New Delhi, Feb 18: The Richard Li-promoted Pacific Convergence Mauritius' (PCM) Indian affiliate Data Access said on Sunday it expects to close the second round of funding with Rs 100 crore for expanding Network of the World (NoW) dial-up service in India and building infrastructure."In the ongoing round of funding, both the Indian and foreign promoters are expected to invest a total of Rs 100 crore for expanding the dial-up ISP operations across the country," company executive vice-president Rajiv Jaitly said.
He said this would take the authorised capital of the company to Rs 200 crore and till now Rs 70 crore has already been spent on upgrading infrastructure and brand building.
Mr Jaitly said the company has taken a conscious decision to focus more on access part of `NoW' since the content portion, which includes NOW TV, NOW.com and NOW-India.com, were being seen as offering premature products to the Indian market.
Mr Jaitly said the ISP service has 65,000 subscribers till now, between Delhi and Mumbai, and it plans to soon expand operations to Chennai and Bangalore, complete with gateways for each new city of operation. The company currently has gateways in Delhi and Mumbai.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
