History of GTL Ltd.
1987
- The Comp. was incorporated on 23rd December as a private limited company & was converted into a public limited Comp. on 12th September, 1991. It was promoted by Manoj Tirodkar, G.R. Tirodkar and Fritz D'silva.
- The Comp. manufactured telecommunication products. It extended its range of products to include fax machines, modern key telephone systems, wireless mobile telephone systems, V-Band Viax instant access communication systems etc.
- The Comp. undertook distribution & servicing of telecommunication products. Subsequently, the Comp. entered into tie-ups with Tata Keltron Ltd., India Telecomp limited & internationally with V-Band Corporation USA, Lane Telecommunication limited UK etc. Whole range of sophisticated instruments were introduced.
- The Comp. set up seven service centres all over the countries, three in Mumbai, one each in Delhi, Bangalore, Chennai & Nagpur.
- The Comp. proposes to have modern testing equipments to test the printed circuit boards. Equipments such as PCB diagnostic equipments, LCR sortester, distortion meter & level meter etc. were procured.
1993
- 12,00,000 No. of equity shares of Rs 10 each issued to promoters, directors, their relatives etc. 18,00,000 No. of equity shares of Rs 10 each were then issued at par in April 1992 of which 90,000 shares reserved for allotment on preferential basis to employees. Balance 17,10,000 shares issued.
1994
- During April-May, the Comp. issued 17,06,250-15% secured fully convertible debentures of Rs 35 each for cash at par on Rights basis in proportion 1 deb: 2 equity shares held. Another 28,95,000 - 15% debentures of Rs 40 each were issued through the prospectus as follows:
- [is] 18,71,250 debentures to promoters, directors etc. on preferential basis; [iis] 2,50,000 debentures to ICICI on firm basis. Of the remaining 50,000 bedentures were issued on preferential basis to employees. Balance 7,23,750 debentures were issued to the public.
- Part A of Rs 10 of each debenture was converted into 1 equity share of Rs 10 each after 6 months from date of allotment. Accordingly 46,01,250 shares allotted.
- Balance Rs 30 [Rs 25 in case of Rights issues] was converted into 1 equity share of Rs 20 [Rs 15 in case of Rights issues] after 17 1/2 months from date of allotment of debentures.
- On 10th October, the Comp. issued 70,00,000 warrants to promoters, their friends & associates companies. Warrantholders exercised their right to convert these into 70,00,000 No. of equity shares at a price of Rs 50 per share.
1996
- 2,00,000-17.5% cumulative convertible preference shares of Rs 100 each were allotted during the year on private placement with Bajaj Auto limited These have a maturity period of 18 months.
- International Global Tele-Systems Ltd., [IGTLs] is a subsidiary of the Company. Mauritius & Elber Trading Pvt. limited is a subsidiary of IGTL.
1997
- The Comp. made foray into software development & Export. The company started executing I-Trade CommNet & Logistics Tracking System [LTSs] projects. The I-Trade CommNet aims to establish electronic exchange of information & documents which is currently being exchanged manually amongst the entities of cargo community in India by using Electronic Data Interchange [EDIs] technology.
- The Comp. issued FCCBs worth Swiss Francs [SFrs] 60,000,000 & out of these the Comp. had received FECBs worth SFr 2,30,000 for conversion into equity shares.
- Accordingly SFr 2,00,000 were converted into 64026 shares on 30.6.1997 & another SFr 2,00,000 were converted into 64026 No. of equity shares on 11.7.1997. In addition 73,630 No. of equity shares were issued at a premium of Rs 79 per share on conversion SFr 10,000.
- On 29th August, 1,28,052 No. of equity shares were allotted at a premium of Rs 79 per share on conversion of SFr 10,000. Another 3201 No. of equity shares at a premium of Rs 79 per share were issued on conversion of SFr 10,000.
- Global Tele-Systems limited [GTLs], has signed an agreement with National Securities Depository limited [NSDLs], to get its securities admitted for dematerialisation.
