ABM Knowledgeware Ltd Share Price

History of ABM Knowledgeware Ltd

ABM Knowledgeware Limited was incorporated in 1993 as a private limited company under the name Evergo Capital Markets (India) Pvt Ltd. In February 1994, the company was converted into a public limited company and they changed their name to Evergo Capital Markets (India) Limited . Further, the name got changed to Evergo Capital Ltd in 1997 and to ABM Knowledgeware Limited in March, 2001. ABM Knowledgeware Ltd is an information technology company in India. The company is engaged in providing software development services and sale of computers and peripherals. Their products include ABM MaiNet, ABM CARE, ABM MOIS and CRM for power distribution utilities. The company business focuses on providing e-Governance solutions to municipal bodies, CRM solution for electricity distribution compan ...ies, and automation of billing, accounting and collection for water distribution authorities. Their services include IT enabling citizen services, grievances management, document journey and pendencies monitoring, water billing and accounting software and ERP. In the year 1996, the company made an initial public issue of 55 lakh equity shares having a face value of Rs 10 each. In the year 1998, the company made a strategic decision to focus on Software and Services business for E-Governance in the domestic market. As per the scheme of amalgamation, the company acquired the business, assets and liabilities of ABM Knowledgeware Ltd, Mumbai (formerly known as Advent Business Machines Ltd) with effect from April 1, 1999. During the year 2000-2001, the nature of the business had been changed from Non Banking Finance Company to Information Technology. In the year 2003, the company launched ABM MAINet in Kalyan Dombivili Municipal Corporation as the first comprehensive e-governance solution for Urban Local Bodies in India. In February 2003, they were awarded Skoch Challenger Award for the best e-Governance Project in India by Skoch Consultancy for KDMC Project. In September 2004, the company was also awarded prestigious CAPAM 'Certificate of Achievement' award in Singapore by the Commonwealth Association for Public Administration and Management for The company's MAINet. In the year 2005, the company entered into Middle East Market through contract for ABM ERP for a premier office in the UAE. They also entered into North India through a major order for complete automation for Engineering Dept of Municipal Corporation of Delhi. During the year, the company entered into Consumer Relationship Management (CRM) Space for Power Sector through a large order for ABM CFC and standardization of ABM CFC by a leading Electricity Distribution Company. They also received award of the 'Best Technical Company in e-governance', adjudged by IIT Delhi, Ministry of Information Technology, Govt of India and CSI. In September 2006, the company entered into SAP ERP business by bagging multi million-dollar order for Implementation of SAP in MCGM in consortium with SAP & a reputed Systems Integrator. In December 2007, the company won the prestigious 'Wisitex India Urban Development Lead Organization of the Year - Information Technology' award conferred by Minister Urban Development, Government of Goa. In April 2008, they also won the JMCCI 'National Level Entrepreneurship Award'. In December 2008, the company acquired an e-government project for Rs 1.16 billion by Municipal Corporation of Greater Mumbai. The work involves supply of SAP licenses, implementation of SAP payroll for employees of MCGM and providing SAP change management support until the year 2011. In 2015, ABM formed alliances with eINDIA Smartcity 2015 in Mumbai. In January 2017, AMB got into Cyber Security segment by strategic investment in Instasafe Technologies Pvt. Ltd.'