Indian smartphone maker Micromax has reportedly hired banks for a listing, which could value the group at up to US$10bn.
Micromax has mandated Morgan Stanley and Goldman Sachs to raise as much as Rs31.7bn (US$500m) in an initial public offering, the…
Indian smartphone maker Micromax has reportedly hired banks for a listing, which could value the group at up to US$10bn.
Micromax has mandated Morgan Stanley and Goldman Sachs to raise as much as Rs31.7bn (US$500m) in an initial public offering, the Economic Times reported citing local bankers and a top company executive.
Should the company choose to list it would come after April, in Micromax’s new financial year, the report said.
Micromax’s backers include private equity firm TA Associates and venture capital investor Sequoia Capital.
As of Q3 2014, Micromax accounted for 2.2% of global handset sales, up from 1.5% for the equivalent quarter in 2013, according to data from Gartner. It is the 10th-largest smartphone manufacturer in the world.
