24549 - Indecomm Corporation

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Summary of Proposed Investment

Project Number

24549

Company Name

Indecomm Global Services (India) Private Limited

Date SPI Disclosed

Sep 26, 2005

Country

India

Industry

Telecommunications and Technology

Projected Board Date

Oct 26, 2005

Status

Completed

Sector

Other Services (Including IT Enabled Services)

Department

Gbl Infrastructure & Natural Resources

Environmental Category

C - No Impact

Previous Events

Approved : Dec 9, 2005
Signed : Dec 16, 2005
Invested : Dec 21, 2005

Project Description

Indecomm Corporation (Indecomm or the company) is an outsourcing company located in Bangalore, India that uses proprietary document management technology to provide high quality document and transaction processing services to the financial services industry. The company was founded in July 2003 from an earlier company called TRRS Imaging. The purpose of the project is to provide Indecomm with capital to expand business activities and facilities in India.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	2.60

Development Impact

The Indian technology industry contributes 4.1% to GDP and accounts for more than 20% of exports. Globally the IT products and services markets have been bifurcated but of late are converging. The combination of India’s established presence in the global IT services industry, repository of well trained technical talent and close links to centers of technology innovation such as Silicon Valley offers the opportunity to emerge as a leader in combining software and services with novel business solutions. Indecomm is an example of an Indian firm that offers a better business service by leveraging underlying proprietary technology. IFC will play an important role in offering financing, sound corporate governance, and guidance on business strategy. Furthermore, Indecomm views IFC’s credibility and contacts in the financial community as helpful to its business development activities both in the U.S. and emerging markets.

Indecomm is a category C project according to IFC’s environmental and social review procedures. The company has only leased space and has no immediate plans to construct or purchase a building. There are minimal environmental or social impacts associated with this project. Therefore, no further environmental or social analysis is required.
Location of environmental documents in locally affected community

Contacts

For Inquiries About the Project, Contact

Mr. Paul Asel, Transaction Leader International Finance Corporation South Asia Department 50-M, Shanti Path, Gate No. 3, Niti Marg, Chanakyapuri New Delhi 110 021 India Phone: +91 11 5111 1000

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

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