Alipay, China's leading online payment solution company is ready to acquire 25% stake in Micromax.
Alipay is a part of the Alibaba Group, China's leading online finance company valued Micromax at $4-5 billion according to a report. Micromax is currently India's No. 2 handset maker. Alipay is bringing in two or three partners to the homegrown mobile manufacturing company.
However, the fruition of the deal will also depend upon Sanjay Kapoor, who is the company's chairman and its promoters. The founder promoters of the company are - Rahul Sharma, Rajesh Agarwal, Sumeet Kumar, and Vikas Jain. They own a little less than 80% of the company.
According to the report, Kapoor feels that Micromax should focus more on online sales. But, the opinion of the promoters differ, noting that 70% of the sales still comes from traditional retail channel.
A person also said that Paytm, an online mobile payment platform, in which Alipay bought a significant stake could also be integrated with the Micromax handsets. However, Paytm has declined this statement.
Alipay is a part of the Alibaba Group, China's leading online finance company valued Micromax at $4-5 billion according to a report. Micromax is currently India's No. 2 handset maker. Alipay is bringing in two or three partners to the homegrown mobile manufacturing company.
However, the fruition of the deal will also depend upon Sanjay Kapoor, who is the company's chairman and its promoters. The founder promoters of the company are - Rahul Sharma, Rajesh Agarwal, Sumeet Kumar, and Vikas Jain. They own a little less than 80% of the company.
According to the report, Kapoor feels that Micromax should focus more on online sales. But, the opinion of the promoters differ, noting that 70% of the sales still comes from traditional retail channel.
A person also said that Paytm, an online mobile payment platform, in which Alipay bought a significant stake could also be integrated with the Micromax handsets. However, Paytm has declined this statement.
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