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

To: Mohan Marette who wrote (1324)	3/22/2000 3:55:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 1471

OT VC firm Chrysalis takes majority stake in Spectramind New Delhi, March 22: Venture capital firm Chrysalis Capital on Wednesday announced that it has taken majority stake in Spectramind Ltd, an infotech services company promoted by IT entrepreneur Raman Roy, by investing about Rs 60 crore in the company. Spectramind, which is planning to invest about Rs 100 crore this year in expanding its operations, would focus on providing customer relations management and other outsourced services to dotcom and large companies globally, Roy, who is chief executive officer of the company told reporters. The venture capital firm has taken about 80 per cent stake in the Rs 75 crore paid-up capital of the company, Ashish Dhawan, director of Chrysalis Capital said. Dhawan said Roy's stake in the company would go up "substantially" over the coming years in the form of ESOP. Spectramind which is currently in the process of setting up a 1,000 seat facility in Delhi, would accomodate 5,000 seats over the next three years, Roy said. In addition, the company would also invest in infrastructure and training of manpower, he said. The company would have Larry Pressler former US senator and a Chrysalis investor as board members, Ashis Dhawan director of Chrysalis said, adding that Pressler would also assist the company in promoting the business developing customer relationship in the US. Spectramind, which plans to focus on developing its manpower resource and scouting clients in its first year of operation beginning may this year, expects to notch up revenues of $ 5.8 million in 2000-01. -Digital HT