HCL Info launch ISP

HCL Info launch ISP
PRESS TRUST OF INDIA

SEPt 21: "HCL Infosystems would invest Rs 125 crore to spread out in 42 cities targeting a subscriber base of one lakh within a year," HCL Infinet president Saurav Adhikari said while launching the ISP here.

He said the parent company would divest its stake to public, venture funds and strategic investors after consolidating the business within the next 12-18 months.

"We would divest small portion (5-10 per cent) to venture funds through the book-building route and also go for an initial public offer to dilute HCL's stake," Adhikari said.

The amount to be offloaded would depend on the investment requirement and the business generated through the ISP. HCL Infinet would go for global alliances for expanding its E-commerce business in both B2B and B2C areas estimated to grow to $ 180 million in India by 2002 from the present $ 15 million, he said.

"The company has already tied up with Asian Age for newscontent and UBS for providing books online. We would have several other tie-ups in areas of travel, entertainment and music with Indian and international players," Adhikari said.

As part of plans to become application services provider (ASP), HCL Infinet is already in dialogue with banks including HDFC Bank. "ERP is another area of ASP for which we have plans to tie up with SAAP and Microsoft," the HCL Infinet chief said.