While the firm is primarily into procuring and marketing mobile handsets and consumer durables, it had invested in a few companies earlier on its own, unlike the proposed initiative where it will raise funds and lead the project.
According to Rahul Sharma, co-founder, Micromax, some of its past investments have provided huge returns (where the internal rate of return had been in “triple digits”) and thus it is willing to expand the “horizon”. Micromax had set up a corpus of Rs 2,700 crore ($400 million) in 2014 and has since invested in 10 firms. Here are some of them:
Transerv: Micromax Informatics had tied up with Transerv, a Mumbai-headquartered digital payment solution company, in early 2016 to offer (Read More)