Singapore-based trading and investments firm Kawamin Pacific has acquired a 5 percent stake in Allindia.com – an Internet and Web consultancy firm of the Calcutta-based Vedika Group - for a consideration of Rs 3 crore. Kawamin Pacific, which is a trader in non-ferrous metal, was recently valued at around Rs 60 crore by Ernst & Young. This is Kawamin Pacific’s maiden equity investment in the IT arena.

Allindia.com plans to offload another 20 percent in the company to a US-based Internet infrastructure and services company during the next three months. However, company officials declined to reveal the identity of the proposed equity partner, but indicated that talks were at an advanced stage.

The company is also planning to go for an IPO in the near future. However, company officials were tight-lipped on the possible date for the IPO.

Allindia.com’s community site batchmates.com boasts of an online membership of 2.2 lakh and is planning to offer various services to the members in tie-ups with brick and mortar companies. It is also planning to sell some products and conduct lucky draws from the website. According to company sources, daily registrations of batchmates.com are growing by over 600 a day. It has also recently launched another community site called companymates.com.

Allindia.com is not solely dependent on ad revenues, as the main revenue flows from the Web consulting unit, and sites like batchmates.com.