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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (370)	2/19/2001 2:30:47 PM
From: ms.smartest.person	of 2248

Data Access may close 2nd funding with Rs 100cr NEW DELHI RICHARD Li-promoted Pacific Convergence Mauritius' Indian affiliate Data Access on Sunday said it expected to close the second round of funding with Rs 100 crore for expanding Network of the World dial-up service in India and building infrastructure. "In the ongoing round of funding, both the Indian and foreign promoters are expected to invest a total of Rs 100 crore for expanding the dial-up ISP operations across the country," said Rajiv Jaitly, executive vice-president, Data Access. He said this would take the authorised capital of the company to Rs 200 crore, and till now Rs 70 crore had already been spent on upgrading infrastructure and brand-building. Jaitly said the company had made a conscious decision to focus more on access part of NOW since the content portion -- which includes now TV, now.com and now-india.com -- were being seen as offering premature products to the Indian market. Jaitly said the ISP service had 65,000 subscribers, between Delhi and Mumbai, and it planned to soon expand operations to Chennai and Bangalore, complete with gateways for each new city of operation. "We will invest substantially in expanding our marketing activities. These include a joint initiative with software education major NIIT beginning today (Sunday) and event-based promotion," Jaitly said, but declined to divulge the promotional budget. - PTI economictimes.com

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