TA Associates Invests Rs 225cr in Micromax
TA Associates has invested Rs225cr for a minority stake of less than 20% in Micromax, valuing the company at about Rs1000cr.
Last year the company had announced that they were looking to dilute a minority stake through either IPO or private placement. Grant Thornton was the strategic advisor to Micromax.
Micromax is a domestic handset maker established in 1991.
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 is among the global PE majors with over 300 portfolio companies across various sectors — in India, the PE major has invested in Idea Cellular and GlobeOp Financial Services, a specialist BPO company.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 15/03/12 | Micromax Informatics - Spreadtrum Communications | M&A | Spreadtrum Communications | 10.00 |
| 30/01/12 | Micromax - IPO | IPO / Offerings | - | |
| 16/09/10 | Micromax- TA Associates | Private Equity | TA Associates Inc. | 21.87 |
| 16/09/10 | Micromax - Sandstone Capital, Sequoia Capital, Madison Capital | Private Equity | Sandstone Capital LLC | 43.60 |
| 19/12/09 | Micromax Informatics - TA Associates(PE) | Private Equity | TA Associates Inc. | 21.61 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/05/12 | Private Equity | Looking For | Kavveri Telecom Infrastructure Limited | 20.00 | Planned |
| 16/04/12 | Private Equity | GIC Special Investments Pte Limited | Tulip Telecom Limited | - | Completed |
| 11/04/12 | M&A | Bharti Airtel Limited (Formerly Bharti Televentures Limited) | 4G Licenses | 1164.82 | Planned |
| 15/03/12 | M&A | Spreadtrum Communications | Micromax Informatics Limited | 10.00 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| TA Associates Inc. | 16000 | Healthcare Telecom IT/ITES/Technology Consumer Goods BFSI |
www.ta.com | Naveen WadheraNaveen WadheraSaiyid S HamidAditya SharmaAjit NedungadiAbhiroop Jayanthi |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Micromax Informatics Limited | Rajesh Agarwal Rahul Sharma Sumeet Arora Vikas Jain |
Block-A, Plot No. 21/14, Naraina Industrial Area, New Delhi-110028. Delhi, India | Spice Mobiles Limited | www.micromaxinfo.com |
 |
Grant Thornton |
| Dealforwards |  |
| May 11, 2012... | Panasonic Acquires 76.2% In Firepro Systems |
|
| May 14, 2012... | OCS Systems Acquires Lighthouse Funds Backed Radiant Hospitality |
|
| May 14, 2012...1 |  |
India Value Fund May Invest Upto R500Cr In Manipal Hospitals |
| May 14, 2012... | Jain Irrigation Acquires NaanDanJain |
|
| May 11, 2012... | EWDL To Raise R250Cr Through PE Route |
|
