Satyam Infoway Ltd-(Nasdaq:SIFY) Message Board

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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 10.96

-4.9%

Nov 13 3:59 PM EST

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To: Mohan Marette who wrote (1279)	3/20/2000 10:46:00 AM
From: Mohan Marette	Read Replies (1) of 1471

Satyam diluting stake in Sify 18-03-2000 17:30:38 Satyam Computer Services Ltd., which holds a majority stake in Satyam Infoway Ltd (Sify), is planning to sell around 2.5-3% of its stake in Sify through a domestic placement to domestic and foreign institutional investors. Currently, Satyam has a 57% stake in Sify. Present Government regulations do not permit it to lower its stake in Sify below 51% which leaves it a small window of 6%, which it can sell to raise money. It is believed that Satyam would ideally like to place the stake at a price equivalent to the ADS price on the Nasdaq. Potential investors have also been assured that Sify will have a domestic listing within the next few months. The total funds raised from this placement would be in the region of $150-175mn and would be used primarily to pay off Satyam's debts. -indiainfo

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