Interesting private equity investment by Warburg Pincus in solely India based web marketing firm Webshastra.

"Webshastra aims to be India's leading provider of online media advertising solutions to publishers, advertising agencies and advertisers. Headquartered in Bangalore, Webshastra would subsequently create an online media-buying vehicle for the advertising industry in India.

Webshastra plans to leverage technology and media expertise to unleash the power of the Web for branding, selling products and building relationship with customers. We hope to make advertising work on the web," says Vinod Nambiar, managing director of Webshastra."

There seems to be an extraordinary cash flow in the company. Warburg Pincus is also invested in Indian companies Rediff.com, indiamarkets.com, Bharti Televentures, HDFC, Nicholas Piramal and UTV.