1978 - The Company was incorporated on 28th March. A scheme of
arrangement and amalgamation between the Calcutta Electricity
Supply Corporation Ltd. (CESC), its stock holders and the Company
dated 6th December 1978 became operative from 2nd April 1979.
The Company owns and works the Calcutta and District Consolidate
Electric License 1946 (granted licenses) for the supply of
electricity for all purposes in and around Calcutta.
1979 - The Company issued and allotted on 7th April, 71,94,951 No. of
equity shares of Rs 10 each and 32,07,029 - 7 1/2% preference
shares of Rs 10 each credited as fully paid-up to the persons
who, at the close of business on 1st April, were the holders
respectively of the CESC Ordinary Stock: For every 5 nominal of
6% cumulative preference stock of CESC and for every 5 nominal
of ordinary stock of CESC, eight equity shares of Rs 10 each of
1981 - Issued 3,00,000 No. of equity shares to ICICI. 6,50,000 No. of
Equity shares to IDBI and 3,00,000 No. of equity shares to LIC
all at par in part conversion of loans.
1985 - The Company issued 8,50,000 - 15% secured, redeemable,
non-convertible debentures of Rs 100 each on rights basis in
February to meet its working capital requirements.
1986 - The Company secured during the year a contract for erection of
their Lalmatia (Bihar) 220/132 KV substation. Another contract
was secured from BHEL for erection of their 400 KV substation at
Kolaghat (West Bengal). The company was also entrusted with the
preparation of feasibility studies for captive power generation
1987 - The name of the Company was changed from The Calcutta Electric
Supply Corporation Ltd., to CESC Ltd., with effect from 1st of
1988 - A Memorandum of Understanding was signed between the consultancy
& Contracts division and the company by Neyveli Lignite
Corporation for cabling work. A MOU was signed between the
Consultancy & Contracts Division and MECON, a public sector
consultancy firm to jointly undertake consultancy and
construction contracts in power and engineering field both in and
1991 - All statutory clearances were received for the 500 MW power
station at Budge Budge.
- The Company proposed to set up a 3 x 250 MW coalfired thermal
power station at Balagarh.
- The Company proposed to issue 20% secured redeemable
non-convertible debentures aggregating Rs 20 crores on private
placement basis to financial institutions.
- During March, the Company offered 33,89,006 No. of equity shares
of Rs 10 at a premium of Rs 15 per share to the equity
shareholders on Rights basis in the proportion of 1:5 and
1,69,451 No. of equity shares of Rs 10 each at a premium of Rs 15
per share to the permanent employees/workers of the Company on an
- The company issued 8,71,500-12.5% secured redeemable partly
convertible debentures of Rs 600 each as follows: (i) 4,65,000
debentures were reserved for a preferential allotment to the
equity shareholders; (ii) 43,575 debentures were reserved for
preferential allotment to the permanent employees/workers of the
Company on an equitable basis and (iii) 3,62,925 debentures were
offered to the Indian Public.
- Part 'A' of Rs 250 of each debentures was to be converted into 10
equity shares of Rs 10 each at a premium of Rs 15 per share at
the end of six months from the date of allotment.
- Part 'B' of Rs 350 of each debenture was to be redeemed at par in
5 equal instalments of Rs 70/- each at the end of 7th to 11th
years from the date of allotment.
- The Company allotted (including permitted retention) 9,17,598
debentures and 39,94,596 No. of equity shares effective 11th
June, 1991 respectively.
1992 - The Company proposed to undertake the project for a high
installed capacity of 1,500 MW to be completed in three states -
Stage-I of the project comprising 2 x 250 MW units having an
installed capacity of 500 MW which will be followed by one 500 MW
unit in the second stage and another 500 MW unit in the third
- The Company finalised to issue 1,55,43,240-16% secured redeemable
non-convertible debentures of Rs 100 each for cash at par in
order to raise resources for meeting a part of the requirements
of the Budge Budge power station project and also for meeting the
Company's working capital needs.
1993 - Approvals/clearances were received. The Company entered into an
agreement with Rolls Royce Power generation system for turnkey
execution of the project.
1994 - The Company proposed to set up a 1500 MW thermal generating
station to be completed in 3 stages.
- During April, the Company issued 83,66,140 Global Depository
receipts representing 83,66,140 shares together 33,46,456
warrants to subscribe for GDRs in units of 5 GDRs and 2 warrants.
