Jains
to buy out Asia Online stake in India Domain
Business Line - March 3rd, 2002 INDIA Domain, a Hyderabad-based company engaged in e-business solutions covering a wide gamut of applications, has decided to buy back equity from Asia Online which had earlier acquired a majority stake in the company.
Mr Prashant Jain, Managing Director, in a statement said, the company decided to buy back the equity from Asia Online intending to focus on India-specific operations.
Asia Online is a Pan Asia-Pacific Internet solutions provider. It holds a 67-per cent stake in India Domain and Mr Prashant Jain, the remaining 33 per cent. Asia Online is funded by institutions such as Softbank Venture Capital, JP Morgan Partners and BNP Paribas.
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