Opto Circuits (India) gets nod to raise up to $250 million

Opto Circuits (India) has received an approval to raise funds for the company and/or for its Indian/Overseas Subsidiaries up to an aggregate amount not exceeding $250 million. The board of director at its meeting held on May 06, 2014 has approved for the same. The company will raise funds by way of issue of securities, including Global Depositary Receipts (GDRs) and or American Depository Receipts (ADRs) convertible into equity shares, or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc., convertible into equity shares, in one or more tranches, in Indian or Foreign Market(s) as applicable, whether optionally or otherwise or any combination thereof. Opto Circuits India is a multinational medical device company headquartered out of Bengaluru, India. The company designs, develop, manufacture, market and distribute a range of medical products that are used by healthcare establishments in more than 150 countries.