved the appointment of Mr. Neetesh Gupta as the new Managing Director with effect from July 1, 2026. This appointment is subject to the approval of the shareholders. Mr. Gupta is an existing Non-Executive Director of OEL and belongs to the Promoter Group of Optiemus Infracom Limited.

Mr. Gupta holds a Master's Degree in Business Management from Nottingham University, England. He brings over 11 years of experience in the telecommunications, electronics manufacturing, and trading sectors. His expertise includes product development, sourcing, procurement, and operational management across mobile phones, mobile accessories, and IoT products.

The company stated that Mr. Gupta has played a significant role in the growth of the Optiemus Group. His appointment is intended to lead OEL in its next phase of expansion and strengthen its manufacturing capabilities in line with the Group's long-term vision.

Key Appointments

Optiemus Infracom has approved an investment of ₹10.8 crore in its joint venture Bharat Innovative Glass Technologies Private Limited (Bigtech) to support the establishment of a glass manufacturing facility in Tamil Nadu. Additionally, the company sanctioned an unsecured loan of up to ₹100 crore to its wholly-owned subsidiary, GDN Enterprises Private Limited, to bolster its working capital requirements. These decisions were taken by the Operations & Administration Committee on June 30, 2026.

Investment in Joint Venture Bigtech

The company will acquire 1,07,99,460 equity shares of Bigtech at a price of ₹10 per share, aggregating to ₹10,79,94,600, by subscribing to a rights issue. Bigtech, a joint venture with Corning International Corporation, is currently setting up a manufacturing facility in Tamil Nadu for finished cover glass used in mobile consumer electronic devices. The transaction, classified as a related party transaction, will be conducted at arm's length based on valuation by an Independent Valuer. Post-acquisition, Optiemus Infracom will hold 12,46,64,260 shares, representing 70% of the paid-up equity share capital of Bigtech. The transaction is expected to be completed within 90 days.

Financial Support to Subsidiary GDN Enterprises

Simultaneously, Optiemus Infracom entered into a loan agreement with GDN Enterprises to grant an unsecured loan of up to ₹100 crore. The loan will be disbursed in one or more tranches for a period of 3 years at an interest rate of 8.50% per annum or a rate linked to the State Bank of India benchmark. The funds are intended to support the business operations and working capital needs of the subsidiary. This agreement also constitutes a related party transaction and was executed on June 30, 2026.

Key Transaction Details

The following table outlines the key financial decisions approved by the committee: