The Goldman Sachs Group, Inc. (NYSE:GS) intends to acquire 26% stake in Opto Circuits (India) Ltd. (BSE:532391) for INR 3 billion according to sources. A source said, "Goldman Sachs is likely to pick stake in Opto Circuits through a combination of existing and fresh equity. Following that the investment banker will also appoint two members to the firm's board." The Press Trust of India added that neither Goldman Sachs nor Opto Circuits offered any comments.

Sources said that the fresh infusion will be used to further expand the company's medical device business. A source added, "Goldman Sachs will pick up this stake at INR 50 to INR 52 per share, valuing Opto Circuits around INR 1.3 billion."