Micromax Informatics was incorporated as “Micromax Informatics Private Limited†on March 29, 2000 under the Companies Act with the RoC. Subsequently, the company became a public limited company pursuant to a shareholders resolution dated June 26, 2000 and the name of the company was changed to “Micromax Informatics Limited†pursuant to a fresh certificate of incorporation from the RoC on August 3, 2001. The company is engaged in the business of mobile
Micromax Informatics was incorporated as “Micromax Informatics Private Limited†on March 29, 2000 under the Companies Act with the RoC. Subsequently, the company became a public limited company pursuant to a shareholders resolution dated June 26, 2000 and the name of the company was changed to “Micromax Informatics Limited†pursuant to a fresh certificate of incorporation from the RoC on August 3, 2001. The company is engaged in the business of mobile handsets and mobile data cards. They were previously engaged in the business of software and e-commerce development. The company is not operating under any injunction or restraining order.
They are the largest Indian domestic mobile handsets company in terms of units shipped during the quarter ended March 31, 2010 and the third largest mobile handset seller in India as at March 31, 2010. They were the fastest growing among India's top five mobile brands during the twelve month period ended March 31, 2010 compared to the twelve month period ended March 31, 2009 in terms of the number of shipments. They sold 7.05 million mobile handsets in fiscal 2010. Their handset sales have grown by 132.43% from 1.11 million units in the quarter ended June 30, 2009 to 2.58 million units in the quarter ended March 31, 2010. They also sell mobile data cards for computers under their own brand to service providers in India.
All of their promoters have a background in engineering and an average of more than 10 years experience each in the information technology and telecommunications industry. In 2009, TA Associates, a private equity firm based in the United States, through its associate, Wagner, acquired a stake in the company and currently holds 15.00% of the pre-Issue capital of the company. Furthermore, Sequoia Capital, Sandstone and Madison, through their affiliates, acquired 5.77% of the current pre-Issue capital of the company in September 2010.
Milestones:
2000
2001
2003
Started its embedded technology business.
Developed Digitally Automated Traffic Information System, a proprietary security software for Airport Authority of India.
2005
2006
2007
2008
Started assembling of fixed phone and terminals wireless.
Started the mobile handset business.
Tied up with BSNL for 3G data cards.
Tie-up with Airtel for launching data cards.
2010
Tied up with ONGC and MTNL for supplying of Data Cards.
Co-sponsored Apsara awards, the first sponsored event by the company
Private equity investment by Wagner
Title sponsor for IIFA Awards
2011
Product categories:
Long life battery mobile phones
Dual reception mode handsets
QWERTY keypad mobile phones
Utility phones
Multimedia mobile phones
Universal remote control mobile phone
Gaming mobile phone
Smart phones
3G mobile phones
Gravity phones
Subsidiary:
Micromax Informatics FZE (Micromax FZE) - Their subsidiary, Micromax FZE was incorporated on January 21, 2010 pursuant to the regulations regarding the establishment of a Free Zone Establishment under the laws of the United Arab Emirates, with registration number RAKFTZA-FZE-4003969. Micromax FZE is engaged in the business of, export operations of the products of our Company. The paid up capital of Micromax FZE is AED 100,000 (divided into 100,000 equity shares of AED 1 each). Their company holds 100,000 equity shares in Micromax FZE, i.e. 100% of the issued and paid up capital of Micromax FZE.
