BSE:500463 | NSE:AGCNETBE | 58888:tale | IND:IT Consulting & Software - Small Cap | ISIN code:INE676A01019 | SECT:IT Software
The Company History page lists out the major events in chronological order for AGC Networks Ltd.
|Company History - AGC Networks Ltd.|
1986 - The Company was Incorporated on 19th August, at Mumbai. The
Company was promoted by Tata Industries Ltd. (TIL).|
- The Company's object is to manufacture electronic private automatic branch exchange (EPABX). The Company also provides certain services such as software integration, installation, commissioning and service support.
- TIL signed a technical assistance and licence agreement and a supplementary agreement with OKI Electric Industry Co. Ltd. (OKI) of Japan. In terms of the collaboration agreement, OKI would provide to the Company know-how for the full range of EPABXs starting from 40 lines for their model IX-10 to the IOX series which goes upto 7,000 lines.
- The agreement also provided for training of the Company's personnel in OKI's factories and for guarantee of OKI for the qualitative and quantitative aspects of EPABXs. The collaboration agreement would be valid for a period of 5 years from the date of commencement of production. The Company were to pay OKI technical assistance fees, documentation fees, etc., and royalty at the rate of 4% on ex-factory sales less value of bought out items as stipulated on the agreement.
1987 - 20 shares subscribed for by the signatories to the Memorandum of Association. 44,99,980 shares then issued at par out of which the following shares were reserved and allotted on a firm basis:
- (i) 26,99,980 shares to promoters, directors etc.,
- (ii) 1,50,000 shares to UTI - (iii) 1,50,000 shares to LIC and
- (iv) 1,50,000 shares to GIC and its subsidiaries. Out of the remaining 13,50,000 shares, 2,25,000 shares were reserved for preferential allotment to employees/workers of the Company but only 10,200 shares taken up. The balance 11,25,000 shares along with the 2,14,800 shares not taken up by employees, offered to the public in 1988.
1990 - New service centres were opened at Guwahati, Nagpur, Pune, Jammu and Baroda.
- The Research and Development unit introduced 2 new EPABXs a 100 line EPABX and a unique `talking' 300 line EPABX. Notable among other products introduced was the Automatic Line Test system that was to significantly improve maintenance and facilities on large EPABX systems such as those used in steel plants.
1991 - The Company had executed a technology transfer and licence agreement with Japan Radio Co. Ltd. (JRC) for 30 and 120 channel digital UHF equipment.
- A joint venture agreement was executed for the establishment of a new company called "Trans India Network Systems Pvt. Ltd.", in technical and financial collaboration with AT & T Network Systems International Inc. USA., for the manufacture of SLC 120 network access systems and associated modules, OPTIMUX and 2Mb/S systems and MAR systems.
- Both AT & T and the Company proposed to take up 50% each in equity capital of the joint venture.
- A new 150 line PABX was introduced. The Research and Development unit had developed several new software packages such as a new call change package and several new features on PABX. A prototype for 10 channel digital UHF equipment was ready and it was under installation.
1993 - The Company issued 56,25,000 No. of equity shares of Rs.10 each at a prem. of Rs.50 per share on rights basis in the prop. of 4:5
- Another 2,81,250 No. of equity shares of Rs.10 each at a prem. of Rs.50 per share were to be offered on preferential basis to the employees, including the working directors of the Company on an equitable basis. Totally 56,78,700 shares were allotted.
- 56,78,700 shares allotted to shareholders and employees on Rights basis.
1994 - The Company introduced latest Digital Paradigm exchanges incorporating state of the art features like ISDN compatibility.
- Also, approval was received from TEC, DOT in respect of new products like ADPCM Transcoder, 20 channel Digital UHF ratio etc.
- The Company entered into an agreement with AT&T Corporation for distribution of Business Communication Products & Voice Processing system to support multi media and data communication application.
- Approvals from DOT were received for various products including 2 MB line system, subscriber loop carrier, optimux, combimux etc. The Company proposed to launch a number of new products in co-operation with Lucent which will provide it with a cutting edge in the Telecommunication Industry.
1995 - The Company also signed a Distributorship Agreement with Ericsson Mobile Communications AB, Sweden and distribution of their cellular phones by the company commenced from March 1996. New Telephones including Spectra T-732, Compact S-510 and Astra 311 and range of cordless telephones were introduced by the Company.
- A letter of intent was received to manufacture digital UHF equipment upto 30 channels. The Company executed an agreement with the Centre for Development of Telematics (C-DOT) for transfer of technology for manufacture of 10 channel digital UHF equipment. Initially, it was to start with the production of a 10 channel UHF transmission equipment in the 400 and 600 MHz band. The equipment was to open new avenues in Railways and Defence areas. Necessary steps for the implementation of this project were being taken.
