|₹6.65 / ₹1.7|
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Melstar Information Technologies (MITL) was incorporated in August, 1986 as a private limited company under the name of Sifa India Pvt. Ltd, thereafter the company was converted into a public limited company in July, 1994 and changed its name to present one. Promoted by SIFA GmbH, West Germany and Patel Group of Bombay, MITL manufacturers, exports, imports, buy, sell and deal in electronic systems, information technology including consultancy, computer hardware, software development, infotech services, enterprise solutions, out-sourcing and facility management, internet, E-commerce etc. In 1993, the company diversified into software exports and has been exporting mainly to USA, Italy, Switzerland etc. It further diversified into manufacture of electronic products such as calculators, blinkers, etc in 1994-95. The company also established a branch office in London on May 1998. Melstar Inc is a subsidiary of MITL located in USA. In July, 1999, Melstar Industries (MIL) was amalgamated with the company in terms of scheme of amalgamation sanctioned by the Hon'ble Bombay High Court.