CCIL acquires 15% stake in SAP Infotech

Chartered Capital and Investment Limited (CCIL), launchers of the accounting and financial business process outsourcing (BPO) Munimjee, has acquired 15 per cent stake as strategic investors in SAP Infotech Private Limited.

Vikram Sanghvi, who was earlier director of CCIL, joined SAP Infotech as promoter, a company press statement stated.

SAP Infotech will be investing Rs 100 million in setting up a 350 seater accounting financial BPO unit at GNFC Tower at Ahmedabad.

The UK based Eura Audit International has a 40 per cent stake in the company while the remaining is with four Indian partners. This SAP company has nothing to do with global information technology major SAP which specialises in enterprise resource planning, said the statement.

Eura Audit is a chartered accountancy and audit firm with 100 associate offices spread over 41 countries. The four Indian promoters are Sahdev Thakur, Amit Somaiya, Sandeep Patel and Chartered Capital and Investment Limited.

In the first phase, a 100 seats facility will begin operations in the first week of August. By November, the remaining 250 seats capacity will become operational, said the statement.

SAP's BPO unit has been named Munimjee and it has started training in computers, English language and UK accounting and auditing standards.

CCIL, backed by experienced professionals, provides merchant banking services, which include management of public or rights issue, takeover or buyback offer, delisting of securities and preferential allotment.

It also offers valuable advisory services in the area of placement of equity, debt, merger, amalgamation, financial restructuring, project management, loan syndication and other allied service.

In merchant banking activities, CCIL's focus is to ensure prompt and absolutely transparent services, which are in the best interest of clients and potential investors.

CCIL is providing entire financial and investment needs of clients at a single point as a one-stop shop.

CCIL, originally incorporated as a private limited company in 1986, was converted into a public limited company in 1994.

As an investment banker, CCIL provides total solutions to corporates desirous of mobilising capital. Its services range from investment research, preparation of offer documents, legal compliance and post issue monitoring.

There exists a long lasting relationship between the client company and the investment banker.