- With effect from April 1, Tata Keltron Ltd. was merged with the Company. In pursuance to the merger scheme, the shareholders of the erstwhile Tata Keltron Ltd., were allotted 1 equity share of Rs.10 of the company each of TKL and 10 equity shares of Rs.10 each of the Company for every 25 cumulative convertible preference shares of Rs.100 each of TKL.
- 4,26,692 No. of equity shares allotted to shareholders of erstwhile Tata Keltron Ltd. pursuant to the Scheme of Amalgamation.
2000 - Tata Telecom launched an advanced range of call centre products which it has sourced from its joint venture partner Avaya Communications (formerly Lucent Technologies) in India.
- Tata Telecom Ltd. is considering hiving off or selling TataPhone, its loss-making telephone equipment manufacturing division, as part of a restructuring plan.
- Tata Telecom, a the joint venture between the Tatas and Lucent Technologies, will henceforth be known as a Tata-Avaya.
- Tatafone, a division of Tata Telecom Ltd, is beng hived off into a separate company and would be a 100 per cent subsidiary of the Tata group.
2001 - Tata Telecom has entered into an arrangement with Itel Industries, under which the whole of the undertaking of the Tataphone division of the company will be demerged into ITEL.
- Tata Cellular on June 27 launched its 'voice me' service in Andhra Pradesh which would provide voice mode to e-mail.
-India's first post-paid Internet service on a regular telephone line NetReady, was launched by Tata Teleservices Limited, the private basic service provider in Andhra Pradesh.
-Tata Teleservices, which has the letter of intents for providing basic telephone services in 15 other circles, will sign an agreement with the department of telecommunications later this week to start services in four states Delhi, Gujarat, Tamil Nadu and Karnataka.
- In yet another move to provide continuous connectivity, Tata Cellular Ltd (TCL), one of the cellular operators in Andhra Pradesh (AP), launched its third corridor Krishna Corridor here on September 5, connecting a stretch of 384 km.
- Tata Teleservices Ltd, the private basic telecom services operator in Andhra Pradesh, has added 12 more CDMA (code division multiple access) cell sites in the twin cities and plans to roll out basic services in six more towns by the year-end.
- Tata Cellular Ltd on September 27th, announced the launch of its cell-phone services in six more centres in Andhra Pradesh thereby extending coverage to 82 towns across the State. Amadalavalasa, Peddapuram, Ponnur, Tuni, Piduguralla and Kothagudem were added to the Tata Cellular network.
- The department of telecommunications (DoT) has given the green signal for the merger of the two cellular operators Birla-AT&T and Tata Cellular.
-Issues Commercial Papers amounting to Rs. 17cr for 90 days.
-Launches Baat Bees Lakh Ki , which offers 2 lakh prices to reach 6 lakh customers within 60 days.
-Talks on merger between Hughes Network Systems and Tata Industries was put off because of differences that errupted due to valuation of business.
-Raises loans from IDBI to start telecom services in Delhi, Gujarat, Karnataka and Tamil Nadu.
-Tata Cellular extends its coverage to 92 towns in AP by launching its mobile phone services in 4 towns.
-Tata Teleservices and Hughes Signs a Memorandum of Understanding.
-VSNL's Investment in the company is made for a span of 48 months.
-VSNL overvalues TTL by taking over its 25% stake for Rs.1200 cr.
-Purchases three Sun Fire 15K a new flagship high-ended system built on technologies built by Sun Microsystems.
-Makes an open offer to acquire upto 20% stake in Hughes Tele com.
-Introduces its smart-card based, pre-paid calling cards in Vishakapatnam.
-Alcatel India occupies $12m worth multimedia switching equipment order of Tata Teleservices.
-Inducts a two person transition committee to look into the integration of Hughes.
-Appoints R K Swamy BBDO to find a common brand for its basic telecom operations.
-Launches the first flexible tariff plans for limited mobility services in the country.
-Worldcom and the company's issue affects the reinsurance plans of VSNL.
-Ties up with Indiatimes Infotech to jointly promote enterprise communications technologies.
-Issues fresh Commercial Paper of Rs.200 million , subscribed by UTI Bank Ltd with maturity date as Nov 22.
-Introduces 'Fundoo Calling' a voice porta exclusive for its claims aimed at giving more value to its users.
-Launches its next generation of enterprise class Internet protocol solutions (ECLIPS) software and hardware.
-Foreign shareholding in the company increased to 27.1% from 25.8% .
-Asks relief from customs/excise duties to fulfill the VPT committments.
-Declares festival scheme - Phone-tastic offer for all new landline customers.
-Forfeits 2195 equity shares on account of calls-in-arrears.
