MUMBAI, May 27: Seat Spa of Italy is planning to hike its equity stake in Sesa Seat Information Systems (SSIS) Ltd to 70 per cent from the current level of 40 per cent stake.

The company has applied to the Foreign Investment Promotion Board (FIPB) for hiking the stake in its Indian venture. Sesa Goa holds 16 per cent of the equity and the remaining 44 per cent is held by the public. The company's current capital base is Rs 1.5 crore, In the meantime, Sesa Seat Yellow Pages Plus was officially launched by Stefano Colferal, Chairman of Sesa Seat and Chief of Seat International Division.

It is said to cover a total number of 1,500 industries, with value added features like an alphabetical index.. ``

The company has targeted a circulation of 6.15 lakh for the first year. The present combined volume in all the Indian cities amounts to nearly three million copies. The company is poised for an increase in annual turnover from Rs 15 crore in 1996 to Rs 25 crore in 1997,'' Colferal said.

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