Saturday, December 31, 2011

Logix Microsystem is coming out of hibernation?

Is it for real.Looks like it is.Some great investor like Ashish Dhavan invested in it are trying to turn the corners of Logix Microsystem.
Friends, What I do here is , I write what I read after analysing it and put my analysis here.Now it is upto readers to decide what they needs to do with it.
It is all luck.Stocks you buy do not run and stocks you thought of buying but were not able to buy runs.

Logix Microsys Plans To Hive Off; Fundraising On Cards?


Public-listed Logix is backed by Ashish Dhawan who has invested in his personal capacity.

Logix Microsystems is hiving off its online platform Carazoo that helps users buy and sell used and new cars. It will be turned into a separate subsidiary Carazoo Online Solutions Pvt Ltd, in a move that may allow the company to raise funds independently for expanding the business of the portal.

Currently, Carazoo is a business division of public-listed Logix Microsystems, a company backed by Passport Capital and also by Ashish Dhawan of ChrysCapital in his personal capacity.

The company’s board has approved the move in a meeting today. It now awaits a green signal from its shareholders.

Although details of the business operations of Carazoo could not be immediately verified, the parent firm had disclosed in the last annual report that income from the Indian portal Carazoo showed an impressive jump of 51 per cent in 2010-11, compared to the previous year. Incidentally, auto portals have been one of the e-com verticals attracting both M&As and money from institutional investors.

In September this year, CarSingh raised an undisclosed amount in its first round of funding from Seeders Venture Capital Pvt Ltd. Founded in January 2010, CarSingh claims to offer the largest selection of used cars inventory from dealers and private sellers, and says that it attracts more than two lakh users per month. It is now planning to expand its operations in used cars market across India, besides focusing on the after-sales market.

Before that, pre-owned vehicle sales portal MotorExchange raised $13 million in a third round of funding, led by Tiger Global Management. Also in 2010, European multimedia company Axel Springer AG and the India Today group acquired 70.4 per cent stake in Automotive Exchange Pvt Ltd (owner of the automotive classified ads portal Earlier in 2011, the MIH Group, a subsidiary of the South African media group Naspers, acquired majority stake in Gaadi Web Pvt Ltd that runs the auto classifieds site Other automotive portals in India include eBay Motors,, and

My Comments:
I remember I talked about Mega Soft sometime back and it has not moved much but I feel some accumalation has started in Mega Soft.
So, it is all patience ......

1 comment:

  1. Its a fraud company, its not paying its employees on time and ex employees have not got their salary from last one year . Sanjay Soni know very well about this issue is and he according to him" he dose not want to pay his employees" and he is sure that none of the ex-employees can do anything against them. Company CEO Ashok Padhaye is also a part part of all this fraud. I want to warn all current employees of this company not to serve notice period and leave it immediately. Also any candidate who has got an offer from this company please reject it immediately. Logix has not given bonus( which is part of the salary ) from last 3 years. its on the verge of closing.