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Autolite (India) Ltd. Company History and Annual Growth Details

1977 - The company was incorporated as a private limited company on 30th
June and it became a public limited company on 30th March 1982.
The main promoters of the company were Dharam Pal Gupta, Mahipal
Gupta and Rajpal Gupta. The main objects of the company is to
manufacture lighting equipment. The product range includes auto
head lights, tail lamps, Indication lights, parking lamps, fog
lamps, sealed beams, flasher units, grass shells, auto bulbs,
switches, horns, wiring harness, cut off etc. for all types of
vehicles. The Company for the first time in India developed and
introduced high power lamps and halogen head lamps. The head
lamps manufactured by the Company are sold under the brand name
of 'Autopal'.

1983 - All shares were subscribed for by the promoters, directors, etc.
(34,110 No. of equity shares without payment in cash as
consideration for acquiring the running business of the
partnership firm M/s. Autolite of India).

1984 - Equity shares sub-divided. 1,10,000 No. of equity shares of Rs
10 each taken up by promoters, directors, etc.

1985 - 1,10,000 shares issued to promoters, directors, etc. fully called
up. 6,35,000 No. of equity shares issued at par of which 95,000
shares were reserved for firm allotment to promoters, directors,
etc. Out of the remaining 5,40,000 shares, 37,800 shares were
reserved and allotted on a preferential basis to employees,
working directors, etc. The balance of 5,02,200 shares offered
for public subscription during Nov. 1985.

1988 - With a view to boost exports, the Company proposed to establish a
trading branch, in the USA (which was to be a wholly owned

1989 - The installed capacity was increased from 3.6 lakhs head lamps
per annum to 9.6 lakhs per annum.

1990 - The company commenced implementation of a major expansion project
for expanding the headlamp manufacturing capacity from 6 lakh
pieces per annum to 15.6 lakhs pieces per annum.

- The Company proposed to offer 4,50,000 No. of equity shares of
Rs. 10 each at a premium of Rs 30 per share or such other premium
as may be fixed by the CCI on Rights basis in the proportion 1:2.

- Another 22,500 share at a premium of Rs 30 or such other premium
as may be fixed by the CCI, were also to be issued to the
employees under the Employees' Stock Option Scheme.

1994 - During May 1993, the Company issued 9,00,000 Rights Shares (Prop.
1:1, Prem Rs 60). Another 33,600 shares issued to employees at
prem. of Rs 60. (Only 30,100 shares taken up. 11,400 shares
allotted to IDBI on conversion of loans.

1996 - The Company embarked upon a programme to expand the installed
capacity from 5 lakhs to 12 lakhs pieces of head lamps per annum
at its existing unit at Vishwakarma Industrial Area, Jaipur.

- During Oct. - Nov. 1994, The Company issued 9,20,750 Rights
shares (Prop. 1:2; Prem. Rs 70). Another 22,60,000 shares issued
through a prospectus at a prem. of Rs 80 per share of which
16,40,000 shares reserved and allotted to promoters, Friends,
etc. Another 55,000 shares to employees and Directors. 5,65,000
shares to public. Additional 32,046 shares allotted.

2002-Autolite India Ltd has informed that Mr J P Rawat has resigned from the office of Company Secretary and Mr Vishal Agarwal has taken over his charge with effect from December 09, 2002.
Oct 20, 12:00 am
Oct 20, 4:15 pm
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