MUMBAI: Indian smartphone maker Micromax Informatics Ltd is looking to raise capital from private investors or through a stock market listing, as it expands into new business segments including personal computing, its co-founder said. Micromax, backed by private equity firms including Sequoia Capital and TA Associates, has held discussions with a group of investors led by Japanese mobile telecom firm SoftBank Corp , Reuters reported last month.
Those talks were about the sale of a 20 percent for up to $1 billion, two people had said, which values the Indian firm at around $5 billion.
Vikas Jain declined to confirm any ongoing talks but said the company was also open to the option of an initial public offering of shares possibly on a local stock exchange.
"As we talk, both the options remain open. We have various (investment) i-bankers who have approached us with either of the options and we're given to understand that there is sufficient amount of interest in Micromax," Jain told Reuters in an interview.
Micromax, which entered the Indian handset market in 2008 with cheap large-screen phones, had hired banks in 2010 for an IPO to raise as much as $150 million but scrapped the plan a year later, citing poor market sentiment.
Micromax, which entered the Indian handset market in 2008 with cheap large-screen phones, had hired banks in 2010 for an IPO to raise as much as $150 million but scrapped the plan a year later, citing poor market sentiment.
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