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

To: Mohan Marette who wrote (7100)	9/22/1999 10:13:00 PM
From: Mohan Marette	Respond to of 12475

Satyam Infoway prospectus now available from Merrill Lynch Hong Kong. Satyam Computer Services Ltd satyam.com Satyam Infoway Ltd satyam.net.in Meet the Boys satyam.net.in Corporate Customers satyam.net.in Products satyam.net.in SATYAM Infoway Limited, a subsidiary of Hyderabad-based Satyam Computer Services, has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission, for a proposed offering of American Depository Shares (ADS) representing equity shares of the company. The company has indicated that the offering is for a total of $50 m (around Rs 215 crore). However, there is no mention about the total number of new equity shares or any indicative price. Said a company official, "The number of shares to be offered has not yet been determined." Satyam Infoway will be utilising proceeds from the issue to fund its proposed Internet gateway plan. The company was the first private sector Internet service provider (ISP) to offer Internet services. After the government allowed private ISPs to form their own Internet gateways, Satyam Infoway was among the few to apply for the license. The company is also planning to use a part of the proceeds to develop content for its portal business, advertise and promote the Satyam brand, and to repay certain indebtedness. The company is applying for a listing on Nasdaq. The offering will be lead managed by investment banker Merrill Lynch & Co's Hong Kong office...... economictimes.com