India’s second-largest smartphone maker company, Micromax Informatics is planning to offer about $500 Million (Rs 3,100 Crore) as its Initial public offering and company is looking forward to trade on Dalal street as reports from multiple media outlets are suggesting.
Micromax, first entered in Indian mobile market in the year 2008 and with few smart strategies of offering google quality devices at economy price helped the company to become second in Indian smartphone market.
Regarding this, sources familiar to the reports are saying that the company have shortlisted few names to manage the offering which includes Morgan Stanley and Goldman Sachs.
Right now a Micromax spokesperson said that “As a company policy, we do not comment on market speculation,”.
Micromax will raise about $500 Million through a stock market listing in its financial year beginning in April and company is expecting to value the company 14 times its operating profit.
Sources: The Economic Times
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