IndusInd to
float IT firm
George Cherian - Mumbai, Friday Aug 31 2000
INDUSIND Enterprises, a part of the Hinduja group, is setting
up an IT company that will focus on the development of banking
and financial software, electronic payment gateways and
a high-bandwidth transaction network spread across 33 cities.
IndusInd Enterprises will hold 55 per cent of the paid-up
equity of the new company while IndusInd Bank and Hinduja
Finance will hold 15 cent and 5 per cent respectively.
"The balance 25 per cent will be offered to a foreign partner
that has strong IT capabilities," said a source.
The new company, IndusInd Information Technologies will
have an initial paid-up capital of Rs 16 crore.
|
|
|
|