Micromax is planning to offload 25 per cent stake in the company to a consortium led by China-based Ant Financial Services Group for about $4-5 billion. The proposed deal would reportedly see both infusion of capital and exits, partial or total, by existing investors. An exit is expected to give existing investors significant returns on their investments.
The company?s investment committee comprising its promoters, top management and existing investors, will take the final decision on the matter by June 2015.
At present, nearly 80 per cent of the stake is held by the promoters and 15 per cent held by TA Associates, Sequoia Capital and Sandstone Capital own 2.68 per cent each while Madison India Capital has around 0.4 per cent in Micromax.
