Microqual Techno to raise $20 mn PE funding
Radio frequency systems and solutions company Microqual Techno is close to sealing private equity funding of $20 million by August-end for expansion.
By PTI |
MUMBAI: Radio frequency systems and solutions company Microqual Techno is close to sealing private equity funding of $20 million by August-end for expansion, a top company official said.
"This is the second round of PE funding for us and we plan to raise USD 20 million by August-end from 3-4 leading PE players," Microqual Techno's CEO Mahesh Choudhary said here.
In mid-2007, the company had raised USD 10 million from three players-- NEA-IndoUS Ventures, JAFCO Asia and BTS India Fund.
The three existing investors will participate in this round of funding as well, apart from a couple of new investors, Choudhary said.
Post the fund-infusion, the PE investors will hold a 48 per cent stake in Microqual Techno.
"We are mulling an IPO by June-July next year but a final call will be taken after considering the prevailing market conditions," Choudhary said.
Microqual Techno also plans to enter the Wimax segment in a big way and is already in talks with a few companies for providing active and passive components.
It is also planning European acquisitions in this space.
"This is the second round of PE funding for us and we plan to raise USD 20 million by August-end from 3-4 leading PE players," Microqual Techno's CEO Mahesh Choudhary said here.
In mid-2007, the company had raised USD 10 million from three players-- NEA-IndoUS Ventures, JAFCO Asia and BTS India Fund.
The three existing investors will participate in this round of funding as well, apart from a couple of new investors, Choudhary said.
Post the fund-infusion, the PE investors will hold a 48 per cent stake in Microqual Techno.
ADVERTISEMENT
The company is proposing an IPO of Rs 250-300 crore by mid-next year to raise resources to fuel its expansion and also to give an exit route to its existing investors. "We are mulling an IPO by June-July next year but a final call will be taken after considering the prevailing market conditions," Choudhary said.
Microqual Techno also plans to enter the Wimax segment in a big way and is already in talks with a few companies for providing active and passive components.
It is also planning European acquisitions in this space.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
