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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (318)	12/7/1999 8:23:00 AM
From: Mohan Marette	Respond to of 1471

Satyam Infoway mulls IndiaWorld IPO Tuesday December 7, 7:04 am Eastern Time NEW DELHI, Dec 7 (Reuters) - Indian internet firm Satyam Infoway Ltd will consider launching a public issue of shares in IndiaWorld Communications Pvt ltd as a possible option to help fund its purchase of the internet portal, the company's managing director said on Tuesday. R. Ramaraj, Managing Director of Satyam Infoway, told reporters at a business seminar the company could also consider issuing bonds, and if regulations governing initial public offerings in India changed it could also offer its own shares on the domestic market. ``IndiaWorld has the option of being listed in India or maybe there are bonds (to be issued),' Ramaraj said. ``We have quite a few options, like listing in India. I believe changes are on which will allow companies like us to list in India, ' he said. To list on Indian stock markets companies have to show a track record of profits for at least three years. Ramaraj said late last month that he expected Satyam Infoway to break even in two years. When asked whether he expected better valuations from stock markets for a possible IndiaWorld floatation, Ramaraj said: ``I think so.' ``We are not so sure whether a bond issue is such a good thing, and will take some time to decide' he added. Satyam Infoway Ltd announced late last month that it had bought a 24.5 percent stake in IndiaWorld for $28 million, and had an option to buy the remaining 75.5 pct by the end of June for a further $87 million, and had paid a $12 million non-refundable deposit for the option. Satyam Infoway has said the purchase of the initial 24.5 percent would be funded from the $75.15 million it raised through an issue of American Depositary Receipts (ADRs) on Nasdaq in October. Satyam Infoway is a subsidiary of Indian software services firm Satyam Computer Services Ltd . IndiaWorld is a leading Internet services firm which provides website creation, hosting and management services. IndiaWorld runs websites like www.samachar.com, www.khel.com and www.khoj.com. IndiaWorld website registered an aggregate of 13 million page views in October 1999, most of them coming from outside India. The ADRs of Satyam Infoway closed up $13 at $135 on Monday. biz.yahoo.com