BoA to invest $100 m. IT sector

BANGALORE: Bank of America is planning to invest around $100 million in the IT sector in next six months in India. Speaking about the same, David P. Loseff, Managing Director, Banc of America Equity Partners-Asia, said, " We are looking at IT and Telecom sector in India for investments and we are intend to take equity stake in the Indian IT and Telecom companies. We would be investing around $100 million in next 6 to 8 months."

As part of its global investment strategy, Bank of America keeps aside around $1.5 billion every year for the investments. For coming 2-3 years, it would be investing around $300 million in Pharma, Telecom, Software development companies in the Asia region. It is said that Bank of America has equity holding in DSQ and Siri Karya Systems. According to the sources, Bank holds around 27 per cent stake in Siri Karya Systems.