Mascon Global Limited (MGL) is a Chennai-based global information technology services and solutions provider listed on the Bombay, Delhi and Jaipur stock exchanges. The company has its roots in Assan Leasing & Finance (India) Ltd, a publicly listed company which changed its business from finance to software and its name to MGL in August 1998. MGL then purchased the IT assets of an unlisted Chennai-based company, Mascon Technical Services Ltd, for Rs 24 million. Most of its employees were also absorbed by MGL. Under the present equity structure, US-based Martek Holdings Inc which was renamed as Mascon Information Technolgies Inc, is the majority stakeholder in MGL with 45.68% equity. One of the promoters, Nandu Thondavadi, holds 10.58%, the public holds 21%, and the rest is held by FIIs and domestic corporate bodies. The company has been been growing exponentially in last eight quarters showing par excellent growth.
