Question: Regarding transfer of iStreet Bazaar project to subsidiary?
Ans: The Board of Directors of the company is seeking an approval from the shareholders of the company to transfer iSB project to its subsidiary at an opportune time.
We have been meeting with various venture capital funds and private funds, people from large companies to be as our team member, technology companies etc. who like iSB project but express their inability to participate in a listed company due to their internal restriction and regulatory requirement like acquisition, convertibility time lines of any instrument etc.
Should there arise an opportunity of where someone getting participated in the project iSB in the form of capital, team, technology etc., the Board is ready to take a decision and there shall be no delay and the opportunity is seized immediately.
The valuation for investment by Venture Funds and Private Equity Funds are on different parameters like – the concept, existing and potential customer base, technology engine etc. which are normally not captured in the market traded valuation. As, the transfer is proposed to happen to a wholly owned subsidiary, the advancement of the Project and the benefit reaping from it will continue to reflect for the holding company shareholders as well.
The below link shares management interview on business and growth plans.
http://smallcapvaluefind.blogspot.in/2015/09/management-conversation-with-istreet.html
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