India's Micromax plans up to $500 million IPO - paper

MUMBAI (Reuters) - Micromax Informatics, India's second-largest smartphone maker, plans to raise as much as $500 million through a stock market listing in its financial year beginning in April, the Economic Times newspaper reported on Saturday. Micromax, which entered the Indian handset market in 2008 with cheap large-screen phones, will sell a minority stake in its initial public offering of shares, the newspaper said, citing unnamed bankers and a company executive. ...