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Inspirisys Solutions Ltd.


Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE020G01017 | SECTOR: Computers - Software Medium & Small

BSE Live

Jun 18, 16:00
57.95 2.05 (3.67%)
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    57.95 (100)

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    57.85 (650)

NSE Live

Jun 18, 15:46
57.65 1.90 (3.41%)
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Company History - Inspirisys Solutions
The Accel group commenced operations with Accel Limited, which was
 incorporated in 1991. Accel Limited became a public limited company
 and changed its name to Accel Automation Limited in July 1997. Accel
 Limited was involved in the business of third party maintenance
 services for IT products. In December 1993, Accel Limited acquired
 the PC manufacturing facilities of Kothari Information Systems
 Limited, Bangalore and shifted operations in 1996 to Pondicherry.
 Accel Limited acquired Atreya Technologies and Industrial Development
 Private Limited, Delhi and the services business of Network Limited,
 Delhi in June 1996 and April 1997, respectively, to benefit from
 their service networks in relation to telecom/IT equipment. In 1997,
 we tied up with a leading international mobile phone manufacturer to
 be its exclusive national service partner in India.
 Our Company was incorporated in the State of Tamil Nadu on June 08,
 1995 in the name of Accel Computers Limited as a public limited
 company. The Registration No. U30006TN1995PLC031736 was assigned to
 our Company. We obtained our Certificate
 of Commencement of Business on June 22, 1995. The name of our Company
 was changed to Accel ICIM Systems & Services Limited pursuant to the
 acquisition of the systems and engineering services (SES) business of
 Fujitsu ICIM Limited and we received a fresh Certificate of
 Incorporation dated October 21, 1999. Subsequently, the name of our
 Company was changed to Accel ICIM Frontline Limited, as part of the
 strategic equity investment made by Frontline in order to leverage
 Frontlines name in its business operations in India and abroad and
 we obtained a fresh certificate of incorporation dated August 27,
 2004. The
 name of our Company was again changed to Accel Frontline Limited, as
 under the name license agreement dated October 11, 1999 between
 Fujitsu ICIM Limited, Accel Limited and our Company, the name ICIM
 could be used solely for the SES business and not in relation to
 other IT businesses undertaken by our Company. We obtained a fresh
 certificate of incorporation dated November 3, 2005. The registered
 office of our Company was shifted from SFI Complex, No.179
 Valluvarkottam High Road, Nungambakkam, Chennai 600 034 to III Floor,
 No. 124, Nelson Manickam Road, Aminjikarai, Chennai 600 029 on April
 3, 2000.
 We commenced operations in 1995 and in 1996 established a
 manufacturing facility for computer systems, in our factory at
 Pondicherry. In 1997, we diversified our operations by starting a
 software development unit in Chennai to offer software solutions for
 domestic enterprises. In order to expand its operations nationally,
 our Company acquired the systems and engineering services business of
 Fijitsu ICIM Limited with effect from January 1, 1999. As part of an
 internal consolidation exercise in fiscal 2000, we acquired the
 computer services operations from our holding company, Accel Limited
 to create a system integration company with operations in hardware,
 software and services. In June 2001 in order to meet our business
 expansion plan, our Company received strategic venture capital
 funding from ICICI Venture Fund Managment Company Limited through
 certain funds managed by them and from Intel. In July 2003, we
 acquired the banking software solutions business from TVS E
 Technology Limited, Chennai. In 2003, we started a separate business
 processing unit to provide warranty outsourced services and acquired
 the mobile phone warranty services buniness of Accel Limited. In
 October 2003, our Company took over the software development unit of
 Trinity Infosys India Private Limited which was specializing in SMS
 services and other wireless applications. We also expanded our
 software business in the Asia Pacific regions by incorporating two
 wholly owned subsidiaries in Singapore and Dubai. With the growth in
 the IT services industry and infrastructure services, the sector has
 seen an influx of many players. We face competition from the large
 MNC players as well as regional / local players in various
 geographies, including the unorganized sector players. In order to
 further strengthen our technology and business operations in the Asia
 Pacific region, our Company entered into a strategic partnership with
 Singapore based Frontline Technologies Corporation Limited
 (Frontline). Frontline is a public limited company listed on the
 Singapore Stock Exchange and having operations in seven countries in
 the Far East region including China, Malaysia, Thailand, Hong Kong,
 Taiwan, Phillipines and Singapore. As on the date of filing this Red
 Herring Prospectus, Frontline Technologies Corporation Limited, is
 the single largest
 shareholder in our Company. For more details on Frontline
 Technologies Corporation Limited, please refer to the section titled
 Promoters beginning on page 98 of this Red Herring Prospectus.
 For a brief overview on our financial statements for the last five
 years, please refer to the section titled Selected Financial
 Information beginning on page 7 of this Red Herring Prospectus.
 History and Major Events
 March      1991:  Accel group commenced operations
 January   1999:  Acquired the systems and engineering services
 division of Fujitsu ICIM Limited
 April         1999:   Acquired the systems and services division of
 Accel Limited
 January   2000:  Certified ISO 9001:2000 for its manufacturing
 facility in Pondicherry
 April         2000   Wholly owned subsidiary set up in Singapore
 May         2001   Commenced operations in Sharjah
 June        2001   ICICI Venture and Intel invested in our Company
 April         2001   Enterprise Software Solutions formed as a
 strategic business unit
 Nove       2001  Bonus issue to shareholders on record date on a 1:1
 October   2002   Wholly owned subsidiary set up in Dubai
 July         2003   Acquired the banking software solutions division
 of TVS E Technologies Limited
 August    2003   Certified ISO 9001:2000 for IT infrastructure
 management services
 October  2003   Acquired the mobile phone warranty outsourced service
 business from Accel Limited
 February 2004:  Acquired SMS and wireless application software
 services business of Trinity Infosys India Private
 June       2004 : Frontline became a strategic partner with equity
 March     2005 : Certified CMMI Maturity Level 5 (optimising) for
 software engineering
 -Company has changed its name from  Accel ICIM Frontline Ltd. to
 Accel Frontline Ltd.   
 - Accel Frontline Limited has informed that Ms. Sweena Nair has been
 appointed as Company Secretary with effect from 2nd January, 2008.
 Ms. Sweena Nair shall be the new Compliance Officer of the Company
 with effect from 2nd January 2008.
 - The Board of Directors of the Company, have declared an interim
 dividend of 15% (Rs. 1.50/- per Equity share) out of the profits of
 the Company for the financial year ended.
 -  Accel Frontline Ltd to acquire Ushus Technologies.
 - Accel Frontline commissions new delivery center in Chennai for
 Remote IT Infrastructure Management (RIM) and Managed services.
 - Accel Frontline Services merges with Accel Frontline Ltd.
 - Accel Frontline inks MoU with Sci Genom to offer software
 development services
 - Accel Frontline joins hands with SciGenom to offer software
 development services for the Life Science sector.
 - The company has appointed Ms. Ruchi Naithani as an Additional
 Independent Director of the company.
 -Accel Frontline Ltd has titled Accel Frontline Awarded Multiple
 Strategic IT Infrastructure Management Contracts.