USG Tech Solutions Ltd Company Summary

USG Tech Solutions Limited (Formerly V & K Softech Ltd) was incorporated on 20 July, 1999 as a Private Limited Company and later converted into a Public Limited Company on 22 March, 2000. In 2000, the Company went in for a Initial Public Offering (IPO). The company is mainly engaged in Software and Communication technology.

During period 2011-12, US Group had promoted the expansion programme of the Company and therefore the name of the Company got changed to USG Tech Solutions Limited effective on 17th August, 2011.USG Tech at its best provides innovative IT Solutions and complex software projects development that helps to keep it one step ahead of its competitors by continuously improving its IT-based business solutions. Crafted to perform, USG Tech is more that a singular avenue for payment processing system, it represents the ambition to connect, the ability to integrate and the freedom to move beyond the hassles of prior systems. USG Tech was brought to life by individuals who imagine a seamless system that allows complete freedom and guarantees a greater performance capability.

Combining state-of-the-art technology with the ambition to streamline business processes throughout the country, USG Tech equips businesses and organizations to stay in control of payment processing, point of sale systems, reward and loyalty programs and all other related business processes. The multi-functional feature of USG Tech payment systems allow product manufacturers to stay linked to the traders, the banks to their customers, the government to various trading points, the corporate houses to their branched processes and merchants to their customers. Spread across multiple channels, the Companys strategic solutions are capable of communicating across broadband, GPRS, Wi-Fi and dial-up along with supporting several third-party VAAs (Value Added Applications).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.