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Orbit Multimedia Ltd.

BSE: 532091 Sector: Services
NSE: N.A. ISIN Code: INE471C01029
BSE 05:30 | 01 Jan Orbit Multimedia Ltd
NSE 05:30 | 01 Jan Orbit Multimedia Ltd

Orbit Multimedia Ltd. (ORBITMULTIMEDIA) - Company History

Orbit Airfreight (OAL) was incorporated on 6th Oct.'95 as a public limited company and commenced its business form 10th Oct.'95. It has been promoted by Samir Shah, C Mathew, Anil Koshti, Clarence Fernandez and Rajesh Sabhachandani. The main activities of the company are freight handling and general financing. It now proposes to venture into the express service industry. For this purpose, OAL has identified three main segements, viz, documents, business samples, and merchandising and warehousing. For the surface distribution, the company will have its own fleet of commercial vehicles. OAL now plans to set up a super hub at Ahmedabad and Bombay which will include centralised communication and administration facilities and also to upgrade and develop technology and quality of services of the company by creating on-line computer based linkage between major Hubs at Ahmedabad, Bombay and other key centres of the company. To part finance the cost of acquisition, development and setting up of the above mentioned facilities, it came out with a public issue in Aug.'96 for 66,60,000 equity shares at par aggregating Rs. 6.66 crs.