The issue price was US $ 53.34 per unit.
1995 - A new Company Integrated Coal Mining Pvt. Ltd. was promoted by
the Company to undertake the work of particularly power companies
to be directly involved in mining.
- The Company issued 3,00,000 - 14% secured redeemable
non-convertible debentures of Rs 100 each on private placement
basis to financial institutions. These debentures are redeemable
in five equal annual instalments at a premium of 5% from 9th
- 50,00,000 No. of equity shares allotted on conversion of warrants
attached to 16% NCD.
1996 - The Company has promoted a new company Balagarh Power Company
Ltd., for setting up a 1500 MW thermal power station.
- CESCON, Ltd. is a wholly owned subsidiary of the Company. It
carries on consultancy contracts and other allied business
- 89,31,620 No. of equity shares of Rs 10 each allotted at a price
of Rs 50 per share on conversion of warrants. 30,14,465 No. of
equity shares of Rs 10 each Rs 1 paid up allotted at a price of
Rs 50 per share on conversion of warrants. 34,97,000 No. of
equity shares of Rs 10 each. Rs 1 paid up allotted at Rs 80 per
share on conversion of warrants.
1997 - 120,00,000 pref. shares redeemed. 8,103 No. of equity shares
allotted on conversion of warrants attached to 16% NCD.
- CESC is also setting up a 1,500-mw thermal power station in two
or three stages at Balagarh.
- The largest disadvantage for the company is that it is situated
in a state which is the strong hold of the Leftists.
1998 - The long term rating of Rs.1550 million Non Convertible Debenture
Programme of CESC Ltd. has been downgraded from LAA to LA,
indicating adequate safety, by Investment Information and Credit
Rating Agency (ICRA).
- The Calcutta Electric Supply Corporation, renamed CESC Ltd. in
1987, has been lighting up Calcutta for over 100 years.
- The company are the 2 per cent effective tariff increase after
several months, which came in November 1996.
- 20,00,000-14.5% pref. shares redeemed. 101,88,665 equity shares
of Rs. 10 each Rs. 5 per share paid up allotted on 15th Feb. 1999
on conversion of equity warrants 'B' attached to 15% NCD.
1999 - CESC Ltd. has demanded another hike in the fuel surcharge (FSC)
rates for a three year span form 1996-97 to 1998-99.
- CESC's existing licensing agreement will be made to include
borderline areas of the city currently within the jurisdiction of
- The company has grown into a 650 MW capacity generating and
- The company has initiated a series of interactive programmes on
'Building Excellent Service Provider' for its employees.
2000 - ICRA has downgraded the rating of the Rs 155.3 crore NCD issue of the
company to LBBB+.
2001 - The Titagarh Thermal Power Station of CESC Ltd. has been awarded the
ISO 9002 certification.
-CESC Board approves proposal for amalgamation of subsidiary.
-Appoints Mr Tarun Kumar Ray as the Nominee director of IFCI on the Board of the company
-Court orders the company to pay Rs. 3 cr to Damodar Valley Corporation.
-Government nominates Mr Birenjit Kumar Paul on the Board of the company.
-Chemithon Engineers Ltd along with Heavy Water Board of the Government starts work on development of a process to bring down emission levels at the company.
-Unveils multi-pronged scheme to curb pollution at its thermal power facilities.
-Board approves to allot shares to Management Group & Associates.
-Introduces Voluntary Separation Scheme for all permanent employees of the company who have completed 10 years of service and attained 40 years of age.
-2300 employees apply for CESC's retirement scheme
--Hindustan Lever Ltd tied up with the private sector power utility, CESC Ltd, for sampling of Pepsodent toothpaste. 'Touchbase with Kolkata' project said that with its April bills CESC would be sending out 14.1 lakh covers carrying the Pepsodent label and a small 15 gm tube of toothpaste with a new flavour.
-PTC forges alliance with CESC
-CESC ties up with HLL
-CESC ties up with Power Finance Corporation (PFC) to repay debt
-CESC executes MoU with Govt of Jharkhand
-CESC Ltd has forayed into a memorandum of understanding with the Government of Bihar to establish a 2,000-MW power plant in the State's Bhagalpur district at an investment of Rs 10,000 crore.