First Fintec Ltd

First Fintec Ltd Technicals

First Fintec Ltd Financials

First Fintec Ltd Shareholding Pattern

About First Fintec Ltd

First Fintec Limited was initially incorporated as IQMS Software Limited on March 3, 2000 as a Public Limited Company. The Company obtained Certificate for Commencement of Business on 13th March 2000. In the year 2000, the Company went in for an Initial Public Offering (IPO). The name of the Company was changed to Firstobject Technologies Limited on 24 November, 2008 and later, the Company renamed it to First Fintec Limited on 29 September, 2021. The Company has been a promising company in the IT/ITES, KPO, ed-Tech and Fintech areas. It is a Web-enabled Software Solution Provider with a primary focus on the Application Service Provision Model. Its expertise is largely in Internet Technologies, and the main goal of the company is to be Application Service Providers of generic MIS systems targeting SME's at a global level. The Company was into development and implementation of software under the enterprise resource planning (also know as ERP) and in the course had taken up ERP consulting and development of proprietary application software for the implementation of ERP. Though the business of ERP kick started well, but due to the recession in USA during 2001 and 2003, the consulting business of the Company got affected. Subsequent to which the product development business was also affected. Thereafter, the Company went into the stage of Cash Flow crisis and on course non maintenance of staff and developers and all the projects remained unattended and unfurnished. The promo ...ters and directors could not find any good scheme to revamp the organization and bring back the Company from the situation that it was in between 2003 and 2007. The Company in the financial year 2007-08, with the help of Strategic Investors and Restructuring Advisors, with the induction of Fresh Equity through preferential issuance was brought back into stream of the business. The Company piloted the projects and was able to get some good clients during 2007-08. It acquired 51% of equity stake in Tractel Solutions Inc, USA during the year 2007-08. The Company ventured into E-Education (or electronic learning or eLearning) encompasses providing e- education for school students during 2010. During the year 2010-11, the Company made a preferential allotment of 8,61,720 equity shares to the Promoters, Strategic Investors and Others to meet the diversification and expansion requirements mainly for its e-learning initiatives and setting up facilities in SEZs. Further, the Company amalgamated with M/s. Pre School Analytics Pvt Ltd through the Scheme of Arrangement which was made effective from 1st April, 2010. The Company founded its Invest Tec Division in 2021 focusing on M&A, strategic investment advisory, and capitalization transactions for Indian companies. As a result, 2020-21 has been a record-breaking year for Special purpose acquisition company (SPAC) IPOs. In the FinTech space, Company has focused on developing solutions that are simple, practical, and accessible, keeping in mind the needs of smaller businesses and individual users. In the EdTech space, it is working on digital learning tools that are affordable and effective, especially for schools and institutions adopting technology.