The Board of Directors of Virtuoso Optoelectronics Limited approves Allotment of 24,56,140 Equity Shares

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Nashik, 6th March 2023: Virtuoso Optoelectronics Ltd (VOEPL), an emerging manufacturer of high-volume, large-scale production of Electronics Manufacturing Services (EMS) and consumer & industrial products, received approval from its Board of Directors on the allotment of 24,56,140 Equity Shares of a having face value of Rs. 10/- each at a price of Rs. 142.50/- (including premium of Rs 132.50/- per share) at the Extra Ordinary General Meeting held on 1st March 2023.

Sr. No. Name of Allottees Pre issue Shares % to pre issue capital No. of equity shares allotted Post issue shares % to post issue capital
1 Ashish Kacholia 0 0 1228070 1228070 5.38
2 Bengal Finance & Investment Pvt. Ltd. 0 0 1228070 1228070 5.38

Consequent to the aforesaid allotted of equity shares, the paid-up Equity Share capital of the Company stands increased at Rs. 22,83,86,560 comprising 2,28,38,656 Equity Shares of Rs. 10/ each.

Mr. Sukrit Bharti, MD, Virtuoso Optoelectronics Ltd, said “This investment by marquee investors in our company signifies the confidence in the strength of our business and continuous efforts by the entire team to make Virtuoso Optoelectronics (VOEPL) a leading player in EMS and the white goods manufacturing sector. This growth capital is aimed towards scaling up VOEPL offerings and capabilities of our business as well as being able to maintain our growth rates over the next 3 years as envisaged by the management team and Board of Directors. We are extremely confident about the opportunities that lie ahead for us. We are at an important inflection point in our endeavour to continue creating value for our shareholders.”

Virtuoso Optoelectronics Limited (VOEPL) was incorporated as Private Limited in September 2015 and was subsequently converted to a Public Company in March 2021. The company got listed on the BSE-SME exchange only on 15 September 2022. It is an emerging manufacturer of high-volume production of Electronics Manufacturing Services (EMS) and consumer products, based in Nashik (Maharashtra). They manufacture consumer durable goods and assemble a wide array of products and provide end-to-end product solutions. We serve under both original equipment manufacturers (OEMs) and Original Design Manufacturers (ODMs) business models.