“This is a strategic tie-up under which Intel Capital will be investing Rs 32 crore to subscribe to warrants which can be converted into equity in up to 18-months,” Allied’s Chairman and Managing Director, Nitin Shah, told PTI.
Once converted into equity, Intel Capital will hold close to a 3 per cent stake in the company, he added.
The investment from Intel Capital will make Allied Digital a “cloud ready” company and also help it expand into newer geographies in South-East Asia, Europe and the Middle-East courtesy Intel Capital’s relationships, he said.
(Published 27 September 2010, 15:27 IST)
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