Micromax plans $150 mn IPO

Micromax has shortlisted Citigroup,Edelweiss and JM Financial for an initial public offering.

Written by Agencies | Mumbai | Published:August 20, 2010 10:40 am

Micromax has shortlisted Citigroup,Edelweiss and JM Financial for an initial public offering to raise as much as $150 million,two sources with direct knowledge said on Thursday. The share offering could be launched towards the end of this year and the documents to seek the market regulators approval is likely to be filed next month,the sources,who declined to be named as they were not authorised to the media,said.

Micromax could be immediately reached for comments.

A strong market debut for SKS Microfinance,which counts US billionaire George Soros as one of its investors,on Monday boosted prospects of more such offers in the worlds largest market for small loans.

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