The Board of Directors of Opto Circuits India, a manufacturer of medical diagnostics and interventional products, has approved the issue of warrants amounting up to Rs 400 crore. The board has also approved issuing up to 60 lakh convertible share warrants on preferential basis to the promoters and promoters group, directors, directors of the subsidiaries and employees. The warrants would be issued at an approximate price of Rs 210/- per share warrant (face value of Rs 10 and premium Rs 200 per share warrant) which is in accordance with the 'Guidelines for Preferential Issues' under SEBI (DIP) Guidelines, 2000.

Vinod Ramnani, chairman and managing director, said, "We are happy that the Board has approved the fresh infusion of funds into the company. We are confident of using the proceeds to plan our next level of growth."

The company's product profile includes digital thermometers, sensors, probes, pulse oximeters, patient monitoring systems, stents, catheters and other innovative products. In April 2007, OCI ventured into new product segments - Urology, Gastroenterology, Gynaecology and Orthopaedics after acquiring Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology (Chennai). OCI completed the acquisition of US based Criticare Systems, Inc. in April 2008. Criticare designs, manufactures, and markets leading edge patient monitoring systems, vital signs monitors and gas benches for a wide range of hospitals and alternate health care environments throughout the world.