Financial Daily from THE HINDU group of publications
Thursday, Dec 19, 2002
Financial Daily from THE HINDU group of publications Thursday, Dec 19, 2002 |
|
|
|
|
|
Info-Tech
-
Venture Capital WDC outfit gets Rs 2.25-cr venture funding Ambar Singh Roy
KOLKATA, Dec. 18 CONVERGENCE Contact Centre Pvt Ltd (CCC), a Web Development Company (WDC) promoted outfit engaged in call centre operations, has received venture capital funding of Rs 2.25 crore from SIDBI Venture Capital Ltd and West Bengal Venture Fund. While Rs 1.25 crore has been received from SIDBI, West Bengal Venture Fund contributed Rs 1 crore. Stating this during an interface with Business Line here, the Executive Director of WDC, Mr Harsh Hada, said the proceeds from the venture capital funding would go towards meeting part of the expenses incurred in the setting up of a 120-seater call centre in the Salt Lake complex here. Technology partners for the project include IBM, Nortel, HCL, Emerson and WorldCom. The total investment in the call centre project has been pegged at Rs 9.5 crore. Besides the venture capital funding, a term loan of Rs 4 crore has also been obtained. The rest of the project cost is being met through promoters' contribution. CCC has also issued Optionally Convertible Preference Shares, which shall be converted into equity shares based on the EPS in 2004 and 2005. The call centre has already enlisted among its clients four US-based companies, on whose behalf it would be engaged in back office operations, According to Mr Hada prospective clients in the UK would be tapped from March next year. While the call centre is presently operating one-and-a-half shifts a day, the idea is to operate two full shifts daily within the next few months. The project is expected to generate revenue of Rs 15 crore within the first full year of operations, according to Mr Hada. The call centre would leverage on WDC's expertise in niche technologies and focus on servicing similar and related industry segments.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|