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<keyword id="71696" type="COMPANY" weightage="20" keywordseo="Micromax">Micromax</keyword>, which was not even half of Sony in turnover, might pip Sony India as it crossed Rs 10, <keyword id="6367198" type="UNKNOWN" weightage="20" keywordseo="000-crore">000 crore</keyword> in annual revenues during year to March 2015. 
 
Micromax Informatics grew sales by a whopping 47% in 2014-15 to Rs 10,450 crore. Sony India’s business grew 10% with revenue at Rs 11,010 crore. 
 
As Micromax is banking on online and 4G smartphones business, experts feel it will pip Sony India, which is revamping its smartphone business. 
 
"In smartphones, the growth during the second half will be driven by 4G models which now account for 30% of our portfolio with 20 models and will be further strengthened. We also have around 10% share in LED televisions, which will continue to grow," Micromax chief executive officer Vineet Taneja told ET. 
 
Meanwhile, Sony India said they may come down due to no solid sporting event. 
 
"On a like-to-like basis without the laptop portfolio, our sales growth rate was 22%. However, this year we expect sales growth may come down due to absence of any major sporting event like last year which drives television sales," Sony India's sales head Satish Padmanabhan told ET. 
 
According to Counterpoint Research, though Micromax has increased its sales from online, it is facing a tough time in $50-100 price segment from Intex, Lava and others. 
 
"If we have to grow at this pace, we have to gain share which we will continue to strive, but will also not do anything for short-term benefit which several of the brands are now doing," said Taneja. 
 
(Image: Reuters)

Micromax is the new Usain Bolt as annual revenues cross Rs 10,000 crore

<ul><li><keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">ixigo</keyword>’s parent company <keyword id="735664" type="COMPANY" weightage="20" keywordseo="Le-Travenues-Technology">Le Travenues Technology</keyword> ⁠has filed preliminary papers for the IPO.</li><li>The company aims to raise ₹750 crore through fresh issue and ₹850 crore through secondary issue.</li><li>The issue would offer partial exits to investors such as Elevation Capital and Micromax.</li></ul>Gurugram-based online ticketing startup Le Travenues Technology ⁠— which operates the <keyword id="9276563" type="UNKNOWN" weightage="20" keywordseo="travel-app-ixigo">travel app ixigo</keyword> ⁠— has filed the draft red herring prospectus (DRHP) to raise ₹1,600 crore through its initial public offering (IPO). According to the preliminary prospectus submitted with the Securities and Exchange Board of India (SEBI), ixigo’s IPO would include a fresh issue of ₹750 crore and an offer for sale (OFS) component of ₹850 crore. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,600 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹750 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale (OFS) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹850 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OFS by </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elevation Capital, Micromax, and founders Aloke Bajpai and Rajnish Kumar </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment bankers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities, Axis Capital, Kotak Mahindra Capital &amp; Nomura </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Legal advisors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shardul Amarchand Mangaldas and Khaitan &amp; Co </td></tr></tbody></table> ixigo’s DRHP highlights that Elevation Capital (formerly known as SAIF) would be selling shares worth ₹550 crore. Meanwhile, Micromax would be selling shares worth ₹200 crore. Both Aloke Bajpai and Rajnish Kumar, who founded the company in 2007, will be selling shares worth ₹50 crore each. Earlier this week, MakeMyTrip, which invested about $5 million in ixigo back in 2011,<a href="https://www.businessinsider.in/business/startups/news/makemytrip-fully-exits-travel-aggregator-ixigo-deep-kalra-to-resign-from-the-board/articleshow/85240387.cms"> completely exited</a> Le Travenues Technology ahead of its IPO. With this, MakeMyTrip’s founder Deep Kalra also stepped down from ixigo’s board post this sell-off. The publicly listed company has made about 8-fold return on its initial investment in ixigo. It sold the shareholdings for $38.5 million, clocking $33.1 million as net returns. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-may-dominate-the-foldable-smartphone-market-with-88-share-says-report/articleshow/85091203.cms">Samsung may dominate the foldable smartphone market with 88% share, says report</a>

Travel app ixigo files for a ₹1,600 crore IPO

Just at a time when the tech savvys across the country were assuming the fate of net neutrality, Aircel has come up with a plan that would enable access to basic free internet in a year as part of the telecom operator strategy to push mobile internet usage. 
 
"Our intent is that everybody should have access to Internet and it should not be limited to only elites. We have started offering free basic Internet service in Tamil Nadu and it should be available across India in a year," Aircel Chief Marketing Officer Anupam Vasudev told PTI. 
 
The company under its Free Basic Internet programme is offering service with download speed of 64 kb per second. 
 
"For new customers it is free for three months. After that if they continue to be active, customers by recharging with amount of at least Rs 150 in a month, the free basic Internet will be complimentary for them," Aircel Vice President for Data, Devices and Online Sunil Kuttam said. 
 
The company is strengthening its 3G network with target to have around 20,000 mobile sites by end of next year. 
 
Talking about strategy to attract customers to enhance their data usage, Kuttam said that the company has partnered Microsoft, Samsung, Gionee, Micromax, Lava, Karbonn and Intex to offer their move devices at discounted price with some amount of free data. 
 
Aircel is also partnering Snapdeal, Amazon and Flipkart to sell paper recharge. These recharges would bel sold under cash on delivery model for those customers who are skeptical of sharing their debit or credit card details online. 
 
The company today announced sale of two recharge vouchers in denomination of Rs 402 and Rs 602 through Snapdeal which will offer 3G and 2G mobile Internet service at discounted price compared with options available through retail channels. 
 
"We are offering 100 minutes talk time and 3 GB of 3G and 2G data, depending on the location of subscriber, which is very less than price available through other channels," Vasudev said. 
 
Aircel has also partnered Ingram, a mobile insurance provider, for Aircel Cover Plus. Any customer who buys a new smartphone through Aircel Will be able to choose from two variants of this product within seven days of the purchase for getting coverage limited to Accidental and Liquid Damage only. 
 
For new smartphones up to Rs 10,000 customers can purchase Rs 499 pack that offers benefits worth Rs 1,200. This will also include 1GB Aircel data for three months. The other pack available for Rs 799 pack offers insurance for smartphones up to Rs 55,000 and will include 1GB data for three months and Premium Anti-Virus.

It’s raining goodies from Aircel. One year free internet is the best of the lot

You Searched For "Micromax net worth" and got 3 results

Micromax is the new Usain Bolt as annual revenues cross Rs 10,000 crore

BI India Bureau

Travel app ixigo files for a ₹1,600 crore IPO

Kritti Bhalla

It’s raining goodies from Aircel. One year free internet is the best of the lot

BI India Bureau

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