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History of Financial Technologies (India) Ltd., Company
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Union Budget 2017-18
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Financial Technologies (India) Ltd. Company History and Annual Growth Details


The Company was incorporated on 12th April, 1988.


The Company set up an unit in the Madras Export Processing Zone, which
was ready for commercial production on 7th February, 1990. The Company
had a technical and financial collaboration with Worldwide Technologies
Inc., USA which came to an end on 19.10.1990.


For sale in the Indian market, the Company set up an unit in Pallavaram
in September, 1991 and has also set up yet another factory at
Reddiarpalayam, Pondicherry. Thus, the Company had three manufacturing
facilities at:

1. Madras Export Processing Zone - For manufacturing of Modems for
export (capacity: 1250 modems per shift per month).

2. Pallavaram at Madras - For manufacture of Modems for the Indian
market (capacity: 300 modems per shift per month).

3. Reddiarpalayam at Pondicherry - For manufacture of Modems for the
Indian market (capacity: 300 modems per shift per month).

All the above manufacturing facilities are for the manufacturing of the
same products, modems and other data communication products. the
manufacturing facilities at the Madras Export Processing Zone have been
idle from the time of inauguration of the factory due to paucity of
export orders. The Madras factory has subsequently been taken over by
Complete Business solutions (India) Pvt. Ltd. (formerly known as Total
Business Solutions India) Pvt. Ltd.). Complete Business Solutions
(India) Pvt. Ltd. has taken over the export obligation of the Company.
MEPZ has given the permission for the transfer of the factory to
Complete Business Solutions (India) Pvt Ltd. and is in the process of
debonding the Company's materials.


The Company has set up facilities at Pondicherry which has become
operational from 1.10.1994 as all the relevant approvals, i.e. excise
clearance, factory registration certificate, etc. have been received.

All these factories are in rented premises. One of the objectives of
the public issue is to acquire land and construct building at
Pondicherry, so that the factory at Pondicherry can be relocated to
owned premises. The Company is in the process of identifying a site
for the proposed factory.

Complete Business Solutions (India) Pvt Ltd was converted into a public
limited company in Aug.'94


In Feb.'95, it made a Rs 2.25-cr public offering, at a premium of Rs
20, to mobilise funds for expansion and re-location of existing
manufacturing facilities and acquisition of infrastructure facilities.

The emergence of Internet (launched by VSNL), screen-based trading on
all stock exchanges, branch connectivity and greater visibility of
E-mail operations will give a great boost to the company's products.

The company is diversifying the product range to include high-end
networking products such as terminal servers, print servers, X-25 pads
and routers. It has been appointed as the national distributor for
Wipro products. It is also negotiating with a foreign company to
represent video conferencing products and ISDN products.


During 1996-97, the modem market has moved by 33.6Kbps which is
presently highest speed as per approved standards and very soon 56Kbps
will hit the market. The company has also developed a 6U Modem Card and
obtain Type approval from TEC.


In July, 99, the company changed its name to Nods Worldwide (NWL)


As a reorganisation process, the company involved in the demerger of
its hardware division to a new company 'Worldwide Infocom Ltd'(WIL).
Inorder to add sharholder value, WIL decided to simultaneously merge
with 'Compuage Electronics Ltd'(CEL). CEL is a leading distributor of
products and peripherals in Information Technology field with a
turnover of Rs.160 crores for the year end 31st March, 2000 and hence
the name of WIL has been changed to 'Compuage Infocom Ltd'(CIL).

The High Court approved the scheme of amalgamation of Electronic
Broking Services Ltd (EBSL) with the company. ESBL is an application
service provider in the field of online trading of stocks, shares,
commodities, metals etc., and has already set up the neccessary
infrastructure for this purpose. The merged entity was called
'e.Xchange on the Net Limited'.


-Financial Technologies baged Vadodara Stock Exchange subsidiary deal to deploy integrated trading platform for its wholly owned Exchange Subsidiary, VSE Stock Services Ltd.

- Multi Commodity Exchange of India (MCX) has now become a wholly owned subsidiary of the company.

-Signed a deal to implement its integrated Dealing Room Technology Solution for DSP Merrill Lynch.


-Financial Technologies and Hutch India have together launched what they called the first wireless Internet mobile dealing desk through the Orange wireless service in Mumbai on April 29, 2004. Called 'i-Win', this facility provides stock market and trading facilities to Hutch and Orange GPRS mobile phone users.

-Financial Technologies India Ltd has informed that Multi Commodity Exchange of India Ltd (MCX), a subsidiary of the Company and the Tokyo Commodity Exchange (TOCOM) would be entering into an Agreement of mutual co-operation on November 4, 2004.

-Financial Tech, Hutch launch stock trading desk on mobiles


-Financial Technologies entering into a strategic tie-up with Nokia

-Financial Technologies - MCX entering into strategic alliance with LME

-Financial Tech launches subsidiary arm Financial Tech


-Financial Technologies raises USD 100 million by way of FCCBs
-Financial Technologies wins Deloitte technology India & Asia-Pacific awards.

-Financial Technologies - MCX signs MoU with Zhengzhou Commodity Exchange (ZCE)


-Financial Technologies acquires 1% stake in NSE

-Financial Technologies & PTC India Ltd to launch Indian Energy Exchange Ltd


-Financial Technologies - Acquisition of 90% stake in ICX Platform (Pty) Ltd. (ICX), Johannesburg, South Africa

-Financial Technologies (India) ltd has informed that: 'Acquisition of 90% stake in Audit Control & Expertise Global ltd (ACE) Group-U.K'.


- Financial Technologies (India) Ltd has appointed Mr P R Barpande as Additional Director (Non-Executive & Independent) on the Board of the Company with effect from August 11, 2010.

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