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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (5619)	8/17/1999 12:46:00 PM
From: ratan lal	Read Replies (1) \| Respond to of 12475

Mohan Must be teh educated muslims and christians with post graduate degrees. <gggg> ratan

To: Mohan Marette who wrote (5619)	8/17/1999 3:25:00 PM
From: Mohan Marette	Respond to of 12475

BancAmerica to pick up 21 per cent stake in Indiaworld (Wednesday, August 18, 1999) Rajas Kelkar in Mumbai BancAmerica Private Equity Partners is set to acquire a 21 per cent stake in IndiaWorld Communications Pvt Ltd, a Mumbai-based Internet company. The deal, put at Rs 15 crore, is expected to be concluded soon. The BancAmerica fund plans to focus on the growth of IndiaWorld's many websites like khel.com, khoj.com and samachar.com. Rajesh Jain, founder and managing director of IndiaWorld was not available for comment, nor were officials of BancAmerica. The two parties are currently discussing modalities for the acquisition, merchant banking sources said. Sources put IndiaWorld's ask price at Rs 17 crore. However, the deal is likely to be struck at a lower price. According to sources close to the deal, a term sheet has been signed with the company for the proposed acquisition and both are in the process of completing formalities with regard to due diligence. BancAmerica Private Equity Partners, which manages the proprietary fund, is keen to take up equity in Internet companies in India. IndiaWorld's Jain had earlier said that the Internet-based businessis growing by more than 300 per cent a year in India. "By the year 2000, India will have one of the largest Internet communities in Asia. Our vision is to build on the aggregation business model of which IndiaWorld, Khoj and Samachar offer advertisers and merchants a focused audience," Jain said. While khoj.com, a searchable Internet directory on India was launched in March 1997, khel.com, a site on cricket, and samachar.com, a personalised Indian newspaper were launched in June 1997. IndiaWorld has also developed sites for more than 125 Indian organisations, among which, the Tata group, the Reserve Bank of India, ICICI, Rajshri Productions and Elbee figure prominently. (Business Standard 8/18/99)