L&T may up Satyam stake if Sebi eases norms: Sources

RELATED NEWS Open offer norms in India need a change: JR Varma ALSO READ See latest News about Larsen See previous management interviews See what other Experts & Brokerages are saying about Larsen Larsen BSE | NSE 25/05/12 Are Mutual Funds betting on Larsen? Other Stocks in this news Mahindra Satyam |

Helion Venture Partners today announced an investment of Rs. 20 crores in GETIT Infoservices (P) Ltd. GETIT is the leading producer of yellow pages and directories in India and now offers integrated digital and print offerings in the local search and classifieds space.

 

GETIT currently publishes yellow pages, buying guides and business directories in over 35 cities and had originally pioneered the concept of yellow pages in India. Its services are also available online, on WAP and through its 24x7 telephone information services across India.

 

Commenting on the investment, Rahul Chandra, Director at Helion Advisors Pvt. Ltd., "GETIT is the clear leader in the print directories space. Coupled with its new digital offerings, we believe GETIT's presence in the market place with thousands of advertisers is a key differentiator. Helion's participation in GETIT is born of this belief that GETIT will be able to continuously bring to market innovative and scalable solutions." 

 

Sidharth Gupta, CEO of GETIT Infoservices says, "We chose to partner with Helion because we have immense faith in their exceptional management team. We are confident that together we will be able to build a very strong organisation and a vibrant brand - which will be the leader in the search and classifieds space."

 

With increased admittance to technology, consumers are seeking frequent and quicker access opportunities to information. This is where local search companies, with a strong trustworthy brand, which offer relevant and accurate information to consumers through multi-platform delivery, are in a position to foster strong relationships with local merchants and the end consumer. GETIT satisfies all these criteria and in addition has a national presence and significant scale.

 

"We are confident that GETIT, with its leadership and management bandwidth, will successfully transform from the leading print player to an integrated media solutions provider both in the local search and classifieds space. Helion is very interested in this market and our investment will be directed towards expanding GETIT's service offerings across multi-access channels," adds Rahul Chandra. 

 

GETIT has recently launched its all new print offerings with the release of its new buying guides in Bengaluru. According to the company, soon GETIT's integrated digital products will be brought to the market to offer significantly improved user experience.

 

As a result of this investment, Rahul Chandra, Director at Helion Advisors Private Limited will join the board of Getit Infoservices Pvt. Ltd. 

 

Reacting to SEBI's Press Conference, L&T said, "We await formulation of pricing guidelines by SEBI. Till that time, we cannot comment."

 

Sourced From: Genesis Burson-Marsteller