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Bhansali Engineering Polymers Ltd. Company History and Annual Growth Details

The company was incorporated on 9th April, 1984 in the name of Bhansali Steels Limited and obtained the certificate of commencement of business on 16th May, 1984.

On 4th January, 1986, the company changed its name to Bhansali Engineering Polymers Ltd.

The main object was to implement the project for manufacture of Acrylonitrile Butadiene Styrene (ABS) Resins.

The project is being promoted by Sarvashri B M Bhansali and P R Bhansali in association with Madhya Pradesh Audyogik Vikas Nigam Limited (MPAVN), an industrial development corporation of the state government of Madhya Pradesh.

The Company has entered into Technical Collaboration Agreement with Sumitomo Chemical Engineering Company Limited (SCEC), through Sumitomo Nagautuck Company Ltd (SNKK), both belonging to Sumitomo Group of Japan.

2000 - The Company has entered into a Sale Agreement and pending its
completion entered into a separate Conducting Agreement with
Polychem Ltd. for its ABS/SAN Unit at Vadodara, for manufacture
of captive consumption as well as for sale.

-The members approved the following in extra ordinary meeting
1. To Increase Authorized Share Capital of the Company from 170 million dividend into 1,70,00,000 equity shares of Rs 10/- each to Rs 200 million divided into 2,00,00,000 Equity Shares of Rs 10/- each by creation of 30,00,000 new equity shares of Rs 10/- each and consequent amendments to Clause V of the MOA of the Company.

2. Issue of 36,50,000 Equity Shares of Rs 10/- each for cash at a premium of Rs 90/- per share aggregating Rs 36,50,00,000 on preferential allotment basis to persons / entities including Bodies Corporate.