Bharti BT Internet targets 70,000 clients by March, 2000, says CEO
bhartibt.com
Mantra Online
mantraonline.com
YP Rajesh (fe)
Bangalore, Nov 3: A five-month-old Internet affiliate of British Telecommunications Plc (BT) in India is on its way to having 70,000 customers by March 2000, its chief executive officer said on Wednesday.
"We should have 70,000 customers, which is about 12 per cent of the total market, by March," Bharti BT Internet Ltd CEO N Arjun said in an interview. "We have been adding about 6,000 new customers every month."
Arjun said the firm was interested in an initial public offering in the United States and a listing on the Nasdaq stock exchange, but a decision on such a move would have to be made by the shareholders of the joint venture partners.
"It makes more sense for an Internet firm to be listed on the Nasdaq than in India. For us it will take at least 12 months to do so," he said on the sidelines of an information technology fair in Bangalore.
Bharti BT Internet, a 51:49 joint venture of Bharti Telespatiale and BT, launched its "Mantra Online" Internet service in May after India ended the monopoly on Internet services.
Bharti Telespatiale is an associate of Bharti Telventures, which was earlier known as Bharti Telecom Ltd.
Last month, Satyam Infoway Ltd, first private Internet Service Provider, listed its American Depositary Receipts on the Nasdaq and joined a long list of global Internet firms that have caught the fancy of American investors."In the first five months since we launched we have 31,000 customers in three Indian cities, and by April we should be in 12 more cities," Arjun said.
Referring to the total market, he said: "We expect the total number of subscribers in the country to touch 500,000 by March and double that number a year later in 2001. But 100 per cent growth cannot be sustained after that."
Arjun said the firm had applied to the government for clearances to set up its own Internet gateway and was expecting the green signal by the end of November.
"If we get all the clearances on time, we should be able to launch the gateway on March 1," he said.
"In two years' time, we want to be one of the top four Internet Service Providers (based on number of customers) and one of the top five Internet portals in the country."
Arjun said the Mantra Online website at www.mantraonline.com was presently being viewed 2.5 million times a month, and said usage would increase further as portal sites increased the Indian content on the site. |
