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Pioneer Investcorp takes 6% of rupeesaver.com
Geeta Nair
Pune, April 5: Pioneer Investcorp Ltd of Mumbai has picked up a six per cent stake for Rs 3 crore in rupeesaver.com, which gives it a valuation of around Rs 50 crore. The site is now going for a private placement to raise additional funds for its Rs 10 crore investment plans.Rupeesaver.com is a platform for buyers of branded consumer durable products with the dealers playing a critical role in the buying process. "While other sites are attempting to remove dealers we will actually be encouraging dealers in a city to bring down prices and become more competitive," says Prakash Bang, promoter of the site. The site tabulates offers from branded manufacturers and dealers which is collected regularly by a field staff in each of the cities. This is presented on the site with details of models, product features and comparison between various models and brands. Potential customers can get the lowest available quotes in the product of their interest in their city. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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