63 Moons Technologies Ltd Share Price

History of 63 Moons Technologies Ltd

63 Moons Technologies Limited was initially incorporated as 'Worldwide Technologies Limited' on April 12, 1988, which changed the name to 'NODS Worldwide Limited' in July, 1999, to 'e.Xchange on the Net Limited' in December, 2000 to 'Financial Technologies (India) Limited' in April, 2001 and further to '63 Moons Technologies Limited' on May 27, 2016. 63 Moons Technologies is among the global leaders in offering technology IP and domain expertise to create and trade on next-generation financial markets, that are transparent, efficient and liquid, across all asset classes including equities, commodities, currencies and bonds among others. Company is pioneer in end to end Straight Through Processing (STP) solution that support high density transactions. It has developed proprietary techno ...logy platform benchmark against global standard which give it a decisive edge in driving mass disruptive innovation at the speed and cost of execution unmatched in the financial market industry. Presently, it is engaged in business activities like Computer Programming, Consultancy and related services. The Company was set up during the year 1988 promoted by C Subramaniam and Associates, was initially incorporated as a private limited company. The solutions offered by the company are consisting of Exchange Solutions, Brokerage Solutions, Messaging Solutions and Technology & Process Consulting. During the year 1990, The Company had deposited a unit in the Madras Export Processing Zone for manufacturing of Modems to export. Subsequently for sale of Modems in the Indian market, the Company had set up a unit in Pallavaram in September 1991 and also sets up another one factory at Reddiarpalayam, Pondicherry during the same year. The status of the company was converted from Private Ltd to Public Ltd in August 1994; afterward the company was entered into capital market with Initial Public Offering during the year 1995 and in the same year FTIL was diversified the products range to include high-end networking products such as terminal servers, print servers, X-25 pads and routers. The Company had developed a 6U Modem Card and obtained Type approval from TEC during the period of 1996. The Open Dealer Integrated Network (ODIN) goes live on National Stock Exchange in the year 1998. In the year 2000, the company received court approval for Merger of FTIPL & e-Xchange on the Net Ltd. FTIL implemented the Country's first Multi-Exchange Internet trading platform in the year 2001 and in year after, in 2002 introduced Country's first Derivatives trading platform. The Company involved in the demerger of its hardware division to a new company Worldwide Infocom Ltd (WIL) in the year 2002, simultaneously WIL merged with Compuage Electronics Ltd (CEL), hence the name of WIL has been changed to Compuage Infocom Ltd (CIL). During the period of 2003, Multi Commodity Xchange kicks off its live operations used end-to-end Exchange Technology Operations from Financial Technologies and also the company installed 10000+ ODIN Terminals in the same year 2003. FTIL bagged Vadodara Stock Exchange subsidiary deal in the year 2003 to deploy integrated trading platform for it's wholly owned Exchange Subsidiary, VSE Stock Services Ltd. The Company and Hutch India had launched together the first wireless Internet mobile dealing desk during the year 2004 through the Orange wireless service in Mumbai in the name of i-Win' this facility provides stock market and trading facilities to Hutch and Orange GPRS mobile phone users. In 2005, the company launched DGCX. The 100 Million USD Foreign Currency Convertible Bonds (FCCB) offering of the company was completed in the year 2006. The company bagged Deloitte Technology Fast50 India 2006 award during the year 2006 and in the same year the Best Commodity Exchange Award also came to company's hand. FTIL has had partaken in Global Depositary Receipts (GDR), 115 million USD GDR Offering was completed in 2007. In the same year 2007, FTIL received Global IT Innovation Award, Best Innovative Exchange and the Amity Corporate Excellence Award. As on March 2008, The World is Open Award was awarded to the company. The Company has acquired 90% stake in South Africa based ICX Platform for $1.50 million during the year 2008. Financial Technologies (India) Limited established among global leaders in creating successful exchanges in markets by the way of better service, the company focused mostly either underserved or economically unviable to be served by traditional players, which is the concept behind the success of FTIL. During fiscal 2008-09, flagship product suite for exchange solutions, DOME (Distributed Order Matching Engine), released its new version, which is 64 bit memory address aware. The upgraded DOME application was deployed at MCX and was also installed at MCX Stock Exchange and National Spot Exchange Ltd. (NSEL). The Company incorporated a wholly owned subsidiary namely Boursa India Ltd. (BIL) in February, 2009. It deployed a new version of its Exchange Technology suite at MCX, MCX-SX, NSEL, SMX and GBOT in 2010-11. During 2010-11, Company set up two subsidiary Companies, namely, Financial Technologies Projects Pvt. Ltd. (FTPPL), Mauritius, incorporated on April 23, 2010, and FT Projects Ltd. (FTPL) incorporated on May 18, 2010, in India. It launched 3 international exchanges - Singapore Mercantile Exchange (SMX) in Singapore, Global Board of Trade (GBOT) in Mauritius and Bahrain Financial Exchange (BFX) in Bahrain. The Company consolidated its operations by shifting to owned state-of-the-art facility at Chakala, Andheri (E) and commenced its operations from SEEPZ, Andheri. During 2012-13, Company reduced its stake in IEX to comply Central Electricity Regulatory Commission (Power Market) Regulations, 2010, in which it was holding 30.14% of total issued and paid-up share capital on fully diluted basis in IEX till September 2013. And accordingly, the Company diluted 5% of the issued and paid up equity share capital of IEX during the year. The Company during 2012-13, alongwith other shareholders entered into a share purchase agreement for sale of 100% equity shares in the National Bulk Handling Corporation Limited (NBHC), which accordingly, completed the sale transaction in April 2014. The Company divested all its stake in the Singapore Mercantile Exchange Limited (SMX) and its clearing house SMX Clearing Corporation Limited (SMXCCL), through wholly owned subsidiary of Company, Financial Technologies Singapore Pte. Limited. During the year 2015-16, Financial Technologies Projects Private Limited ceased to be the Company's Subsidiary effective on June 18, 2015; Capricorn Fin-Tech (Private) Limited (Subsidiary of Financial Technologies Middle East DMCC) ceased to be its Step-down Subsidiary effective on June 15, 2015 and Dubai Gold and Commodities Exchange DMCC ceased to be a Joint Venture Company effective on March 16, 2016 respectively. During 2019-20, Company sold 28,69,14,688 shares in Atom Technologies Limited (ATOM), a subsidiary of the Company to NTT Data Corporation, Japan. Consequent to the sale, ATOM has ceased to be a subsidiary of the Company and is now an Associate of the Company. ODIN Aero, the new super-charged rich internet application, was launched with multiple operating systems and browsers for convenience of trading in 2019. In FY 2024-25, Company has ventured into new areas through its subsidiary 63SATS, in the direction of providing Cybersecurity - the Gold of the Digital Economy. Company has sold the ODIN and MATCH Business Undertaking via slump sale basis on January 20, 2025. The Risk Solutions Division launched its services towards data validation utility in 12 more Housing Finance Companies (HFCs). The Company advanced across emerging technologies, particularly in Web3, Cybersecurity and LegalTech. QiLegal, the LegalTech solution, was launched to transform to fast-track justice. Exchange Technology (ET) Division of the Company served the clients, by venturing into developing marketplace technology software during the year.