New Delhi, 14 th April, 2005:
IndiaCo, a high technology private equity investment firm based out of Pune announced today, that it will pick up a strategic stake in Delhi based Visesh Infotecnics Limited. IndiaCo has applied for 5,00,000 Convertible Warrants, to be converted into 1 equity share each of Visesh Infotecnics Ltd. at a price of Rs. 50.00 each (including a premium of Rs. 40.00 per share). This development comes close on the heels of California-based Duke Special Situations Fund L.P. acquiring a stake in Visesh Infotecnics Ltd. last month.

Mr. Rahul Patwardhan, the President & CEO of IndiaCo commenting on the development said, “IndiaCo has always played a role beyond capital; our commitment to work with enterprises is that of a long-term strategic investor.

IndiaCo is a firm believer in intellectual property and in companies that build/create products. We consider these ingredients to be crucial for long-term profitability of the enterprise.

IndiaCo is committed to the long-term goals of Visesh and will be happy to work with the management of Visesh in building enterprise and stakeholders value.”

IndiaCo Ventures is the only for-profit business incubator in the world to be supported by the World Bank's Infodev program - an initiative which has spawned the development of over 20 incubation initiatives spread across 20 emerging economies.

MD and CEO of Visesh Infotecnics Ltd. said, “IndiaCo is a highly respected, professional and globally networked organization with a successful track record of working with high technology companies. We look forward to the value add through this strategic investment by IndiaCo in the form of strategic and tactical planning, intellectual property management, introductions to customers and technology partners around the world. Their active participation in Visesh would act as a catalyst in realizing our long term business objectives and global aspirations.”