mjunction to dilute up to 20% stake to PE players (February 11, 2008, The Economic Times)

MUMBAI: Leading e-commerce player mjunction Services, a 50:50 joint venture between Tata Steel and SAIL, is planning to dilute up to 20 per cent stake in the company to private equity players.

The e-trading company intends to use the fund to acquire a minority stake in a financial services company and a logistics services company apart from completely acquiring one publishing and content business.

"We are in talks with a couple of overseas PE firms to offload 10-20 per cent stake in the company. I hope the deal will be signed in the next four to five months," mjunction's Managing Director and CEO Viresh Oberoi told PTI here today.

Oberoi said the company has also plans to list in the capital market but not in the immediate future.

mjunction, which recorded a business volume of a little less than Rs 8,000 crore last fiscal, is expected to make it to around Rs 11,000 crore by the end of the current fiscal, Oberoi said.

Source: http://economictimes.indiatimes.com/Infotech/ITeS/mjunction_to_dilute_up_to_20_stake_to_PE_players/articleshow/2774437.cms

We are now mjunction

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Viresh Oberoi, Managing Director and Chief Executive Officer, mjunction services limited

Over the years we have grown in every respect - services, people, reach, infrastructure and revenue. As we continue to grow and add value to the supply chains we serve, we have broadened our horizons beyond the world of steel and metals.

We thus felt that the time was ripe to give ourselves a new name, a new identity to reflect our metamorphosis. So we heralded the new year with a new brand name and logo, and we have become mjunction services limited from metaljunction services limited. Other business units under the mjunction umbrella continue to have identities of their own.

Though our name has changed, and our horizons widened, our values haven't. We will continue to bring greater efficiency, convenience and transparency to even more supply chains in the future with the innovative use of IT and the Internet.

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