New Delhi, May 4: MWomenInfoline.Com Ltd, formerly known as Mudra Consultants Ltd, on Wednesday announced it was acquiring 50 per cent equity stake in Indianastrology.com, a Web portal developed by Future Point Pvt Ltd. "The board of directors of M WomenInfoline.Com has approved the company's plan to acquire 50 per cent stake in the astrologyportal," the company's chairman Ashok K Gadiya told newspersons here. Gadiya, however, refused to give details of the amount involved in the acquisition.M WomenInfoline plans to pump in Rs 15 crore in a phased manner to develop the astrology portal. Thereafter, it may also go for venture capital funding. The astrology portal will now be promoted under a new company India Astrology Pvt Ltd, floated and held equally by the two partners -- M WomenInfoline and Future Point.
M WomenInfoline is the promoter of a women's portal womeninfoline.com, while Future Point is known worldwide for its Window-based astrological software driven by Microsoft ActiveX technology named LEO-99, which gives the predictions on the basis of the Indian Vedic system.
While earlier M WomenInfoline. Com introduced the concept of eFamily to facilitate its eCommerce activities by appointing women franchisees, it now plans to set up a venture capital fund through the contributions of women franchisee members after a year.
The company also plans to foray into E-commerce, domain name registration and Web hoisting facilities through the astrology portal.
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