USG Tech Solutions Ltd Share Price IT - Software
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Incorporated in the year 1999 as a private limited company and converted into public limited company in March 2000 V & K Softech an hyderabad based software company is mainly engaged in Software and Communication technology. The company was promoted by P Mohan Prasad and Y Krishna Prasad. The company has already developed five portals/suites viz. Bharatguru.com, drgenie.com, ilovemycountry.com, newsatlas.com and drrishi.com all related to different fields. It is presently marketing its products and services by direct marketing in india and through its ventures abroad. It has marketing tie-ups with two companies - K&M Softech Inc and ASP Network Technologies Inc, both promoted by the promoters of VKSL. The company went into public issue in December 2000 and the proceeds were utilised by setting up Software Development Centre at Hyderabad, invest in subsidiaries in the US and Canada, upgrade and add to the existing infrastructure, meet working capital needs and the issue expenses. The total project cost was Rs 11.50 cr of which Rs 5.13 cr has already been spent on the project. The project has been appraised by Bank of Madura, which has sanctioned it a term loan of Rs 1.15 cr. The company's subsidiary has been incorporated on 15th May 2000 under the name of "V & K SOFTECH Inc." The subsidiary at USA will house the wireless data centre and will provide ISP, offering products and integration services to consumers and businesses for enhancing and integrating their current communications with the exploding internet. While at Canada, the subsidiary will have data centre, for hosting web domains. It will also provide Consultancy, Application Server database Technologies across different platforms and skills. Both the subsidiaries will act as front offices for marketing of the company's products and services.