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

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