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Grasim Industries Ltd. Company History and Annual Growth Details

1947

- The Company was Incorporated on 25th August, at Gwalior. The
Company Manufacture viscose staple fibre, carbon-di-sulphide,
sulphuric acid, sodium sulphate, rayon and cotton fabrics, rayon
grade pulp, paper, etc. The company also owns an engineering
workshop.

1951

- 1,50,000 Right Pref. shares issued at par in prop. 3:1,
24,50,000 Right Equity shares issued at par in prop. 49:1.

1953

- 1,33,000 Right equity share of 1951 subscribed. In October,
10 lakh Rights equity shares issued at par (Prop. 5:6 Equity or
Pref.).

1956

- In September 1955, 4,57,000 Right Equity shares issued at par
(Prop. 1:2.50 equity and/or Pref.)

1959

- 50,000 Pref. shares issued at par in propn. 1:50 (Only 765
shares taken up).

1963

- The Company purchased a cotton textile mill at Bhiwani
(Punjab) with an installed capacity of 18,000 spindles and 286
looms and named it as Bhiwani Textile Mills.

1967

- The Company applied to Government for permission to establish
a polynosic fibre unit in Harihar (Karnataka) with a production
capacity of 100 tonnes per day.

1968

- In December, 5,00,000 bonus equity shares issued in propn.
1:10.

1969

- In August 2,00,000 - 9.3% Pref. shares offered to public. In
August 1970, 11,00,000 bonus equity shares issued in propn. 1:5.

1971

- 765 'B' Pref. and 1725 'A' Pref. shares redeemed on 31.3.1972.

1974

- The Company received a letter of intent for setting up a
polynosic fibre unit at Harihar (Karnataka) with a production
capacity of 100 TPD.

- The Company revalued the machinery and equipment of its staple
fibre and pulp units. The Company again revalued the major
items of plant and machinery installed in its staple fibre and
pulp division as on 1st April, 1980. The value of the assets of
the Company's caustic soda plant and new power plants situated
at Birlanagram, Nagda were revalued as on 1st April, 1985.

- 39,60,000 Bonus equity shares were issued in prop. 3:5.

1976

- 52,80,000 Bonus Equity shares issued in the prop. 1:2.

1979

- The Company participated in a joint venture project in Bihar
for the manufacture of 33,000 tonnes of caustic soda per annum.
For this purpose, a new Company under the name and style Bihar
Caustic & Chemicals, Ltd. was formed.

- 20,00,000 No. of Equity Shares issued (Prem. Rs 25 per share)
1,00,000 shares reserved and allotted to employees; 3,64,918
shares allotted as Rights to shareholders who were individuals
in prop. 3:25 and 15,35,082 shares offered to public.

1980

- The Company joined as co-promoter with Tamil Nadu Industrial
Development Corporation, Ltd. for setting up an aluminium
fluoride manufacturing plant in Ramnad, a backward district in
Tamil Nadu. For this purpose, a new company under the name and
style Tamil Nadu Fluorine & Allied Chemicals, Ltd. was
incorporated.

- The Company entered into a collaboration agreement with the
State Industrial and investment Corporation of Maharashtra
(SICOM) for setting up a gas-based sponge iron project with a
capacity of 4 lakh tonnes per annum.

1982

- The Company issued 18,75,000-13 1/2% convertible bonds of the
face value of Rs 160 each for an aggregate amount of Rs 30
crores. Rs. 40 out of each bond is convertible into 2 equity
shares of Rs 10 each at a premium of Rs 10 per share on 1st
April 1983. The balance of Rs 120 per bond will be repayable at
par in 5 equal annual instalments commencing from the 8th year
from the date of allotment.

1984

- The Company received a letter of intent for the manufacture of
stable bleaching powder with an annual capacity of 10,000 tonnes
to be implemented in two phases of 5,000 tonnes per annum each.

1985

- A collaboration agreement was entered into with LVD Company
N.V., Belgium for the manufacture of sophisticated balers for
the man-made fibre industry.

- The Company joined as one of the co-promoters in Indo-Gulf
Fertilisers and Chemicals Corporation, Ltd. (INDOGULF), which
set up a project for the manufacture of 1,350 tonnes per day of
ammonia and 2,200 tonnes per day of urea at Jagdishpur, Uttar
Pradesh.

1986

- The Company entered into collaboration agreement with Nevmag
of W. Germany for the manufacture of a wide range of equipments
from spinning down to cutter for polyester, polyamide,
polypropylene and acryulic fibre machineries. The Company also
explored the possibilities for entering into collaboration for
the manufacture of specialised equipment for petrochemical and
other chemical industries.

