Olectra Greentech Limited was formerly incorporated as 'Goldstone Teleservices Limited' on October 11, 2000. The Company name was changed from 'Goldstone Teleservices Limited' to 'Goldstone Infratech Limited' on September 28, 2007 and further changed from Goldstone Infratech Limited to 'Olectra Greentech Limited' effective on July 6, 2018. The Company was established to takeover the telecom business of Goldstone Technologies as part of restructuring programme undertaken by the Goldstone Technologies Limited. The Company is primarily engaged in the manufacturing of Composite Polymer Insulators, Electric Buses and Electric Trucks.
Consequent to Amalgamation of M/s Newtech Stewing Telecom Limited, M/s. Shree Shree Telecom Private Limited and M/s. Sunplast O-Met Limited with the Company, through Scheme of Amalgamation on 30 June, 2009. In 2009-10, the Company allotted 57,432 Nos. of Equity Shares of Rs 4/- each amounting to Rs. 2,29,728/- to remaining shares holders of Sun Plast O Met Limited pursuant to Scheme of Amalgamation.
The Company commenced commercial operations on October 11, 2000. During the year 2012-13,the Company developed and type tested the Cross Arm Insulators for FSC platforms as Import Substitution for the first time in India and further the company had also developed Horizontal Line Post Insulators and became the first company in the country to develop this and got approval of power utilities. Further the Company had successfully produced 765KV Insulators for Transmission Lines. From the FY 2018, the Company started manufacturing electrical buses.
In view of expanding business operations and to meet the capital requirements, the Company has raised funds by allotting 2,65,00,000 Equity Shares and 91,00,000 Convertible Warrants at Rs 175.30/- per share to M/s. MEIL Holdings Limited (MHL), on preferential basis. MHL has also acquired 1,00,00,000 (One Crore only) Equity Shares of the Company from Trinity Infraventures Limited, through share pur