Technology Hardware, Storage and Peripherals
Company Overview of Micromax Informatics Limited
Micromax Informatics Limited, a consumer electronics company, provides handsets. Its product portfolio includes dual-SIM phones, 3G Android smartphones, tablets, LED and HD LED televisions, android smart televisions, and data cards. The company sells its products through retail outlets in India. It also has sales presence in the Russian Federation and SAARC markets. Micromax Informatics Limited has a strategic collaboration with Intel Corp. The company was founded in 1991 and is headquartered in Gurgaon, India.
Founded in 1991
Key Executives for Micromax Informatics Limited
Co-Founder, Chief Executive Officer and Executive Director
Co-Founder, Business Director, Executive Director and Member of Shareholders/Investors Grievance Committee
Co Founder, Director and Member of Audit Committee
Chief Financial Officer and Company Secretary
Compensation as of Fiscal Year 2014.
Micromax Informatics Limited Key Developments
Micromax Reportedly In Talks To Sell One Fourth Stake To Alibaba For About $700 Million; Softbank May Join The Deal
Jun 25 15
Micromax Informatics Limited is reportedly on the verge of signing an agreement to sell a fourth of itself to Alibaba Group Holding Limited (NYSE:BABA) for about $700 million. The deal involves the sale of a stake of 20-26% to Alibaba Group Holding. An announcement is expected shortly. The legal documentation is getting finalised and may be wrapped up in a fortnight. One of the persons said the deal may value Micromax at as high as $5 billion. The deal may also see the participation of SoftBank Corp. (TSE:9984), which has a 32% stake in Alibaba. Citigroup is advising Alibaba and SoftBank while Micromax is being advised by Goldman Sachs. Alibaba, SoftBank and Micromax declined to comment on what they termed market speculation.
Micromax to Open Manufacturing Facility in Telangana
Jun 12 15
Micromax plans to build a manufacturing facility in the state of Telangana. Micromax has recently sent a team to scout for land and discuss with the State Government officials to facilitate the project. The company is going to submit a formal application on June 12.
Alibaba Looks To Buy 20% Stake In Micromax
May 9 15
Alibaba Group Holding Limited (NYSE:BABA) is in talks with Micromax Informatics Limited to buy a 20% stake. Micromax is reported to have initiated talks with Alibaba on the stake sale after differences in valuations stalled discussions with investors led by Japanese telecoms firm SoftBank Corp. (TSE:9984). "The Softbank talks are not officially over, but it'll be hard to get back on track," the report quoted a source as saying. Micromax is looking at a stake sale to raise capital as it expands into new business segments including personal computing.
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