Orchasp Ltd Company History

Cybermate Infotek Ltd. was founded in May 1994 at Hyderabad to provide solutions for a dynamic environment where business and technology strategies converge.

With beginning in Indian markets company gradually moved into the European markets.

Company had made an initial public offer during February 1998, which received an immense response and was oversubscribed 27 times.

The company had entered into a strategic partnership agreement with Key Systems of Greece. Under this agreement, Cybermate was providing an offshore development center for Key Systems.

The company had bagged US order and got rights to support development and maintenance of surfacestyles.com.

In terms of expansion plans the company had set up development centers in the states of Andhra Pradesh and North Eastern states. They also set up overseas offices.

Increase in the authorized share capital of the company from Rs 150 million to Rs 450 million.

On 28th September 2007, Cybermate Infotek Ltd. had allotted 4,800,000 Global Depositary Receipts Representing 48,000,000 Underlying Shares of Rs 10 each.

Board of directors of the company had approved on 24th December 2007 the collaboration partner agreement for Networking, Radio Frequency Identification Device (RFID), Enterprise Application Integration (EAI), and Storage Area Implementation through Gemini Communications Ltd, Chennai.

They also approved implementation partnership for ERP Globally through M/s. Gradient Technologies Ltd, Hyderabad.

Further, the board had approved to take up Bulk Mail services to mobile companies in Middle East regions through a technical support from an Australian Service Provider.

The Company has decided for the demerger of products division and power division of the Company. The board has adopted a scheme of arrangement involving demerger of two divisions of the Company into two separate Companies for strengthening the balance sheet and enhancing value to the shareholders by way of the said scheme.

The Company has passed a resolution approving shifting of its registered and corporate office to Plot No. 19 & 20, Moti Valley, Trimulgherry, Secunderabad - 500015.

Company name has changed to Orchasp Ltd. from Cybermate Infotek Ltd..