The home-grown device manufacturer, Maxx Mobile plans to raise about Rs 1 billion from private equity (PE) players by September 2014.
The funds raised through PE route will be used as working capital for supporting the company?s day to day operations. Meanwhile, Maxx Mobile is also exploring the option offloading a minority stake in the company.
In the financial year 2014, the company reported a turnover of Rs 6 billion. Going forward, the company plans to expand is existing operations significantly by tapping into growing demand for accessories apart from focusing on entry-to-mid and mid-to-high end smartphones (priced between Rs 4,000 and Rs 17,000).
Over the next few months, the device manufacturer plans to introduce a wide range of mid-to-high value accessories including power banks (portable chargers), hands-free kits (earphones), Bluetooth speakers and plastic covers etc.
Maxx Mobile is looking forward to leverage its own production unit at Haridwar in Uttarakhand for manufacturing accessories.
