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Jain Studios spins off Net wing as Jain Networks

22-December-2000
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Jain Studios spins off Net wing as Jain Networks

Jain Studios will spin off its Internet services division, Jain Internet, as a separate company by early next year. The company has already renamed Jain Internet as Jain Networks. The company is rolling out its Internet services in 85 Indian cities in the next one-and-a-half year’s time. Jain Networks is investing over Rs 200 crore in its expansion plan. The company is exploring various options to raise the funds, including private placements, debt etc. The company has already lined up investments from Hewlett Packard, which is investing Rs 45 crore for various projects undertaken by Jain Internet under the e-services platform. To expand to 85 locations, it is talking to various small ISPs in these locations for co-branding and co-marketing alliances. Following the rollout of narrow band services in the country, the company will gradual migrate its network to a broadband network. The company is also in the process of setting up an Internet data centre with 24 hours secured access with automatic and manual security control. The data centres will provide share hosting, dedicated hosting, rack space, data backup and disaster recovery among other services. Jain Networks is also setting up two gateways for payment and bandwidth at Noida.

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