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Next Orbit-led consortium to mainly have Indian firms as equity holders

The consortium will consist of only Indian companies, with one of them taking a 20-30 per cent stake

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ISMC will invest $3 billion and will be a key beneficiary of the tweak in the government’s semiconductor incentive scheme undertaken a few days ago, whereby it will now receive a subsidy of 50 per cent of the investment tag, as against 40 per cent ea

Surajeet Das Gupta New Delhi
Indian Semiconductor Manufacturing Corporation (ISMC), a consortium led by Mumbai-based fund, Next Orbit Ventures, has submitted a proposal to the government to set up a fab plant with the capacity to manufacture 40,000 wafers a month. The plant will focus primarily on exports for the next 5-10 years.  

The consortium will consist of only Indian companies, with one of them taking a 20-30 per cent stake. (The name of this company cannot be divulged because of non-disclosure agreements, ISMC said.) The only exception will be Tower Semiconductor, an Israeli fab company, which, sources say, will pick up a 10-15 per

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First Published: Sep 26 2022 | 6:10 AM IST

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