Incorporated as Pearl Securities in the second half of 1980, its name was changed to the present one 1995-96. It is engaged in financial activities, wind energy and communications.
A pilot plant of two wind turbines was installed in Tamilnadu which was commissioned in Mar.'95. The company has purchased land in the coastal area of Saurashtra to diversify into this segment with a 12-MW wind farm for captive use as well as for its clients. The company set up such wind farms of 200 MW.
It has tied up with Cannon Power Corporation, US, to substantially harness wind energy in such power projects. There is equally a great potential in the development of infrastructure projects in Gujarat. The company intends to penetrate this area shortly by installing tank farms nearer to the sea ports.
In Aug.'94, Samvaad Communications was merged with the firm according to high court orders. With merger of Samvaad Communications, the company will have its presence in the media with a daily Sambhav and a weekly Investors News. In 1995-96, it issued equity shares to the shareholders of Samvaad Communications pursuant to the Scheme of amalgamation.
In 1995-96 the company has successfully commissioned 31 Wind Turbines of its inagural Wind Power Plant Complex at Mervadar/Dhankat Rajkot District, Gujarat.
The company has severed its association with Cannon Power Corporation,USA. It is now exploring suitabke tie-ups with well established Wind Turbine manufactureres for furthering of its interest in developement of Power Plant complexes.
Furthering the diversification in infrastructure projects, the company has bid for 197 KWH per annum Barge Mounted Thermal Power Plant which is awaiting state government considerations also a project for Power Plant to supply captive power to Pipavav Port for their requirement of approx. 32 million KWH per annum.