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Alkyl Amines Chemicals Ltd. Company History and Annual Growth Details

1979 - The Company was incorporated on 17th October, at Mumbai. The
company was promoted by Yogesh M. Kothari, other members of
the family and DSP Financial Consultants Ltd. The Company
Manufacture aliphatic amines such as mono ethyl amine, diethyl
amine, mono cyclohexyl amine, di cyclohexyl amine, N-butyl amine,

- The Company entered into a technical collaboration agreement with
Leonard Process Co. Inc., U.S.A. (LPCO) under which LPCO were to
provide the company process design and know how for the
manufacture of Amines, operating manuals for the plants and
guarantee the performance of the plant.

- A collaboration agreement was entered with Acid Amines Technology
Inc. U.S.A for technical knowhow package and for putting up a new
amines plant to cater to the demand for amines.

1981 - 7 Equity shares subscribed for by the signatories to the
Memorandum of Association. 2,00,000 pref. and 10,99,993 No. of
equity shares issued at par through a prospectus. 2,99,993 No.
of equity shares reserved for allotment to Yogesh M. Kothari, his
relatives, etc., 1,00,000 No. of equity shares each reserved for
allotment to DSP Financial Consultants Ltd., and SICOM and
2,00,000 pref. and 6,00,000 No. of equity shares offered to the
public in December 1980. Preference shares redeemable during

1987 - 2,20,000 rights shares issued at par in prop. 1:5. 11,000 No. of
equity shares allotted at par to employees.

1989 - A letter of intent was received for enhancement of production
capacity to 8,500 MT per annum of aliphatic amines. The Company
undertook to put up a new amines plant in order to cater to the
demand for amines. This plant was to produce Methylamines and
Ethyl amines.

- A collaboration agreement was entered with Acid Amines
Technologie Inc. USA, for technical know-how package and for
putting up the plant.

1991 - Diethyl, Hydroxylamine and butalamines were introduced.

- During April-May, the Company offered 3,16,686 - 14% secured
redeemable partly convertible debentures of Rs 145 each on rights
basis in the proportion 6 debentures: 25 equity shares held (all
were taken up).

- Another 15,834 debentures were issued to the employees on an
equitable basis (only 15,709 debentures taken up). Unsubscribed
125 debentures were allowed to lapse.

- Rs 45 of the face value of each debenture was to be converted
into 1 equity share of Rs 10 each at a premium of Rs 35 per share
on the expiry of 6 months from the date of allotment of
debentures. Accordingly 3,32,395 share were allotted.

- Remaining Rs 100 of the face value of each debenture was to be
redeemed in 3 annual instalments of Rs 30, Rs 35 and Rs 35
respectively at the expiry of 6th, 7th and 8th year from the date
of allotment of debentures.

1992 - The Company issued 25,000-14% cumulative redeemable preference
shares of Rs 100 each to General Insurance Corporation of India
and its subsidiaries and allotted them on 2nd April. These are
redeemable after 10 years from the date of allotment.

1993 - The Company proposed to implement their speciality chemicals
project through its subsidiary Alkyl Organics Ltd.

- During June-July, the Company issued 9,98,037 No. of equity
shares of Rs 10 each for cash at a premium of Rs 20 per share
each with a detachable warrant on rights basis in proportion 3:5.

1995 - Plant for Diethyl Toluamide and Diethyl Phenyl Acetamide was
commissioned. Plant for diethyl hydroxylamine was being

- The Company entered into a strategic marketing alliance with Rohm
& Haas of USA for marketing of their primene range of amines in

1996 - The Company commissioned multipurpose plants to make various
amine derivatives in their facilities at Kurkumbh. The Company
commissioned multipurpose plants to manufacture Diethyl Toluamide
and Diethyl phenyle acetamide which have repellant properties
for usage by plants like Bayer India Ltd.

- The Company proposed to set up a dedicated 10,000 tpa Ethylamines
plant at Kurkumbh to improve quality, get better yields and at
lower cost of production.

- 9,96,185 No. of equity shares issued on warrant holders
exercising their rights for conversion. Warrants were issued
through a letter of offer issued in May 1993. In August 1996,
Company allotted 9,96,185 No. of equity shares of Rs 10 each at
a prem. of Rs 30 per share against warrants.

1997 - The Company streamlined its plant for manufacture of
Dimethylaminopropolyamine and improved its efficiency.

- 36,52,610 bonus equity shares issued in prop. 1:1.

1998 - During the year the company undertook to set up a Hydrogen plant
at Kurkumbh.

- The Company entered into a joint venture with Goldschmidt AG,
Germany, leading manufacturers of industrial surfactants and
speciality chemicals with emphasis on organo-modified silicone
based chemistry.

- The Company alonwith Mr. Amit Mehta & Associates proposed to
acquire from M/s. Sintex Industries Ltd. and their Associate BVM
Finance Ltd., their controlling sake of 32% of the share capital
of Diamines and Chemicals Ltd., Baroda subject to approval of
BIFR and participating Financial Institutions.

2000 - Alkyl Amines Chemicals has commissioned two new plants -
Ethylamines and hydrogen at its Kurkumbh facility near Pune in


-Alkyl Amines Chemicals Ltd has has appointed Mr. Suneet Y Kothari as Executive Director of the Company.