Data Access to offload stake

new delhi: delhi-based internet service provider data access india is planning to offload part of equity to a carrier company next year. the company is currently in talks with other players including a global carrier company. the company has already mandated arthur andersen to do the due dilignece and valuation of dai, managing director of dai siddhartha ray said.dai will discuss the matter at its board meeting scheduled to be held on december 6. but the actual offloading will take place after the company gets the international long distance licence which it will apply soon after the guidelines are out, he said. in the equity structure of dai, spa enterprise holds 51 per cent with pacific cyber centuryworks holding 49 per cent. "in the process of unlocking the value, each of the partners will be offloading equal percentage in case the new partner is an indian one," he said declining to specify the percentage that would be offloaded. he said that if the new partner was a foreign one then the equity to be offloaded would be guided by the foreign equity cap norms. currently the foreign equity cap stands at 74 per cent for isps with their own gateways and in case of data access the number of gateways is pegged at 11. dai is aiming to achieve break-even this month, according to ray.