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Chrysalis to take 7% stake in MphasiS
per share in MphasiS BFL. According to a release, the move would result in the
dilution of 7 per cent equity in the company. The offer price represents a
premium of approximately 75 per cent over current levels and of approximately 12
per cent over the prescribed SEBI minimum formulae for a dilution of
approximately 7 per cent. On the decision, MphasiS BFL chairman Jaithirth
"Jerry" Rao said, "We will be using the funds not only to
strengthen our cash and working capital position but also for capital
expenditure in MsourcE - our subsidiary that is focused on Help Desks and Call
Centers." "We are particularly happy that Chrysalis has placed this
confidence in us at a time when the external economic environment is tough. We
look forward to a long and mutually rewarding association with them," he
added. Chrysalis’ Ashish Dhawan will join the MphasiS BFL board. - CIOL Bureau
Compaq leads server share market
BANGALORE: Despite the nagging slowdown and reports of cutting IT
expenditure, Compaq servers has gained market share of 29.6 percent during
January-March 2001 quarter as per IDC India figures. This has placed its
ProLiant range of Standard Intel Architecture Servers as top selling brand in
the server market. According to firm's press release, Compaq shipped a total of
3150 units of the ProLiant range of servers for the first quarter of 2001,
valued at $ 17.8 million, which gives Compaq a 39.2 per cent market share by
value of shipments. Compaq India thus leads its nearest competitor by more than
84 percent in market share by units shipped, and by more than 87 per cent in end
user revenue. The IDC figures reveal that Compaq India has increased its market
share in this segment as compared to the year 2000 from market shares of 24.8
per cent and 36.5 per cent by units shipped and end user revenue. — CIOL
Bureau
Silverline to buy US based CTC Corp
MUMBAI: Indian software services firm Silverline Technologies said on Thursday
its board had approved the acquisition of US-based software and training firm
CTC Corp and its subsidiaries in an all stock deal.
The New York Stock Exchange-listed Silverline said it will seek shareholder
approval for the issue 4.5 million American Depositary Receipts for the
acquisition of CTC and its units. Silverline also said it plans to issue 10
million warrants each convertible into an equity share at a price of 157 rupees,
to one of its founders - Subra Mauritius Ltd.
Silverline shares ended down 5.07 per cent at Rs 77.75 at the Bombay stock
Exchange, while the benchmark index was off 1.35 per cent.-Reuters
HDFC’s interest free loans for Arena students
NEW DELHI: Arena Multimedia, a multimedia education firm with 200 centers in
six countries now offers interest free education loans to Arena students all
over the country. Arena has tied up with HDFC bank to offer interest free loans
to students who gain admission to the institute courses. To avail this facility
the student should submit admission details, proof of identity and residence.
For loans amounts ranging between Rs 20,000 and Rs 1,00,000, the student can pay
easy installments between 12 months and 36 months. In the first year there is 0
percent interest on the EMI and the second and third year offers competitively
easy interest rates to the students. - CNS