Tracmail looks for strategic investors
By siliconindia staff writer   |   Wednesday, 31 March 2004, 20:30 IST
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MUMBAI: Tracmail, a Mumbai-based voice & email help-desk call centre services firm, is looking for strategic investors. According to sources, Reliance Infocom has expressed interested in buying Tracmail's Mumbai operations. Tracmail, which merged its operations with Webhelp and Spherenomics in October ’03 to form TWS Holdings, has been facing a financial crunch of late. Sources said Tracmail had been forced to take over both companies to save its projects, despite their bad financial health. Tracmail's call centre work is undertaken at its Navi Mumbai facility, which has a capacity of over 700 seats and used to employ close to 1,000 people. It runs help-desk services for customers like HP and Palm. The centre has been facing attrition, and the staff strength has come down to 840. “The company re-aligned some of its web-based programmes. Some employees have quit the company, while a few others tried their luck with voice testing,” said sources. “There is some panic among employees, after their January salary was delayed, Some are on a lookout for a new job.” TWS Holdings’ investors, post merger, include CIBC world markets and Insight Capital Partners, View group, eTec Ventures and Tracmail promoter Adi Cooper. Tracmail's old investors — Viewgroup, eTec Ventures and the firms' promoters held 40%, 30% and 30% respectively in the firm, prior to the merger. However, the new shareholding pattern post merger is not known.

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