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

To: Mohan Marette who wrote (660)	2/10/2000 8:10:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OTIndiainfo.com set for an acquisition spree - May list on Nasdaq Bangalore, Feb 10: Indiainfo.com has drawn an ambitious plan for business consolidation through acquisitions and strategic alliances, according to the company's president (portal) B G Mahesh. The company is also gearing up to list on the Nasdaq in the near future. Without naming the targets, Mahesh said the company was acquiring eight firms in the areas of Internet and web-related technologies spread across India and the US. The acquisitions are expected to be completed by February-end. A two-phased fund raising strategy had also been put in place, company's chief financial officer K S Sudarshan said. In the first phase, the company was looking at raising Rs 75 crore (through internal accruals, institutional investors and private equity funds) towards acquisitions and business development, he added. A Nasdaq listing is in the pipeline as part of the second phase of the plan. "We are already working out the modalities for the Nasdaq listing. If domestic market conditions are favourable for our line of business we are also considering a domestic IPO," he said. -Digital HT