History of Punjab Wireless Systems Ltd.
YEAR EVENTS 1975 - Punjab Wireless Systems Limited [PUNWIREs] was incorporated on 26th June, 1975 as a wholly owned subsidiary of Punjab State Industrial Development Corporation [PSIDCs], a state level development financial institution of Punjab Government. The Comp. is engaged in the manufacture & sale of wireless communication equipment.
1992 - The Comp. accessed the latest Japanese technology to launch a new range of futuristic cordless & feature phones.
- The Comp. undertook to expand the production capacities of existing products & introduce new products. It was proposed to broad band its existing product lines with the introduction of new series of VHF radio, secrecy equipment, HF Transreceivers feature phones, cordless phones etc.
- The Comp. undertook to diversify into manufacture of digital relay equipment time division multi access equipment, data and fax modems & multi access radio systems.
- Main plant and machinery comprising SMD pick and place machines, wave soldering machines, walk-in environmental chambers etc. were procured.
1993 - The Comp. issued 26,93,600 shares to promoters. 37,55,000 No. of equity shares were issued at a prem. of Rs 30 per share of which the following were reserved for allotment on a preferential basis: [is] 1,94,000 shares to employees [all were taken ups]; [iis] 7,51,000 shares to Mutual Funds [all were taken ups]. Balance 28,10,000 shares to the public.
1994 - The Comp. entered into a tie-up with Samsung Corporation, Korea for manufacture of Pagers & with Kenwood for New range of radio products & with Skydata, a Comp. owned by Samsung for manufacture of VSAT terminal equipment.
- The Comp. issued 22,00,000 warrants to PSIDC on private placement basis entitling the holders to apply for one equity share at a prem. of Rs 80 per share. Accordingly 22,00,000 share were allotted.
1995 - The Comp. entered into a joint venture with Telia, Sweden, with Beep-A-Call Israel & with Motorola International Development Corporation USA for paging & trunking services.
- The Comp. entered into technical collaboration with Bendix King Inc. USA for technical know-how including manufacturing process.
- The Comp. has technical agreement with Japan Radio Co., Japan for manufacture of TDMA for complete knowledge, technical know how for manufacture & supply of design & drawings etc.
- The Comp. has a technical collaboration agreement with work Microwave Co. Japan for manufacture of radio relay & in return for services, they were paid DM 769000 as technical fees. The Comp. also has collaboration with Nuvo Inc. USA, for manufacture of modems.
- The Comp. developed 2 way wireless products in collaboration with Kenwood Japan apart from a complete range of feature and cordless phones.
- The Comp. got licence to operate wide area paying services in 12 states. These licences were being implemented under the companies viz. Punwire Paging Services limited and Punwire Mobile Communication limited The Paging services are marketed under the oral name `Page Me'. The Comp. also got the licence to operate VSAT services.
1996 - 30,67,000 No. of equity shares issued on private placement basis to FIIs at a prem. of Rs 30 per share 22,00,000 shares issued at a prem. of Rs 80 per share on excercise of warrants to PSIDC. Another 14,65,700 No. of equity shares issued on excercise of warrants at a prem. of Rs 80 per share.
1997 - It was proposed to launch Thompon phones by September end. These would include bedroom phone, fashion desk phone, slim line phone, full performance speaker phone, cordless speaker phone & answer phone.
1998 - The Comp. tied up with Gilat to offer Distance Learing System to various customers in India & the divices were to be installed by January.
- The Companies viz. Punwire Trunking Services limited and Procall Ltd. were implemented to provide service under the brand name 'Teamlink'.
- Punwire Telecom Services Ltd., Punwire Paging Services limited & Punwire Financial Services limited are subsidiaries of Company.
- It has recently entered into an agreement with Scientific Atlant for sales, servicing, & manufacture of its broadband network products in India.
1999 - The company, which was predominantly in manufacturing and supply of two-way radios to police & para-military forces, has now expanded to earth stations for video uplinking, tactical communications equipment for defence, VSAT & distance learning products & services, SDH optical & microwave equipments, wireless local loop products, trunking & consumer products such as pagers & telephones.
- Punwire has ventured into telecom services in a big way. These include paging, VSAT & radio trunking services. Its paging service under the Page Me brand is India largest, with operations in 151 cities.
- Punwire plans to offer value-added services like e-commerce, virtual private network, multimedia messaging, distance education, on-line shopping, etc. & intends to focus on the corporate sector.
2001
-Sanjay Dalmia-promoted DSS Mobile Communications Ltd, has agreed in principle to acquire the Punjab state government backed Punjab Wireless Systems Limited paging Comp. Punwire Paging Services limited
- Crisil has revised its rating to the fixed deposit programme from `FD' to `NM' & NCDs from `D' to `NM'.
