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Patels Widecom (India) Ltd.

BSE: 517364 Sector: Others
NSE: PATWIDECOM ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Patels Widecom (India) Ltd. (PATWIDECOM) - Company History

Promoted by Madhusudan Patel and Rahul Bijlaney in collaboration with Widecom R&D, Canada, Patel's Widecome (India) came out with a public issue in Sep.'93 to set up a plant to manufacture the widest and fastest fax machines -- Widefax. Widefax is an unique fax machine, scanner, copier, copier and plotter which can transmit 36 inches documents, drawings, snaps, blueprints, newspaper layouts, etc. Immediately after the public issue in 1993, the collaborator-promoter took over the complete contribution made by the Indian partners on grounds of improper management. The present stake of the collaborator is 51% and it is seeking government approval to increase it further. Due to these developments, the plant, which remained idle since Sep.'93, was transferred from Pune to NEPZ, Noida, in 1995. Production commenced in Jan.'96. Since Jan.'96, the company has exported to Thailand, the UK, Italy, etc, in addition to its collaborator in Canada.