History of Himachal Futuristic Communications Ltd.
1987
- The Comp. was incorporated on the 11th May, as a Public limited Comp. & obtained the certificate of commencement of business on the 13th July. It was incorporated in the state of Himachal Pradesh. It was promoted by Dr. Deepak Malhotra, Mahendra Nahata & Vinay Maloo. The Comp. manufacture Analog and Digital Subscriber/Carriers Systems & other Telecommunication Systems.
- The Comp. undertook to set up a project for manufacture of 1+1 & 1+7 Analog Subscriber Carrier Systems with a total capacity of 15,000 lines per annum.
- The Comp. entered into a technical collaboration agreement with M/s. Seiscor Technologies Inc., U.S.A., for manufacture of 1+1 & 1+7 Analog Subscriber Carrier Systems.
- For the manufacture of Digital Subscriber Carrier System, the Comp. signed a Memorandum of Undertaking with Philips Kommunikation Industries AG of Germany.
- 1+1 Analog Subscriber Carreir System [ASCSs] will enable DOT to give one additional telephone connection over one pair of cables and 1+7 Analog Subscriber System will enable DOT to give 7 additional telephone connections over one pair of cables.
- A letter of Intent was received from DOT for supply of 1+1 and 1+7 Analog Subscriber System. Also, another letter of intent was received from Mahanagar Telephone Nigam Ltd., for 1+1 ASCS.
- All shares taken up by promoters, directors, etc. including 86,700 shares allotted to HPSEDC.
1988
- 8,30,000 shares issued at par of which 1,80,000 shares were reserved & allotted to promoters, directors, etc. The balance 50,000 shares offered to the public in February 1989 [all were taken ups].
1990
- In July, 15,00,150 rights shares issued at par in prop. 3:2 [all were taken ups]. Additional 2,25,000 shares allotted to retain oversubscription. Simultaneously, another 75,000 shares issued at par to employees, etc., but only 1,600 shares taken up. Balance 73,400 shares allotted to Canfina.
1991
- The Comp. proposed to undertake manufacture of additional products like digital subscriber carrier systems, digital multiplexers & long-line equipments.
- The Comp. implemented the backward integration project to reduce the dependence on foreign suppliers thereby bringing about not only reduction in cost of production but also savings in foreign exchange.
- The Comp. promoted two new companies viz., Himachal Telematics Ltd., at Solan for manufacture of digital microwave radio transmission equipments & fax machines & Microwave Communication Ltd., for establishing radio paging network in certain important cities of country.
- Himachal Telematics Ltd., proposed to be merged with the Company subject to necessary approvals being obtained from the concerned authorities.
1993
- 98,00,875 right equity shares allotted in prop. 7:2, at a prem. of Rs 20 per share. Unsubscribed 6,00,000 shares allotted to Secured India Investment Fund BV. 10,00,000 shares allotted to Financial Institution, Mutual Funds, promoters etc.
1994
- The Comp. embarked upon a marsive expansion-cum-diversification plan for manufacture of digital microwave radios of various bands, digital multi access relay radio, cellular handset, fibre in lock lop & optical line terminal equipment.
- The Comp. embarked upon a massive expansion-cum-diversification plant for manufacture of Digital Microware Radios of various bands, Digital Mulliaccess Realy Radio [DMARRs], Cellular handset, fibre in lock loop & optical line Terminal Equipments.
- The Comp. acquired an existing investment Comp. 'Kaldev Trader and Investment limited [name subsequently changed to HFCL-Trade-Invest Ltd.s] & 'Coubndge Construction [Delhis] Ltd.' Subject to necessary approvals being obtained the company proposed to amalgamate with itself Himachal Telematics Ltd.
- Himachal Telematics Ltd., is promoted by Comp. for the production of Digital Microwave.
- Microwave Communication Ltd., is promoted by Comp. in collaboration with Shinawatre International Public Co. Ltd., of Thailand for provision of Radio Paging Services at Mumbai, Calcutta, Ahmedabad, Baroda, Surat and Rajkot.
- Himachal Exicons Communication Ltd., a joint venture promoted by the Comp. with Exicons of Australia for manufacture of high technology telecommunications equipment using Exicon technology for marketing in India.
- The Comp. also entered into agreements with telecom giants viz., Kong Song Communication and Electronics Co. Ltd., Korea to manufacture radio pagers & satellite video receivers, Dalcons Corporation of Korea for managing credit card information services, with vanguard communication Corporation & International wireless communication USA for setting up and operating Mobile Radio Trunked services & other mobile communication services in India & neighbouring countries and with Wireless Telecom Ltd., USA to implement V-sat services.
- The Comp. issued 53,76,345 GDRs at a price of US $ 9.30 per GDR. 215,05,380 No. of equity shares underlying these GDR were allotted. [GDR = 4 equity sharess].
- 60,00,000 No. of equity shares on a preferential basis to FIIs, Indian mutual fund, promoters & their associates. 5,00,000-11.5% cumulative redeemable Pref. shares issued on private placement basis.
1996
- The Comp. proposes to introduce into its product range cellular Radios from 7 Ghz to 23 Ghz & data rated from 2 MB to 16 x 2 MB.
