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Visesh Infotecnics + Sical Logistics Funding

November 29, 2007

Visesh Infotecnics is declared has a winner in the Deloitte Technology Fast 50 India 2007 program a ranking of the 50 fastest growing technology companies in India. This was announced during the Deloitte Technology Fast 50 India 2007 ceremony held at Taj Mahal Hotel & Resorts, Mumbai on 22 November 2007.

Sical Logistics has received approval from the Government for investment to be made by Old Lane Mauritius IV , an investment vehicle of Old Lane India Opportunities Funds (Old Lane). It is aimed to fund the growing infrastructure business of the company and Sical’s newly formed subsidiary Sical Infra Assets.

Old Lane Mauritius IV will be issued compulsorily convertible debentures (CCDs) worth $26 million in Sical Infra, which will subsequently be converted into equity shares of Sical Infra.

Sical Infra was formed to house Sical Logistics’s asset-heavy, capital-intensive, longer gestation infrastructure based businesses like the road and rail terminals at Nagpur, Sical iron ore terminal at Ennore, the container rail project, the container terminals at Tuticorin and Chennai in joint venture with PSA Singapore as well as Sical Distriparks.

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