iStreet Network Ltd, originally established as Principle Marketing Group Pvt. Ltd. in 1986, has undergone several transformations, including a name change to Principal Pharmaceuticals & Chemicals Limited. The company is primarily an Internet & Retail Catalogue entity, operating through its Internet Retail Stores, branded as 'iStreet Bazaar.' These stores, which utilize a virtual inventory model, offer eCommerce shopping experiences facilitated by physical neighborhood locations, fostering trust and personal relationships with customers.
The company's journey has seen significant changes, including a brief foray into pharmaceuticals, where it became a major beta-blocker manufacturer in India. However, in 2012-13, iStreet Network diversified into digital and eCommerce markets, launching the iStreet Bazaar concept in 2014. Despite initial expansion efforts, the company faced financial challenges, leading to its classification under the Graded Surveillance Measure (GSM) by BSE in 2017, restricting capital raising and resulting in operational suspension.
