The Comp. was incorporated on 12th April, 1988.
The Comp. 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 & financial collaboration with Worldwide Technologies
Inc., USA which came to an end on 19.10.1990.
For sale in the Indian market, the Comp. set up an unit in Pallavaram
in September, 1991 & has also set up yet another factory at
Reddiarpalayam, Pondicherry. Thus, the Comp. had three manufacturing
1. Madras Export Processing Zone - For manufacturing of Modems for
export [capacity: 1250 modems per shift per months].
2. Pallavaram at Madras - For manufacture of Modems for Indian
market [capacity: 300 modems per shift per months].
3. Reddiarpalayam at Pondicherry - For manufacture of Modems for the
Indian market [capacity: 300 modems per shift per months].
All the above manufacturing facilities are for manufacturing of the
same products, modems & other data communication products. the
manufacturing facilities at the Madras Export Processing Zone have been
idle from the time of inauguration of factory due to paucity of
export orders. The Madras factory has subsequently been taken over by
Complete Business solutions [Indias] Pvt. limited [formerly known as Total
Business Solutions Indias] Pvt. Ltd.s]. Complete Business Solutions
[Indias] Pvt. limited has taken over the export obligation of Company.
MEPZ has given the permission for transfer of factory to
Complete Business Solutions [Indias] Pvt limited & is in the process of
debonding the Company materials.
The Comp. 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 objectives of
the public issue is to acquire land & construct building at
Pondicherry, so that the factory at Pondicherry can be relocated to
owned premises. The Comp. is in the process of identifying a site
for the proposed factory.
Complete Business Solutions [Indias] Pvt Ltd was converted into a public
limited Comp. 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 & re-location of existing
manufacturing facilities & acquisition of infrastructure facilities.
The emergence of Internet [launched by VSNLs], screen-based trading on
all stock exchanges, branch connectivity & greater visibility of
E-mail operations will give a great boost to the company products.
The Comp. 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 Comp. to
represent video conferencing products & ISDN products.
During 1996-97, the modem market has moved by 33.6Kbps which is
presently highest speed as per approved standards & very soon 56Kbps
will hit the market. The Comp. has also developed a 6U Modem Card and
obtain Type approval from TEC.
In July, 99, the Comp. changed its name to Nods Worldwide [NWLs]
As a reorganisation process, the Comp. involved in the demerger of
its hardware division to a new Comp. 'Worldwide Infocom Ltd'[WILs].
Inorder to add sharholder value, WIL decided to simultaneously merge
with 'Compuage Electronics Ltd'[CELs]. CEL is a leading distributor of
products & peripherals in Information Technology field with a
turnover of Rs.160 crores for year end 31st March, 2000 & hence
the name of WIL has been changed to 'Compuage Infocom Ltd'[CILs].
The High Court approved the scheme of amalgamation of Electronic
Broking Services Ltd [EBSLs] with the company. ESBL is an application
service provider in the field of online trading of stocks, shares,
commodities, metals etc., & 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 [MCXs] has now become a wholly owned subsidiary of company.
-Signed a deal to implement its integrated Dealing Room Technology Solution for DSP Merrill Lynch.
-Financial Technologies & 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 & trading facilities to Hutch & Orange GPRS mobile phone users.
-Financial Technologies raises USD 100 million by way of FCCBs.
-Financial Technologies wins Deloitte technology India and Asia-Pacific awards.