- It was also decided to provide single window turnkey solutions to telecommunication needs, at the Company expanded product range the Comp. could provide equipment, instal and commission, provide network support systems etc.
- 2,50,000 Pref. redeemed.
1997
- Himachal Futuristic Communications Ltd [HFCLs] is all set to become the first manufacturer of cellular phones in India.
- The Comp. will be launching the country first indigenously-manufactured mobile phone & a range of pagers by August this year.
- Himachal Futuristic Communication Limited [HFCLs] has bagged a contract to set up an information super highway for basic telephone project of Essar Commvision Ltd in Punjab circle.
- The court order has said that the DoT did not issue the letter of intent [LoIs] to HFCL-Bezeq Telecom Ltd [HBTLs] within the bid validity period & had failed to at as per tender conditions.
- Under the contract Satellite Communications Limited [HSCLs], a HFCL group company, will link Essar project sites between Mumbai, Hazira, Jamnagar & Delhi through its state-of-the-art demand assigned multiple access [DAMAs] based VSAT services.
- The Comp. has been awarded the contract by Essar to set up a fibre optic backbone in Punjab.
- Himachal Futuristic Communications Ltd [HFCLs] has become the first Indian Comp. to venture into the highly competitive and MNC-dominated market for manufacture of cellular handsets.
1998
- Himachal Futuristic Communications Ltd is entering the information technology business with a focus on offering software solutions to the telecom industry. A new division has been set up within the Comp. to tap the sector business potential.
1999
- Himachal Futuristic Communications Ltd [HFCLs], the telecom equipment manufacturing company, has forayed into software exports. The Comp. has developed a state-of-the-art facility at Delhi for this purpose.
- Issues relating to letters of intent [LIs] issued to Himachal Futuristic Communications Ltd [HFCLs], Basic Teleservices and Techno Telecom for basic services will also be referred to the Attorney-General.
- Himachal Futuristic Communications Ltd [HFCLs], a Delhi-based telecom equipment manufacturer, has bagged a contract from Reliance WorldTel for setting up Internet backbone in Tamil Nadu.
- Himachal Futuristic Communications limited have already signed MOU with seven states. The cost of setting up backbone network in each state is to the tune of $100 million.
- The Comp. has set up cellular networks in Delhi, Punjab, Tamil Nadu & Gujarat & network for basic services in Rajasthan & Punjab.
2000
- The Comp. has taken its first big leap in the doctom business by acquiring a 45 per cent stake in online shopping mall jaldi.com from Satin Credit and Leasing Ltd for an undisclosed amount.
- The Comp. & Publishing & Broadcasting limited have formed a joint venture Comp. called HFCL-Nine Broadcasting Pvt., Ltd.
- The Comp. proposes to raise the limit on foreign institutional holdings in the Comp. to 40 percent.
- The Management of Comp. has decided to disinvest its entire shareholding of 3,49,99,500 shares of Rs. 10/- each in Fascel limited the sales will be at a premium of Rs. 10/- per share.
- Telecom equipment & services Comp. Himachal Futuristics Communication is in talks with global elecom majors for an alliance to set up their manufacturing base in India.
- The Comp. & Australia Kerry Packer group company Consolidated Press Holdings has bagged the ISO-9001 quality certification within six months of its operations.
- The promoters of Comp. have acquired 38 lakh shares in the city-based IVRCL Infrastructures and Projects limited a construction major having presence mostly in western and northern India.
- A joint venture between the Comp. & Kerry Packer-promoted, Consolidated Press Holdings, has joined hands with Stemcor, one of the largest steel trading giants & iSteelAsia, the business-to-business steel marketplace, to float the joint venture, iSteel India.
- The Comp. allottment of 15,76,809 No. o fequity shares and 55,88,841 No. of equity shares of Rs 10 each to Ecom.Com limited on April 10, & June 24, respectively at a premium of Rs 1,440 per share.
2001
- The Comp. has entered into an alliance with Cisco Systems Inc, to offer Cisco data products & networking equipment to telecom infrastructure providers in India.
- HFCL Infotel Ltd., a fully owned subsidiary of Himachal Futuristic Communications has tied up with the Punjab government for implementing a private network of both voice & data as part of state e-governance initiatives.
2002
-GTB recalls all short-term loans amounting to Rs.185cr from HFCL.
-HFCL bags the prestigious World Bank Funded Project in association with Thales for putting in place a system of comprehensive national radio spectrum management & monitoring systems.
2003
-HFCL sells 3.43% stake to M/s Transatlantic Corporation.
-HFCL embarks upon the business restructuring exercise aimed at improving effeciency at all levels by remaining focussed on the business.
-ICICI Bank converts part of its loan into 12.65% stake in the company
- Converted 32 Foreign Currency Convertible Bonds [FCCBss] of US S 50,000 each into 6259144 equity shares at a price of Rs 11.70 per share. The issued & subscribed capital has been increased by 6259144 equity shares & stands at 290919303 equity shares of face value of Rs 10/- each.
2004
-Converts 19 Foreign Currency Convertible Bonds [FCCBss] of US$ 50,000 each into 36,79,017 equity shares at the price of Rs. 11.70/- per share.
-HFCL sets up new co for applications development
