Quadrant Televentures Ltd

Quadrant Televentures Limited was originally incorporated as 'The Investment Trust of India Limited' on August 2, 1946. The Company's name was changed to 'HFCL Infotel Limited' on May 12, 2003 and further to 'Quadrant Televentures Limited' on September 24, 2010. Quadrant Televentures is a Unified Access Services Licensee and an Internet Service Provider in the Punjab Telecom Circle comprising of the State of Punjab, the Union Territory of Chandigarh and the Panchkula town of Haryana. Currently, the Company is providing Broadband Services on FTTH/ DSL/WBB/EOC technology, Fixed Voice (Landline) services, Internet Leased Line and P2P services in the Punjab Telecom Circle. The Company provides broadband services through its fiber optic cable laid across Punjab. Through the Scheme of Amalgamation, the erstwhile HFCL Infotel Limited was merged with the Company effective from September 1, 2002. As per the Scheme envisaged, the Company's existing business of hire purchase, leasing and securities trading was transferred by way of slump sales to its wholly owned subsidiary, Rajam Finance & Investments Company (India) Limited effective from September 1, 2002. Rajam Finance was renamed as The Investment Trust of India Limited with effect from June 17, 2003 and it ceased to be a subsidiary of the Company with effect from September 30, 2003, pursuant to allotment of fresh equity by Rajam Finance to other investors. Other group companies are Kothari Sugars and Chemicals and Madras Safe Deposit. In Sep.'94, it came out with a rights issue of 21.79 lac shares (premium : Rs 30) aggregating Rs 8.72 cr, to augment long-term working capital. The company is mainly engaged in hire purchase, lease financing and investments. Its clients include individuals, firms as well as corporate bodies. The Company's business activities include sugar, petrochemicals, industrial alcohol, etc. It has two subsidiaries -- ITI Pioneer AMC and ITI Capital Markets. ITI Pioneer AMC has promoted Kothari Pioneer Mutual Fund. ITI has invested 55% of its capital in ITI Pioneer AMC and the remaining 45% has been subscribed to by Pioneering Management Corporation, US. During 1995-96, ITI Pioneer AMC Limited ceased to be a subsidiary of the company.During 1997-98, The company's holding in ITI Capital Market Ltd was sold to Kothari Pioneer AMC Ltd. The Company started its operations as a fixed line service provider under the brand name 'CONNECT' in October 2000. Subsequently, the Company was granted the UASL License (Unified Access Services License) in the Punjab Telecom Circle in 2003, which was further migrated to Unified License in the year 2015. Apart from the UASL License, the Company also holds the ISP (Internet Service Provider) License Category - A (Pan India) and the IP-1 (Infrastructure Provider Category -1) License for providing services in the Punjab Telecom Circle. During 2003-04, Company launched its Prepaid Mobile product and a complete range of innovative value Added Services and Data products were launched in May 2004, by the introduction of DSL-high speed Internet product. The company became the first service provider to have launched DSL services in the state of Punjab and Chandigarh. During 2004-05, The company expanded its services to 125 cities/towns with 2.47 lacs subscribers in Punjab. A wholly owned subsidiary, Connect Broadband Services Limited was formed on July 2004, for the above purpose. The Company's services namely, Fixed Line Telephoney, Mobile Telephoney, Broadband Internet Access and Data Networking Access are offered under the brand name 'CONNECT'. The wholly owned subsidiary of the company, Connect Broadband Services Limited was formed on 2nd July, 2004 to undertake the business of distribution of Video and Cable TV services. The Company Commercially started its operations in October, 2005. In September 2007, it had undertaken expansion of its CDMA mobile services covering key cities / towns in Punjab, under the brand name of 'PING'. It entered into share purchase agreement on March 26, 2008 with M/s. Digicable Networks (India) Private Limited for sale of shares of CBSL Cable Networks Limited and accordingly the shares were transferred on April 16, 2008 at par. The Company incorporated a subsidiary in the name and style of 'Infotel Tower Infrastructure Private Limited' for the purpose of creating infrastructure for telecom operations, manpower outsourcing and trading activities related to telecommunication operations. In 2009-10, M/s Quadrant Enterprises Private Limited, has acquired the entire equity stake of Himachal Futuristic Communications Limited (HFCL) comprising of 32,67,05,000 equity shares of the Company amounting to 53% of the issued, subscribed and paid up equity share capital of the Company, from the erstwhile Promoters, Himachal Futuristic Communications Limited (HFCL) and accordingly, the aforesaid transfer of the said equity shares was effected w.e.f. April 3, 2010. During the period 2009-10, the Company has also acquired the beneficial interest in the 20 equity shares at face value of Rs 10 each of its Subsidiary Company, Infotel Tower Infrastructure Private Limited (ITIPL ) w.e.f. April 09, 2010, from the original subscribers to the Memorandum of Association of ITIPL, where upon Infotel Tower Infrastructure Private Limited became a wholly owned subsidiary of the Company w.e.f. April 09, 2010. The Company had surrender the CDMA Spectrum on May 30, 2016 and Microwave Spectrum for CDMA Services for Punjab Service Area and had shut down its GSM Services w.e.f. February 15, 2017. At present, the Company is running its Wireline and ISP Services in Punjab Circle including Chandigarh and Panchkula.