S Kumars to invest Rs 1,000 cr in e-com network

November 30: S Kumars group company S Kumars.com (SKC) is setting up a Rs 1,000 crore V-Sat network spanning 1008 cities and towns in the...

November 30: S Kumars group company S Kumars.com (SKC) is setting up a Rs 1,000 crore V-Sat network spanning 1008 cities and towns in the country to facilitate internet transactions. The first phase of the project is expected to be completed by the middle of the next year, Managing Director R N Bhaskar said on Tuesday.

SKC has come out with an initial public offer ( IPO) in November last and is listed on the Pune Stock Exchange. The Rs 75 lakh issue was at par. The proceeds of the issue will be used for part-financing the project, Bhaskar said. SKC will invest Rs 100 crore in the project and the rest will be brought in through franchisees and partners, chairman Vikas S Kasliwal said.

The company has plans to rope in a significant number of retailers from the 30,000 strong network of the parent textile firm for this purpose. "These franchisees will operate public kiosks with PCs linked via satellite," the company said. The franchisees would accept payments on behalf of SKC and take orders.

Unlike other internet portals, however, SKC will charge for placing classifieds on its site. Browsing will be free. Education and trading of goods will be the two other major revenue sources for the firm, initially. So far, it has tied-up with 15 content partners and 10 business partners. "Each retailer will make Rs 25,000 per month from the portal," Bhaskar said adding that revenue will be shared between the retailer, the partner and SKC.

H-1B visa fee hike, US H-1B visa policy, $100000 H-1B visa fee, India response to H-1B fee, humanitarian impact H-1B visa, Indian government on H-1B, Randhir Jaiswal H-1B statement, Indian IT companies H-1B visas, Infosys H-1B approvals, TCS H-1B visa employees, Wipro H-1B visa applications, HCL H-1B workforce, US visa restrictions 2025, H-1B visa deadline September 21, Microsoft H-1B travel advisory, Amazon H-1B visa holders, JP Morgan H-1B guidance, H-1B visa program abuse, Indian skilled workers in US, USCIS H-1B data 2023

‘I don’t know what awaits me in the US’: The lives upended by Trump’s H-1B proclamation

India7 hr ago

The recent imposition of a $100,000 fee on H-1B visas by Trump has caused chaos and uncertainty for Indian families in Dubai, leading many to rush back to the US. This has particularly affected Telugu-speaking Indians, with the Telangana IT Minister seeking intervention from the Centre.

View all shorts

Live Blog