Micromax gears up for $500 million IPO: Report
05/01/2015 15:32
Given the bull-run in the equity market, Indian IPO market is buzzing with activity these days. After successful listing of Monte Carlo and NCML, the market seems to be heating up again with Indian handset brand Micromax lined with USD 500 million IPO. According to Economic Times report, India fastest growing smartphone maker, Micromax Informatics, is planning to raise as much as USD 500 million through a stock market listing in its financial year beginning in April. If believed to ET report, the mobile phone maker would sell a minority stake in its initial public offering of shares to raise fund to meet business expansion plan. The company has shortlisted Morgan Stanley and Goldman Sachs to manage the offering, the ET report said, adding that Micromax expects a valuation of 14 times its operating profit.
05/01/2015 15:32
Given the bull-run in the equity market, Indian IPO market is buzzing with activity these days. After successful listing of Monte Carlo and NCML, the market seems to be heating up again with Indian handset brand Micromax lined with USD 500 million IPO. According to Economic Times report, India fastest growing smartphone maker, Micromax Informatics, is planning to raise as much as USD 500 million through a stock market listing in its financial year beginning in April. If believed to ET report, the mobile phone maker would sell a minority stake in its initial public offering of shares to raise fund to meet business expansion plan. The company has shortlisted Morgan Stanley and Goldman Sachs to manage the offering, the ET report said, adding that Micromax expects a valuation of 14 times its operating profit.
