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Melstar Information Technologies Ltd.

BSE: 532307 Sector: IT
NSE: MELSTAR ISIN Code: INE817A01019
BSE 00:00 | 21 Sep 4.49 0.21
(4.91%)
OPEN

4.49

HIGH

4.49

LOW

4.30

NSE 00:00 | 21 Sep 4.50 0.20
(4.65%)
OPEN

4.50

HIGH

4.50

LOW

4.30

OPEN 4.49
PREVIOUS CLOSE 4.28
VOLUME 15300
52-Week high 4.49
52-Week low 1.64
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4.49
CLOSE 4.28
VOLUME 15300
52-Week high 4.49
52-Week low 1.64
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Melstar Information Technologies Ltd. (MELSTAR) - Company History

Melstar Information Technologies (MITL) was incorporated in August 1986 as a private limited company under the name of Sifa India Pvt. Ltd thereafter the company was converted into a public limited company in July 1994 and changed its name to present one. Promoted by SIFA GmbH West Germany and Patel Group of Bombay MITL manufacturers exports imports buy sell and deal in electronic systems information technology including consultancy computer hardware software development infotech services enterprise solutions out-sourcing and facility management internet E-commerce etc.In 1993 the company diversified into software exports and has been exporting mainly to USA Italy Switzerland etc. It further diversified into manufacture of electronic products such as calculators blinkers etc in 1994-95. The company also established a branch office in London on May 1998. Melstar Inc is a subsidiary of MITL located in USA. In July 1999 Melstar Industries (MIL) was amalgamated with the company in terms of scheme of amalgamation sanctioned by the Hon'ble Bombay High Court.The Company made its initial public offer in January 2000. it acquired Linkhand Ltd and its two subsidiaries and also acquired 100% of the equity of Global System Development Inc. in the US. The Company also incorporated subsidiaries in UK Germany and Singapore.The company is expanding its software development divisions within and outside India. As a process of integration and restructuring the Company plans to amalgamate all the multiple subsidiaries in the U.S. and U.K. The Company also plans to expand the existing offshore centres and set up new centres to meet the growing offshore demand. Since the subsidiaries in Germany and UK are inoperative the company is taking steps to close the subsidiaries.The Company has been awarded the SEI-CMM Quality Level III certificate in April 2001.

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