Optiemus Infracom-led subsidiary receives approval under PLI scheme; Stock jumps 5%

Under the scheme, the target segments are - laptops, tablets, all-in-one personal computers (PCs) and Servers.

Jul 02, 2021 10:07 IST India Infoline News Service

On Friday, Optiemus Infracom has announced that the Ministry of Electronics and Information Technology (‘MeitY’) approved the application of its wholly-owned subsidiary Optiemus Electronics under the Production Linked Incentive Scheme (“PLI Scheme”) for the manufacturing of IT Hardware. The approval was received on July 01, 2021.

Under the scheme, the target segments are - laptops, tablets, all-in-one personal computers (PCs) and Servers.

The scheme proposes production-linked incentives to boost domestic manufacturing and attract large investments in the value chain of these IT Hardware products.

Furthermore, the scheme extends an incentive of 4% to 2% / 1% on net incremental sales (over the base year of FY 2019-20) of goods under target segments that are manufactured in India to eligible companies for four years (FY22 to FY25).

That said, Optiemus said that over the next 4 years, the approved companies under the PLI Scheme for IT Hardware are expected to lead to a total production of more than Rs. 1.61 lakh crore. The approved companies under the Domestic Companies category have proposed production of Rs76,007 crore.

Accordingly, Optiemus Electronics will commence the production in accordance with the Production Linked Incentive (PLI) Scheme.

At around 10.11 am, Optiemus Infracom was trading at Rs167.80 per piece up by 4.9% on Sensex. The stock had locked at its upper circuit of Rs167.90 per piece during the early deals. 

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