Amidst the news of karbonn A1 launch in India, Karbonn’s first android phone in the country, reports are that the mobile handset maker is planning to raise about $125 million in the next few months through private equity (PE) players to fuel its expansion. The company plans to dilute up to a 15 per cent stake during the process.
Karbonn Mobiles is a joint venture between Delhi-based Jaina Group and Bangalore-based UTL Group and has a market share of 5%. At the eve of the announcement of Karbonn A1 yesterday, the company said that it is spending $5 million or about 23 crore on marketing and promoting its smartphones, which(smartphones) it hopes will make for 10 percent of its revenue this year.
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Karbonn plans to raise $125 million via PE route
Karbonn plans to raise $125 million via PE route
Anil Singh
Wednesday, July 27, 2011
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