Private equity (PE) players Sandstone Capital, Sequoia Capital and Madison India Capital have picked up a minority stake in India’s largest domestic handset maker, Micromax, for about Rs 200 crore, ahead of its possible listing on the bourses. Micromax business director Vikas Jain said these two PE players have acquired less than 10% stake in the company. He did not rule out the possibility of this being a pre-IPO placement, but declined to comment on the company’s plans to hit the capital markets in the coming months. The Gurgaon-headquartered company will become the first domestic handset maker to go public. It has hired Citigroup Global Markets, Edelweiss and JPMorgan to be the lead bankers for the public offering to raise `600-800 crore, an industry executive aware of the development said. […]