iStreet Network Ltd Company Summary

iStreet Network Limited was formerly incorporated as a Private Company as Principle Marketing Group Pvt. Ltd. vide Certificate of Incorporation dated 26th June, 1986.

The Company became a deemed Public Company on 10th March 1992 resulting in acquiring more than 25% of the share of a Public Limited Company. Meanwhile, on 18th April, 1992, the name of the Company was subsequently changed to Principal Pharmaceuticals & Chemicals Limited.iStreet Network is an Internet & Retail Catalogue company and sells products and services through its Internet Retail Stores known as iStreet Bazaar. iStreet Bazaar - the Internet Retail Store is a physical store in a neighborhood area which runs on virtual inventory.

The network of Internet Retail Stores is one of the major assets for the Company to run its business. These network retailers give eCommerce shopping experience to customers based on trust and relationship. This model is unique and innovative.

The Company set up a mild size Pharmaceutical and Intermediate manufacturing unit in Gujarat during the year 1994-95. During the year 1998-99, the Company had implemented a small expansion cum backward integration. The Company has identified 4 new products to be manufactured and trials of 2 products have been successfully completed.The company has created its place in as one of the largest manufacuturers of Beta-Blockers (cardiovascular segment) in India.

Also, during the year the company has promoted a marketing tool named World Chem Net.Com which is basically a e-biz site (B2B) for doing online trading in pharmaceuticals and chemicals.In 2012-13, the Company diversified into Digital and eCommerce business as its Pharmaceutical and Intermediate business. The Company launched Internet Retail Store concept in January, 2014 and named it as iStreet Bazaar. During 2014-15, it expanded activities to newly added business segment viz.

Internet & Catalogue Retail. The Company acquired 100% shareholding of M/s. iStreet Bazaar Pvt Ltd.(ISBPL) and thus made the same as Wholly owned Subsidiary of the Company effective April 29, 2015.

However, on rejection of the proposal of transfer of its business, the entire investment was disposed off on June 22, 2016 and ISBPL ceased to be subsidiary of the Company with effect from June 22, 2016.The company had started working on AI Education project during the financial year 2023-24 in collaboration with a technology company.During FY 2024-25, there was a change in the ownership and control of the Company. Uttam Ishwarlal Dave, Yash Maheshwari, and Inovent Solutions Limited were made as the new Promoters of the Company through acquisition of shares. The aforesaid transfer aggregates to 39.91% of the shareholding through the open offer process during the year 2025.