TA Associates Invests $45M in Micromax Informatics Limited
Summary
Micromax Informatics Limited, New Delhi, a India-based leading mobile handset provider has recived a $45m minority investment from TA Associates, a growth private equity firm.According to Macquarie Research and Grant Thornton, the Indian wireless market is one of the fastest growing in the world, adding 10 to 15 million mobile subscribers per month.In conjunction with the investment, Naveen Wadhera, Director, TA Associates Advisory Pvt.Commenting on the deal, Rajesh Agarwal, Managing Director, Micromax Informatics Limited, was reported to say: “We are pleased to enter this partnership with TA.“TA offers a unique combination of financial support, strategic guidance and a significant network of contacts, as well as a wealth of experience in the communications sector.