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Autocop to market Pioneer products
Special Correspondent
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Plans initial public offering to mobilise Rs. 200 crore
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DESIGNED FOR INDIA: Tatsuo Takeuchi (left), Managing Director, Pioneer Electronics Asiacentre PTE Ltd, Singapore, and Umesh Deshpande, President and CEO, Autocop (India) Pvt. Ltd., at a press conference in Mumbai on Friday. — Photo: Shashi Ashiwal
NEW DELHI:
The Autocop group is considering a joint venture with Pioneer Electronics of Singapore to exclusively market the latter's products in India. Pioneer is looking at capturing 50 per cent of the Rs.100-crore Indian car audio market in five years.
"Considering the businesses and different partners we have in India, we are looking at an initial public offer to raise about Rs. 200 crore,'' President and CEO of Autocop India Pvt. Ltd. Umesh Deshpande told reporters on the occasion signing of the formal distribution, marketing and service support agreement with Pioneer Electronics for car audio systems.
Pioneer introduced its India exclusive line of products on Friday, which come at a price range of Rs. 5,990-Rs. 15,490.
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