- GTL has signed Bipartite Agreement with NSDL to the effect that the shares of GTL would be available for dematerialisation process and first private sector telecom Comp. to do so. With this, the shareholders of GTL would be in a position to hold equity shares in electronic firm.
- The Comp. has strategic alliances with Samsung Corporation and Muratec for their range of fax machines, Northern Telecom for its range of PBX, Ericsson for cellular phones & turnkey solutions, Nokia for turnkey cellular projects, Maxon for cordless phones & Alcatel for turnkey projects & fibre-optic solutions.
- Global Telesystems Ltd has tied up with Iscor of US to provide advanced integration products like fax systems, E-mail equipment and electronic data interchange [EDIs] in India.
- The Comp. has also been awarded a contract from Tata Communications for running a quality audit of its telecom towers for cellular network in the Andhra Pradesh circle.
1998
- Global Tele-Systems Ltd has introduced for first time in India the GC 455, a two-line cordless phone.
- Global Tele-Systems has also launched its GC 477 cordless phone with digital answering machine. It has two voice mail-boxes for separating personal messages & business messages, 25-channel auto selection, intercom, & voice day/time announcement at the beginning of each message.
- GTSL had recently tied up with the US-based GE Information Systems, under which the companies will together develop a source code, on which applications would be developed & exported.
- The Comp. has entered into alliances with AFNET, which will distribute all of AFNET traffic into India, & with UNIFI Communications to distribute fax traffic.
- In June, the Comp. placed privately 5,000,000 Equity Shares of Rs. 10/- each for cash, at a premium of Rs. 95/- per share.
- Mr. Sadanand D. Patil & Prof. Sudhakar C. Sahasrabudhe were appointed effective from 5th September, & Mr, Dipak K. Poddar was appointed on 27th October, as Additional Directors.
- During the year under review, 2,00,000 Cumulative Redeemable Preference Shares of Rs. 100/-each aggregating Rs. 2 Crores which were placed privately with Bajaj Auto limited had been redeemed at par.
1999
- Global Tele-Systems, which is a part of Rs 500-crore Global group, has tied up with UK-based Silverslate International Ltd, for its software & Internet business group for providing specialised telecom solutions.
- The Mumbai-based Global Tele-Systems Ltd has entered into a strategic partnership with the US-based General Electric General Electric Information Services [GEISs].
- Microsoft Corporation of USA has recently certified Global Telesystems Ltd [GTLs] as competence centre on Internet & e-commerce businesses. GTL has thus become the only Comp. in India to have been accorded this status.
- The Comp. has issued 2,00,000 Cumulative Redeemable Preference Shares of Rs. 100/- each aggregating Rs. 2.00 crores. These Preference Shares have been placed privately.
2000
- The Comp. has allotted 4981295 No. of equity shares at a premium to FCCB holders consequent upon exercise of right of option for conversion of FCCBs worth Swiss Francs 1070000.
- The Comp. has signed a MoU with Vysya Bank limited in connection with utilisation by Vysya Bank limited of e-commerce payments processing infrastructure of company.
- The Comp. is launching a state-of-the-art call centre at Mahape in Navi Mumbai in October for servicing large off-shore firms.
- The International Global Tele-Systems limited of Mauritius, the wholly-owned subsidiary of Global Tele-Systems, is acquiring an undisclosed equity stake in The Voice Comp. based in the UK.
- IGTL has entered into a joint venture with Al-Nasser LLC in the Middle East for engineering services. It has also acquired a strategic stake in an international telecom value added service provider i.e. The Voice Comp. Pte. Ltd.
- Oracle Software India Ltd., the wholly owned subsidiary of Oracle Corporation of US entered into a strategic tie-up with the Global Tele-Systems limited for addressing the high growth application service provider market in the country.
- The Comp. has allotted 35,000 No. of equity shares under ESOP upon exercise of right of option for conversion of warrants.
