INDIA BUSINESS WORLD - OCTOBER 21^st - NOVEMBER 15^th - 2007

INDIACO VENTURES BUYS 21% STAKE IN LASER COSMETICS

Private equity player Indiaco Ventures said it has acquired 20.83% stake in Laser Cosmetics. The company has also subscribed 25% in preference shares of Laser Cosmetics, Indiaco Ventures said in a communique to the Bombay Stock Exchange. The company now holds 1.5 lakh shares of Rs 10 each out of the total 7.20 lakh shares and 12,500 preference shares of Rs 100 each out of the total 50,000 preference shares of Laser Cosmetics. All the formalities for the acquisition has been completed, Indico Ventures informed. Indiaco provides capital (investment), direction and operational expertise in distinct asset classes for select identified industry verticals.