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Alok Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1986 - Alok Textiles Industries Limited was incorporated as a private
limited company on 12th March, and the name was changed to Alok
Textile Private Ltd. on 17th November, 1992. The Company was
subsequently converted into a Public Limited Company on 11th
February, 1993. It was promoted by Alok Group of Jiwrajka
family, Mumbai.

1993 - The Company undertook to set up a weaving project at Tanghar,
Bhiwadi, dist., Thana for its weaving preparating and weaving
unit. 50 nos. automatic looms and one warping machine of
cimmco make were procured for the expansion of its texturising
unit the Company installed imported roto jet clip set of
Heberlien Machinenfabric AG Switzerland make on 108 spindles.

1995 - To overcome the short coming the Company set up state-of-the-art
process house at New Mumbai.

- The Company undertook to integrate its activities by setting up
facilities for knitting and processing to cater to garment
export industry. The knitting project housed at Silvassa
was to facilitate production of 1226 TPA of cotton knitted
fabrics by installing 8 nos. imported Mayer & Cue circular
knitting machine.

- The Company also undertook to set up a state-of-the-art
textile process house for processing of cotton viscose fabrics
and cotton knitted fabrics. The unit was to have an installed
capacity of 201.60 lakh meters p.a. of woven fabric and 2688
TPA of knit processing.

- 12,30,096 equity shares subscribed (of these 7,45,396 shares
allotted as bonus shares). 25,15,000 equity shares of Rs. 10
each were then issued at a premium of Rs. 10 per share in
February 1993 as follows: (i) 2,65,000 shares allotted on a firm
basis to promoters, directors their firends etc. (ii) 2,25,000
shares issued to NRIs/OCBs on preferential basis, (iii)
Balance 20,25,000 shares issued to public.

1996 - The Company increased its capacities in yarn production to
accommodate the increase in demand by virtue of fall in prices
and due to shift in preferences from cotton to polyester.

- The Company undertook to modernise its weaving operations by
installing Sulzer Projectile loom at Rakholi, Silvassa for the
manufacture of 100% cotton fabrics of wider width with an
installed capacity of 25.58 lakh metres p.a. M/s. Gherzi
Eastern India Ltd. were appointed for executing the project
on a turnkey basic.

- 74,90,192 Rights Equity Shares issued (Prem. Rs. 10; Propn.
2:1.)

1997 - As per permission sought at the Extra-Ordinary General Meeting
held on 30th April, deal pertaining to sale of the Company's
unit at 65-A, Piparia Industrial Estate, Silvassa was concluded.

1998 - 12,40,000 No. of equity shares of Rs 10 each (prem. Rs.8)
allotted to Indianan Ford Mauritius Ltd. on private placement
basis. 22,50,000 No. of equity shares (prem. Rs 10 per share) to
promoters of the Co. 87,77,000 No. of equity shares allotted to
Centering Direct Fund (Mauritius) and another 3,65,700 No. of
equity shares at par allotted to TCFC Finance Ltd. on
preferential basis.

2002

-Commissions the Process house and Weaving plants at Vapi and Silvassa respectively.

2003

-Bags $20 million loan from IFC and sanctions $17.5 mn.

-Appoints M/s Deloitte Haskins and sells as concurrent auditor of the company.

-Arisaig partners has acquired 4,07,500 shares through open market purchase.

-IDBI sells 2.08% shares of the company.

-Members approve for delisting of the shares of the company from 3 stock exchanges (Madras, Delhi, Ahmedabad).

-UTI Asset Management Company has withdrawn the nomination of Shri Mahesh C Verma as the Nominee Director on the Board of the company.

-The Company has informed that Madras Stock Exchange Limited (MSE) have vide their letter dated December 12, 2003 delisted the equity shares of the company. The quotation for the equity shares of the company have been removed from the official list of MSE w.e.f. December 12, 2003.

2004

-Alok Industries Limited has informed that the Delhi Stock Exchange Association Limtied (DSE) have delisted the equity shares of the Company from DSE wef January 23, 2004.

2005

-Alok Industries awarded 'Silver Trophy' by TEXPROCIL

2007

-Alok Industries Ltd has informed that Credit Analysis & Research Ltd (CARE) have vide their letter dated May 18, 2007 revalidated a 'PR1' (PR One) rating for the Company's Commercial Paper program / MIBOR linked to the short term Non-Convertible Debentures / other short term instruments for an amount of Rs 200 crore (size enhanced from Rs 100 crore) for a maturity upto 3 months.

2009

- The Company has issued rights in the ratio of 83:40 at a premium of Re 1.
 
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