Karbonn plans to raise $125 million via PE route

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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