-Introduces its fixed line wireless and CDMA mobile phones systems in TamilNadu.
-FIPB rejects TTL's proposal to issue redeemable preference shares and warrants.
-Completes the acquisition of Hughes Tele com India Ltd and the Board of HTIL is changed: J J Irani - Chairman Mr S Ramakrishnan - Managing Director Mr Ishaat Hussain Mr R Gopalakrishnan Mr Kishor Chaukar Mr Firdose Vandrevala
-HTIL will be renamed as Tata Teleservices (Maharashtra) Ltd.
-Gets TRAI's approval for its WLL tariff plan.
-Launches its WLL based limited mobility services in Delhi under the brand name 'Tata Indicon'.
-The subscribers of TTSL have crossed 4500 mark.
-Forays into the Internet Cafe business with the brand name indicom.
-Motorola receives $43 million contract from the company to deploy CDMA 1x network in Mumbai, maharashtra, goa.
-Slashes STD rates from Rs. 9 per minute to Rs.4.8 per minute.
-Tata and Avaya in the joint venture agrees to provide hi-tech equipment and solutions that will help the companies to optimise business continuity, maximise security.
-Tata Indicom launches Kyocera colour handsets with 4000 colour screen and polyphonic ringtones and flashlights.
-Slashes ISD rates upto 70% in its international long distance tariffs for calls to the US, Canada and Europe.
-Signs OgilvyOne for direct marketing business.
-Tata Indicom introduces CUG (Closed User Group) facility
-Tata Indicom unveils services in Anekal
-Tata Telecom Ltd, an enterprise communication solutions provider, has lined up a series of value added services (VAS) for the growing contact centre players seeking to optimise their technology investments and provide an integrated view of their applications through a common interface.
-Tata Telecom gets Rs 1.4 cr video-conferencing deal from UBI
-Tata group announced that was is selling a 25.1 stake in Tata Telecom to its joint venture partner, the New Jersey-based Avaya Inc, for approximately $18 million (around Rs 80 crore) in cash, or Rs 220 a share.
-Tata Telecom ties up with Avaya to offer SIP solutions
- Tata Indicom launches push-to-talk (PTT) services, based on Qualcomm's BREWChat technology for the first time in India
2005 Matulya Centre, 'A' Block, 249, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013 To 72, Kalpataru Synergy, Opp. Grand Hyatt, Vakola, Santacruz - (East), Mumbai - 400055.
-Avaya Global Connect Ltd has appointed Mr. Rohit Menezes as an Additional Director of the Company w.e.f. January 25, 2007.
- Avaya GlobalConnect Ltd has has appointed Mr. Anil Nair as the Managing Director of the Company with effect from April 28, 2009 for a period of three (3) years.
- Avaya GlobalConnect Ltd has informed that the Board of Directors of the Company at its meeting held on July 18, 2009, inter alia, has appointed (1) Ms. Pamela F Craven (Non-Executive), (2) Mr. Christopher Formant (Non-Executive) and (3) Mr. Hoshang Noshirwan Sinor (Non-Executive & Independent), as Additional Directors of the Company with immediate effect.
- The name of Avaya GlobalConnect Limited shall be changed to AGC Networks Limited and the trading symbol of the Company be changed from AVAYAGCL to AGCNET.
- The board have recommended payment of Dividend of Rs. 4.50 per share.
- The Board of Directors has recommended a dividend of Rs. 2.25 per share.
- Mr. Prasad It Subramaniam has been appointed as Head (Finance) of the Company.
- The Board has recommended payment of Dividend of Rs. 15 per share.
- Mr. Pratik Bhanushali has been appointed as the "Company Secretary" of the Company.
- AGC Networks has given the Bonus in the Ratio of 1:1
2013 -AGC Network Acquisition of business of Transcend United Technologies, US, by US subsidiary (namely AGC Networks Inc.) of the Company.
2014 -AGC Networks Reorganizes Corporate Structure and Management Team.
2015 -AGC Networks completes acquisition of Ensource biz -AVAYA felicitates AGC with 'Unified Communications Partner of the Year' award -Avaya and AGC Networks to Deliver Fully Hosted Cloud-Based Engagement Solutions to Business across India -AGC Networks Steps Up Focus On Customer Satisfaction -AGC Networks wins IES ‘Excellence Award’
-AGC networks has said that CYBER-i, the cyber security division of AGC Networks has entered into a strategic managed services provider (MSP) partnership to offer outcome based managed security services across the globe.
-AGC Networks Ltd has informed BSE regarding a Press Release dated September 08, 2016 titled "Darktrace Expands In India with New Partner AGC Networks".
- AGC Networks received Avaya’s Unified Communications Partner of the year Award in Dubai.
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