What is the name of the new JV formed between Infopower Technologies and Mitac Holdings? When are you planning to make it operational?
Actually it is not going to be a new company. Mitac has invested in our existing company Infopower Technologies Limited and taken a strategic stake in the company. Infopower is already operational.
The new JV will focus on what all activities? Will this new JV focus on PCB manufacturing, sale of PoS (Point of Sales) terminal and manufacturing of digital dashboard and DVR (Digital Video Recorder) to be used in automotive industry?
Besides the existing product lines and businesses of Infopower, now the product line of Mitac Corporation will also be promoted through Infopower. The product lines are extremely varied covering wearables, automotive solutions including dash cam products, GPS, server, storage, PoS (point of sales) and datacenter solutions.
What is the total investment planned and by what time frame?
The existing investment is to the tune of Rs. 20 crores for expanding existing operations in terms of capacity and capability. Additionally there will be further investment by the joint entity to build a state of the art manufacturing operation for the above mentioned product lines as these are all high end electronic products. The new investment is planned over a 3 year period while the initial infusion is planned immediately.
What will be the equity participation of Info Power and Mitac in the new JV?
Sahasra Group owns 67% whereas Mitac would own 33% in Infopower Technologies.
Are you also planning to set up two – three new manufacturing facilities in the country in Greater Noida and for what purpose?
Yes, we plan to set up new manufacturing units in Noida and Greater Noida. The parent company Sahasra Electronics will also be setting up additional manufacturing units in Bhiwadi and Noida.