The End of an Era for Neoteric

The country’s one of the premier national value-added distributors, Neoteric infomatique has recently shut down its shop and closed its IT distribution operations in the Indian market. The IT ND has closed its all 35 branches across the country across 50+ cities in India.

Established in 1991, this Mumbai based IT distribution giant had revenues of close to Rs. 2000 crore in FY15 and employed around 800 people. The company was headed by Paras Harshad Shah who has a great market standing. The distribution major has been working with 42 major brands including the likes of Lenovo, Gigabyte and D-Link.

Though the exact reason for its closure could not be ascertained, as per market sources, Neoteric has run into huge market losses, with outstanding debts close to Rs 200 crores with various ...Read More

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