1985 - The Company was Incorporated on 23rd May and was promoted by
R.P. Jagatia, J.P. Goenka, M.P. Kankani. The Company's objects
is Manufacturing of tubes and tyres. The Certificate for
Commencement of Business was obtained on 28th May.
- Effective 23rd May, name of Vishal Tyres Ltd. was changed to
Pavan Tyres Ltd. Accordingly 2,45,000 No. of equity shares were
1987 - Effective from 12th March, Pavan Tyres Ltd. Incorporated on 3rd
August, 1984 was amalgamated with the Company the name of Vishal
Tyres Ltd. was changed to Pavan Tyres Ltd. As per the scheme of
amalgamation, one equity share of Rs.10 each of Vishal Tyres was
issued as against one equity share held by the erstwhile
shareholder of Pavan Tyres Ltd. The amalgamation enabled Vishal
Tyres Ltd. with ready infrastructure and organisation of a
1991 - To achieve economies of scale, and cost savings, it was proposed
to amalgamate Govand Rubber Ltd. with the Company and the name of
the company was changed as Govind Rubber Ltd. effective 1st April
As per the scheme of amalgamation, 15,00,000 No. of equity shares
were allotted to the erstwhile shareholder of Govind Rubber Ltd.
in prop. 1:1.
1992 - The Company undertook to manufacture new speciality tyres using
nylon cord and blending of various rubbers including EPDM in
different colours. The total installed capacity of the project
120 lakh tyres and tubes was commenced in two phases, the first
in April 1993 and the balance in October 1993.
- The Company proposed to set up export based project at Bhiwadi
for manufacture of wheel barrow tyres.
- 70 No. of equity shares subscribed for by signatories to the
Memorandum of Association. 7,49,930 No. of equity shares of
Rs.10 each were issued through a prospectus on August 1995 of
which 2,99,930 shares were reserved and allotted to promoters,
their friends etc. 17,45,000 No. of equity shares allotted on
- Another 15,00,000 shares allotted on amalgamation of Govind
Rubber with Pavan Tyres Ltd. 24,95,000 bonus equity shares
issued in prop. 1:2. During September, the Company issued
24,95,000 right equity shares (prop. 1:1, prem. Rs.90).
- Another 50,000 shares were issued to employees at a premium of
Rs.90 per share and 74,750 to Business Associates at a prem. of
Rs.90 per on preferential allotment basis (of these preferential
issue 1,06,650 shares were taken up).
1995 - The production of two-three wheeler tyres was started at Bhiwadi.
The Company also decided to expand the activity by manufacturing
LCV, Tractor front and Jeep tyres.
- The Company entered into an agreement with Union Rubber
Industries Ltd., Taiwan for technical know-how, plant selection,
layout etc. The agreement was valid upto 8 years.
- The collaborators were to market 20% of the production from new
factory to Europe and USA.
1996 - 95,238 No. of equity shares allotted to Chni Fu Wei and Valk Wei,
2003- Issue of equity shares to financial institutions and promoters in the terms of the CDR Package.