United Telelinks, which together with Jaina Marketing & Associates owns Handset manufacturer Karbonn Mobiles, is looking to sell a stake in itself to private equity firms, according to Dow Jones.
The deal, which would reportedly see United Telekinks…
United Telelinks, which together with Jaina Marketing & Associates owns Handset manufacturer Karbonn Mobiles, is looking to sell a stake in itself to private equity firms, according to Dow Jones.
The deal, which would reportedly see United Telekinks divest a 15% interest for Rs6bn (US$135m), is scheduled to close in October when the value of the company is expected to reach Rs40bn (US$898m).
Dow Jones wrote that, by October, Karbonn will have strengthened its number one position among domestic handset makers.
Back in January this year, Karbonn was reported to be considering borrowing as much as Rs2.3bn (US$50m) from private equity firms, including Accel Partners and Mount Kellet Capital.
The company was looking to create a manufacturing unit in Bangalore and had planned to invest Rs1bn (US$22m) in the current fiscal year for operations, functions and sales.
Karbonn did not respond to emails before the press deadline.
