More focus on the Indian market will help SIFY:
Monday December 6, 7:29 am Eastern Time
Five India IT firms seen listing on Nasdaq in 2000
BANGALORE, India, Dec 6 (Reuters) - Five Indian information technology firms are set to list on the U.S. Nasdaq stock exchange in 2000, the Press Trust of India (PTI) reported on Monday.
``Five infotech companies are going to be listed on the Nasdaq in calendar 2000, beginning from February,' PTI quoted Dewang Mehta, president of the National Association of Software and Service Companies (NASSCOM), as saying.
The news agency said Mehta refused to name the Nasdaq aspirants expected to join software bluechip Infosys Technologies Ltd (NasdaqNM:INFY - news) and Internet service provider Satyam Infoway Ltd (NasdaqNM:SIFY - news) on the technology-driven U.S. share market.
In March, India's most celebrated software firm, Infosys, became the first Indian company to list on any U.S. stock exchange.
Satyam Infoway, a subsidiary of software firm Satyam Computer Service Ltd , in October followed Infosys to list on the Nasdaq without making an initial public offer (IPO) of its shares in the domestic market.
The news agency said NASSCOM has recommended to the Securities and Exchange Board of India (SEBI) that it relax its IPO norms for information technology companies.
``NASSCOM has suggested to SEBI to relax its norms and do away with the mandatory three-year profitability track record for IPOs, especially with regard to internet and e-commerce companies,' PTI quoted Mehta as saying.
NASSCOM felt that going by global trends, it could be too late for an Internet company to wait for three years of profitability before making a public issue of shares, PTI said. |
