Mastek Share price

The Company was incorporated in the name and style ofManagement and Software Technology Private Limited on May14 1982 to manufacture sell and deal in computersoftware. The Company was originally promoted by Mr. AshankDesai Mr. Ketan Mehta & Mr. R. Sundar Mr. Sudhakar Ramjoined the Company as Promoter Director in the year 1984.The Company was incorporated with a paid-up equity capitalof Rs.400 in 1982. Subsequently the capital was increasedin stages to Rs. 10.00 lakhs by March 1990. The capitalwas increased to Rs. 20.00 lakhs on December 21 1990through bonus issue. On 11 March 1991 3000 equity sharesof Rs. 100.00 each for cash at par were issued toTechnology Development and Information Company of IndiaLimited (TDICI) who invested as venture capitalists to fundthe development of state-of-the-art software products forworld markets. The name of the Company was changed fromManagement and Software Technology Private Limited toMastek Private Limited with effect from 16th March 1992.The name of the Company was changed to take advantage ofits existing logo - Mastek (an abbreviation of Managementand Software Technology Pvt. Ltd.). The Company wasconverted into a Public Limited Company with effect from16th August 1992.The operations of the Company started with providingturnkey software solutions to its domestic clients. In 1985the Company added two standardised packages to itsportfolio a Financial Accounting Package (FINAC) and aStock Broking Package (STRAC). In 1988 the Company took onthe agency business with the distribution of Ingres -RDBMS. It was in the year 1988 that the Company enteredthe export markets with exports to Singapore and the U.S.The growth in the Company''s export business resulted in theestablishment of subsidiaries in Singapore Malaysia andthe U.S. (Details are mentioned elsewhere in theprospectus). The Company has grown in line with theindustry and its services and its products are wellaccepted.In 1994 the Company introduced MAMIS an EnterpriseResource Planning Package and PICADOR a high valuesecurities trading package. The company also added two newagency products - Comshare Commander an ExecutiveInformation System and LBMS - System Engineer a Case Tool.