Microqual may raise $20 mn from PE funds

Microqual may raise $20 mn from PE funds
PTI
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First Published: Mon, Jul 14 2008. 12 11 AM IST
Updated: Mon, Jul 14 2008. 12 11 AM IST
Radio frequency systems provider Microqual Techno Pvt. Ltd is close to sealing a $20 million (about Rs85 crore) private equity (PE) funding and is also planning to raise Rs250-300 crore through an initial public offer (IPO) next year, a company official said.
“This is the second round of PE funding for us and we plan to raise $20 million by end-August from three-four leading PE players,” chief executive Mahesh Choudhary said. In 2007, it had raised $10 million from PE funds. After the new investment, PE funds will hold 48% in the firm.
He said the company is looking to make an IPO by June-July but the final call will depend on market conditions.
Microqual Techno is looking at entering WiMax operations and is planning an acquisition in Europe in this space, Choudhary added.
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First Published: Mon, Jul 14 2008. 12 11 AM IST