Volga Air Technics (Volga) was incorporated as a private limited company in April 1993. The company commenced its production by manufacturing components of air flow control equipments such as fan blades, blowers and impellers, air purifiers, air coolers, and air curtains in January 1994. It planned for a major expansion for getting up lines for manufacturing air conditioners, water coolers and condensing coil units in 1995. To part finance the expansion project, Volga offered equity shares to the public in November, 1995, which was oversubscribed more then four times. The company also took term loans from Industrial Development Bank of India (IDBI) and Gujarat industrial Investment Corporation (GIIC)
In the year 1995-96, the company signed a Memorandum of Understanding (MoU) with Godrej-GE Appliance (a Joint Venture with Godrej, India and GE, USA) to manufacture 0.75 tonne window air conditioners for it. The company has also has been supplying water coolers to Blue Star and AC kits to Amtrex Hitachi Appliances. Apart from these, Volga has been a regular supplier of fan blades and blowers to major air conditioning companies like Amtrex Hitachi Appliances, Voltas, Blue Star, Videocon Appliances, Air Command India, etc. After setting up the state-of-the-art plant, Volga also started selling air conditioners and water coolers under its own brand name --Volga. At that point of time the demand for room air conditioners was rising very fast in India.
However, due to the entry of the MNCs and consequent increase in marketing and advertising costs, Volga then concentrated on OEM supplies. It, however, continued to sell the water coolers through its distribution network under the brand name Volga.