TA Associates acquires stake in Micromax


NEW DELHI: Private equity major TA Associates has picked up a minority stake in domestic handset maker Micromax for about Rs 225 crore, a top
company official with the cellphone company told ET. While the exact stake amount could not ascertained, the Micromax executive added that it was less than 20%, valuing the handset maker at about Rs 1,000 crore.

The fund raised will help Micromax expand its handset business to Africa and Latin America. The company is set to launch operations in Nepal later this month, after which it plans to kick off its Africa operations in February-end and also launch in Latin America before the end of this fiscal.

TA Associates acquires stake in Micromax- Telecom-News By Industry-News-The Economic Times

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