Indus Venture To Pick Up 30 % Stake In Indigo

Indus Venture will pump in $2.5 million as fresh equity into Indus Technologies. In fact the entire company will be re-organised as it will also involve the merger of a US subsidiary with the Indian company.

US-based Indigo Technologies Inc will now be merged with the Indian entity to form a single company. After the merger with the foreign company, the equity base of the company will go up to Rs 5 crore, up from the current Rs 3 crore.

Indigo Technologies has been jointly promoted by Chandra Balraman, a US-based NRI and Technology Development Information Company (TDICI) of India.

In 1996-97, the company expects to achieve a turnover of Rs 20 crore. The company will concentrate on three key business areas - consulting, services and new technologies.