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| Cargill Ventures to Invest in KPIT Cummins Cummins Infosystems has entered into definitive agreement with Cargill Ventures to issue shares of $4.5 million on a preferential basis, in addition to warrants convertible into shares of upto $4.5 million. Cargill Ventures is a venture capital arm of Cargill, a privately held company with operations in 63 countries and revenues of over $75 billion. Cargill Ventures is a diversified growth-capital investor across the information technology, life sciences and industrial technology sectors. KPIT Cummins will issue shares on a preferential basis to Cargill Ventures at a price determined in accordance to the Securities and Exchange Board of India Guidelines for preferential allotment of shares. The warrants, also issued in accordance with SEBI guidelines, will be convertible into shares at the end of 18 months from the date of issue based on certain parameters. write your comments about the article :: © 2007 Computing News :: home page |