Satyam Infoway Ltd managing director and chief executive officer R Ramaraj told The Financial Express that the company may consider a venture in this line. "However, we have not yet framed any blueprint for the purpose," he added.

Satyam Infoway has already raised funds from the overseas market to expand its Internet business. "We will utilise these funds in a judicious way, not hurting the shareholders and investor community. Since the plans are at a nascent stage, we can not comment on the exact size of the funds," Ramaraj said here on Wednesday.

It is not immediately known which company from the Satyam group would kick off the funding programme. The group has two companies - Satyam Infoway and Satyam Computers. Ramaraj also did not rule out the possibility of a domestic listing by Satyam Infoway, the first Indian Internet firm to be listed on an overseas bourse.

Recently, Satyam Infoway invested some funds in a start-up youth portal - 15to21.com, picking up about 55 per cent equity stake. Company officials said Satyam Infoway is also launching its Internet services in Kathmandu in association with a local partner.

Ramaraj said Satyam Infoway was looking at the acquisition route as part of its growth plans. "We are in the process of identifying a couple of companies which have expertise in areas like technologies additional revenues," he added. The Satyam group may also conduct a brand valuation of the group companies based on the market cap, brand recall, strength in infrastructure, among other things. The company is also setting up Web server hosting facilities in the country.

The total investment for the company's Internet expansion over the next 12 months will be $20 million. Satyam Infoway's `cableweb' - Internet-on-cable service will be extended to other cities in a phased manner, he said.