Airan Ltd Share Price

History of Airan Ltd

Airan Limited was originally incorporated as 'Airan Consultants Private Limited' in Ahmedabad on April 19, 1995. Later, the Company name changed to 'Airan Private Limited' on January 4, 2017 with Certificate of Incorporation, which was issued by the Registrar of Companies. Consequent upon the conversion of the Company into Public Limited, the name was changed to 'Airan Limited' and a fresh Certificate of Incorporation dated January 18, 2017 was issued by the Registrar of Companies. The Company is engaged in the business activities of computer coaching which were started way back in 1990's. Late Shri Viswanath Bhimsen Agrawal and also the Promoter, Mr.Sandeep Agrawal has started computer coaching classes under a Proprietorship Firm namely 'Arrow Computer Systems' (ACS) in late 1990's. T ...he company has started the first generation business entity with one Wipro Brand PC-XT machine having Seagate ST225 20 MB Hard Disk, a 5-1/4 inch Floppy Drive for 360 KB capacity Double sided, Double Density Floppy disk, Monochrome Monitor and Tactile Keyboard to provide the coaching of various courses like DOS, Basic, dbase, Lotus-123, and WordStar etc. Subsequently, in second year 1991-1992, the business turned its track to a different direction from coaching to Data processing and also in the year 1995-2000, the company has started full fledge IPO Applications processing, manual clearing through computerized listing with 100% reconciliation, dividend warrants listing and reconciliation, refund orders listing and reconciliation for many Public Sector Bank. During the year 2001, the company got the robust growth as the private sector banks started opening up and Multinational Banks spread there wings and opened up branches across India and also the company entered into agreement with various banks like HDFC Bank Ltd, UTI Bank Ltd, Citibank N.A., and that was again a new turning point which put the company on to the fast track. The company also initiated Utility Bills Payment Processing for various utility companies and End to End (E2E) solutions for IPO Financing scheme of Centurion Bank of Punjab, both the venture, both the venture diversification were proved grand success to the company in the year 2003. During the year 2004-2014, the company was appointed as sole co-ordinators for locations in Gujarat & Rajasthan state for Cash Management Services (CMS) operations of various banks including Standard Chartered Bank, Deutsche Bank, ICICI Bank Ltd, IDBI Bank Ltd etc and also providing services related to clearing operations for Citibank NA across their 9 locations in Western India. The Magnetic Ink Character Recognition (MICR) Clearing operations were started for Citibank NA, across western India which later converted into Image based Cheque Truncation System (CTS) after the Reserve Bank of Indias Directions and after functioning of National Payment Corporation of India (NPCI). The Cheque Truncation System (CTS) Platform of clearing opened new horizons wherein the entire volume of an NPCIs grid can be processed at one location, wherein the volumes increased and the virtual territorial expansion took place and hence new clients were added in to Kitty. After establishing the strong foothold in the field of IT and IT enabled services related to banking transaction, cash management services and document management services, the Company in 2014, started providing services which are engaged in the field of Telecom and Internet Service Provider (ISP) which was new vertical for Company, but certainly a volume generating activity, wherein the (End to End) E2E process, right from Know Your Customer (KYC) spot audit / pickup of forms from the distributors point, thorough Know Your Client (KYC) audit at nearest spoke office, data entry of application form in to the online portal, opening an account, verifying the voter ID / Aadhaar number from their web portal, and activating the SIM of the customer in a limited Turn Around Time (TAT), outward from spoke, transporting forms to the centralised HUB, inward at HUB, Bar Coding, Gumming Photograph, Destapling, Scanning, Re-stapling, Image Splitting, File Naming, Batch preparing up to final warehousing. Further, Know Your Customer (KYC) is the biggest focus point among all the utility services providers including payment banks like PayTM & Airtel Money. Airan is entering in a big way in to manual KYC and e-KYC activities for its various clients. These field operations also include AVCV (Address Verification / Credit Verification) of the client through online mobile application. AIRAN has its owned state-of-the-art warehousing facilities for storage of Composite Application Forms (CAFs?) with KYC documents and warehousing of CAFs & KYC Documents for PayTM and GTPL for their Pan India. In addition, image based Account Opening Process for Kotak Mahindra Bank Ltd. is also executed by our company for their all India Operations on FIFO basis. This said operations are carried out on the Banks online system from a highly secured facility. To sum up, the Company is in the business of Information Technology (IT) and Information Technology (IT) enabled services including Banking transaction processing services and Document management services for telecommunication companies, internet services provider, payment banks etc. The Company came up with a Public Issue in March, 2017 by raising equity capital aggregating Rs 14.86 Crores through issuance of 33,00,000 Equity Shares.