- The Comp. has proposed to acquire an unlisted Comp. Global Electronic Commerce Services limited in its bid to create the largest e-commerce entity in the country.
- The Comp. allotted 30,496 No. of equity shares of Rs 10 each for cash at a premium in terms of employees stock option scheme upon exercise of right of conversion of warrants into equity shares by the employees.
- The Comp. had acquired two software companies - Thermax Systems and Software, an associate of Thermax group & Fine Infotech, a company focused on banking products - in a Rs.15 crore all stock deal.
- Global Tele Systems has allotted 85,000 equity share of Rs.10 each for cash at a premium in terms of employees stock option scheme upon exercise of right of option or conversion of warrants into equity shares issued under the scheme into equity shares.
- The Comp. allotted 83474 No. of equity shares of face value of Rs. 10.
- The Comp. has entered into an MOU for a joint venture with Enron to build a state-of-the-art fibre optic broadband network.
- The Comp. received a Silver Plaque from the Institute of Chartered Accountants of India for Best Presented Accounts for entries received from non financial private sector companies for year 1998-99.
- Mr. Manoj G. Tirodkar, Executive Vice Chairman, became the first Indian to win the World Young Business Achiever Award for year 2000 in Orlando, USA, from Worldcom, USA.
- The Comp. has received letter from T. Rowe Price Associates, Inc., for acquisition of shares of company. Shareholding of T. Rowe Price Associates Inc. in the Comp. on behalf of itself & its subsidiaries, has gone up to 38,26,675 shares, 8.79% of te paid up equity share capital of company.
- Amalgamation of Global Electronic Commerce Services limited with the company. will be at the ratio of one equity share of GTL [Rs 10 eachs] for every six of GECS.
- The Board of Global Electronic Services & Gloal Tele-Systems have approved a share-swap ratio of 6:1 after the merger of two companies.
- Enron India has tied up with Global Tele-Systems & Maharashtra State Electricity Board for connecting major towns in the state through optical fibre network using power transmission lines.
- Global Tele-systems is all set to acquire 100 per cent equity of Thermax Systems and Software, an infotech Comp. belonging to the Pune-based Thermax group.
- Issue of Allotment of 1,00,000 No. of equity shares of the shareholders of Thermax Systems and Software limited in terms of Scheme of Acquisition of bsiness of company.
- The Comp. has 856,375 outstanding warrants issued its employees as of September 30, under ESOP scheme.
- The Comp. has signed a `professional services agreement' with Cisco System Inc., world leader in the networking technology for the Internet.
2001
- The Comp. has entered into MoUs with several leading banks for providing ASP & Technology & software Support, & activities related to that continue un-affected.
- Allotment of up to 2,65,28,600 equity shares to the shareholders of Global Electronic Commerce Services limited on amalgamation with the company.
2002
-GTL has won the Goldeb Peacock Award for Excellence in Corporate Governance in the private sector category.
-GTL Board has approved for allotment of 5000 warrants to the eligible employees under the Employee Stock Option Scheme.
2003
-GTL Board has approved for scheme of merger of Redington Mauritius Ltd with the company.
-The board of directors of GTL have approved for proposal for issue of fresh equity of 14.3cr shares at the price of Rs.150 per share to the Chanrais.
-Mr.Vijay N Paranjpe has relinquished officer as whole time director and director of company.
-GTL Ltd & Tata Teleservices has been shortlisted by Andhra Pradesh government to manage the information assets created by state as part of its e-governance initiatives.
-GTL Ltd has entered into partnering agreement with GBS. LLC premier Enterprise Wide Outsource provider based in the US.
2004
-GTL Ltd appoints Dr Michael Clark as the Chief Executive Officer wef July 3, 2004.
- Alcatel partners with GTL for enterprises business in South Asia
2006
-GTL Ltd has appointed Mr Manoj G Tirodkar as Chairman and Managing Director [CMDs] of Company,
