Buy
Back Time: Market conditions to help focus on specifics
Promoters
buy India Domain stake
Economics Times - March 3rd, 2002 Asia
Online, which had acquired a majority stake in India Domain in
August 2000, has relinquished the same in favour of the India
promoters. The Indian core promoters have bought back the
equity for an undisclosed amount. "We took the decision
to buy back the equity from Asia Online with an eye on
focusing on India specific operations," Mr. Prashant
Jain, managing director, India Domain Web Services said in a
statement here today. Asia
Online, a Pan-Asia Pacific internet solution provider, held a
67 per cent stake in the company, while AONL itself was funded
by investors such as Softbank Venture capital, J P Morgan
Partners, BNP Paribas among others. Indian promoters headed by
Mr. Prashant Jain held the remaining 33 per cent. India
Domain is into the entire gamut of e-business like Web
enablement, B2B Market Place, B2C Online Retailing,
e-Procurement, e-Customer Relationship Management, e-Sales
Force Automation, e-Management Information System, e-Content
Management System, e-Learning among other businesses. It is
currently putting in place a Web Management information system
for Lawrence & Mayo, India's Oldest optical retail chain.
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