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Polaris promoter takes 45% in Maveric for $2 m
Ashu Kumar
New Delhi : Promoter of Polaris Software, Mr Arun Jain has invested $2 million in Chennai-based consulting firm, Maveric Systems Limited. According to the executive director of Maveric, Mr Bikash Mathur, Mr Jain is one of the founders of Maveric and has decided to retain a 45 per cent stake in the company. The investment will be made in Maveric as part of his share of equity on a premium and the funds will be brought in as and when required by the company, he added. Maveric is a Chennai-based e-consulting and incubation company incorporated in June this year with an equity base of Rs 1 crore. The company has been spawned by a group of six consulting professionals who own the remaining 55 per cent equity in the company. Maveric is already incubating projects in multimedia, education and digital imaging spaces. A new project called Maveric Multimedia is at its inception stage, in which, Bollywood star, Shar Rukh Khan is picking up a stake. The company is also working on a digital imaging project called,FunJini and a teachers training project called Pratyannyaya. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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