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GKB Ophthalmics to incorporate new Joint Venture Company

GKB Ophthalmics has received an approval to incorporate a new Joint Venture Company between SOMO Vision, South Korea and the company, in which the company will hold 50.01% equity shares. The Board of Directors of the company at their meeting held on May 10, 2018, approved the same.

In order to fund this new Joint Venture and to support future growth of its business and in order to further augment the financial resources of the company, the Board also approved the proposed preferential issues of an aggregate up to Rs 10,07,50,000 fully paid up equity shares at an issue price of Rs 155 ( including a premium of Rs 145) per fully paid up equity shares, for cash consideration.

GKB Ophthalmics is engaged in the manufacture and export of high-quality, single-vision mineral opthalmic lenses.  

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