Rediff Planning For An IPO In India?
By Nikhil Pahwa - Tue 10 Jul 2007 10:24 AM PST
CNBC-TV18 aired a speculative story today that claims that Rediff is planning to list in the Indian markets. The channel claimed that a team headed by Rediff CFO Joy Basu is evaluating plans for an IPO in India. CEO Ajit Balakrishnan said that though Rediff does not need the money, the company will look at listing in the home country, though they haven’t decided on when to list. Moneycontrol has more here.
Of Rediff’s profit of $6.99 million last year, $3.7 million was from Interest income, from money left over from the IPO. Well, more interest income wouldn’t be bad, I guess…
Posted in: Companies, Rediff, JV & Investment, Portals
