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.