NEW DELHI, 26 May 2000 (Asia Pulse) - India's MicroLand Group plans to raise US$10
million for its Internet company ITspace.com and is talking to
various institutional investors including GE Caps and ICICI
Ventures for this.
The group is also looking at making one of
its subsidiaries public by March 2001, a senior company
official said. "We plan to go for the first round of funding
for our technology portal ITspace.com by June this year to
raise seven to ten million dollars. We would approach the
group's existing institutional investors for the placement,"
Pradeep Kar, chairman of Microland Group said.
investors in Microland's various group companies include Chase
capital, GE capital, ICICI Ventures, NewsCorp and IL&FS, Kar