We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (108)2/11/2000 11:04:00 AM
From: stock4U  Read Replies (1) | Respond to of 494
IC touch $32.00 .

More to come.

To: Mohan Marette who wrote (108)2/11/2000 11:32:00 AM
From: SouthFloridaGuy  Respond to of 494
ICICI plans holding co for its dotcoms along lines of
Sourav Mukherjee & George Cherian
IT IS clearly a case of mind over matter. ICICI is drawing up
ambitious plans to float a new holding company for all its
business-to-business (B2B), business-to-consumer (B2C),
consumer-to-consumer (C2C) ventures on the lines of
US major CMGI Inc.
The new company, which will initially be a 100 per cent
subsidiary of ICICI, will subsequently raise funds through an
international listing on Nasdaq and/or placement of equity shares
to strategic foreign partners.
Parent ICICI will, however, continue to directly hold stakes in all
non-e companies within the group.
The project is part of ICICI chief KV Kamath?s dream to become
the czar of the Indian internet space and the largest domestic
provider of finance and other skills to Indian brainpower.
CMGI Inc, a Nasdaq-100 company, is in the business of creating
and managing the largest and most diverse network of internet
companies in the world. Compaq, Intel, Microsoft and Sumitomo
hold minority positions in the US company.
Among the 60-odd dot companies that CMGI has acquired or
built include household names like AltaVista , HotLinks , Lycos ,
Engage , AdForce, Critical Path, NaviSite , Silknet Software,
Chemdex , MotherNature and CarParts.
These holdings are bunched into four sub-groups of marketing
and advertising, content and community, e-commerce and
enabling technologies companies.
The new CMGI-type structure is aimed at unleashing maximum
value from all its in-house portals and consolidating all
internet-related companies within a more synergistic structure.
This will, however, exclude ICICI Infotech which is more focused
on providing all the technological backbone for the group.
ICICI insiders said that an Indian CMGI has been on Kamath?s
mind ever since he stepped on the gas a few months back to
make ICICI the most e-friendly and e-exposed group in the
country. This new-found avatar has already sent ICICI group
shares on a roll with both the ICICI and ICICI Bank scrips
touching new 52-week highs.
ICICI has already announced the launch of a joint venture with
Satyam Infoway for e-retailing ( ), a web trading
portal ( ) and an e-commerce payment gateway
(in collaboration with a Compaq-led consortium). It is also
drawing up plans to float a host of other financial and
non-financial portals besides looking at acquisitions on this front.

When contacted, ICICI officials were very tight-lipped on the
move. However, analysts said that the move would help unleash
immense shareholder value besides spread wealth across the
group?s employees and shareholders. All ICICI group employees
connected with the growth businesses are being compensated
for their work through stock options in these companies. The
unleashing of greater value through the holding company will also
come as a boon to ICICI shareholders as all gains made by the
new subsidiary would accrue to ICICI?s consolidated balance
?If ICICI?s strategy is closely monitored, it is making the best of
all opportunities. Very soon its internet business will be valued
several times over its traditional business of lending. At the same
time, the presence of so many ventures will enable ICICI
to cross-sell its products to a larger segment of netizens,? said
an analyst.