- Stable bleaching powder (SBP) was marketed under the brand
name 'Vikram SBP' and a beginning was also made in the exports
market.

- The name of the Company was changed from Gwalior Rayond Silk
Mfg. (Wvg.) Co., Ltd. to the present one with effect from 22nd
July.

1987

- The plant continued to remain closed. The strike by workmen
since 7th July, 1985 was called off consequent to a conciliation
agreement arrived at on 27th October, 1988 and resumed
production on 29th June, 1989.

- A letter of Intent was received to install 5,000 worsted
spindles at Malanpur in Bhind District, a backward A class area.
The licensed capacity of caustic soda plant was re-endorsed at
90,000 tonnes per annum.

- The Company proposed to participate in the Mangalore Refinery
and Petrochemicals Ltd., a joint venture formed by Indian Rayon
& Industries Ltd., Hindustan Petroleum Corporation, Ltd. to the
extent of 12% in the equity capital of the Company. This joint
venture was to have a capacity of 3 million tonnes per annum a
petrochemical complex to produce a minimum of 2,50,000 tonnes
per annum of ethylene.

- A letter of intent was received to set up a gas-based sponge
iron project with an installed capacity of 6 lakh tonnes per
annum in the Raigad District of Maharashtra.

- Approval from Government was received for setting up a project
for the manufacture of colour T.V. glass shells in foreign
technical collaboration with the Asahi Glass Company, Ltd.,
Japan.

- Kerala Spinners, Ltd., Gwalior Properties & Estates Ltd.
(GPEL) and Seshasayee Properties Ltd. (SPL) are the subsidiaries
of the Company. During the year, Turquoise Investments &
Finance Ltd. and Trapti Trading & Investments Ltd. became
subsidiaries of GPEL and SPL respectively.

- The Company allotted 60,00,000 - 14% non-convertible secured
debentures (VI series) of Rs 100 each. These debentures are
redeemable at a premium of 5% of face value in three annual
instalments commencing from 8.12.1994.

1988

- The Engineering Division entered into a technical agreement
with Thai Acrylic Fibres, Ltd. for providing technical know-how.
M/s. Andhra Pradesh Rayons entered into a technical
collaboration agreement with the Company for the supply of 45
tonne/day viscose staple fibre plant on a turnkey basis valued
at Rs 38 crores.

- The Company introduced successfully during the year Grasim
'MASTERWEAR' readymade shirts and trousers.

- Steps were initiated to set up the poly aluminium chloride and
the chlorosulphonic acid projects. The Poly Aluminium Chloride
(PAC) project was commissioned in the 3rd quarter of 1990. The
Commissioning of the Chlorosulphoric Acid project was delayed
because of a strike in the supplier's plant which resulted in
the delayed delivery of plant and machinery.

- It was proposed to set up a hydrogen peroxide project with an
installed capacity of 6,000 tonnes per annum at Nagda in
collaboration with a renowned company of U.S.A.

- During December, the Company offered 92,85,714 - 12.5% secured
redeemable partly convertible debentures of Rs 70 each for cash
at par of which the following were reserved for allotment on a
preferential basis:

- (i) 71,42,857 debentures to the equity shareholders of the
Company in the proportion 7 deb: 40 equity shares and

- (ii) 4,64,286 debentures to employees (including Indian
working directors)/workers of the Company on an equitable basis.
The remaining 16,78,571 debentures along with the unsubscribed
portion, if any, from the preferential quota were to be offered
to the public. Additional 13,92,857 debentures allotted to
retain oversubscription.

- The convertible portion of Rs 35 out of the face value of each
debenture was converted into one equity share of Rs 10 each at a
premium of Rs 25 per share on 31st March, 1989. The
non-convertible portion of Rs 35 out of each debenture was to be
redeemed at par in three annual instalments of Rs 10, Rs 10 and
Rs 15 on the expiry of 7th, 8th and 9th years respectively from
the date of allotment of debentures.

1989

- The cotton textile mill unit's working was affected by
protracted labour unrest and strike by workmen.

- The Company issued 115,00,000-14% secured redeemable
non-convertible debentures of Rs 100/- each (VIIth Series) on
rights basis to resident Indian equity shareholders, in the
ratio of 245 debentures for every 1000 equity shares held.
Additional 15,74,982 debentures were allotted to retain over
subscription. As per the terms, the entire amount of Rs 100/-
will be redeemed in three equal annual instalments beginning at
the end of 6th year from the allotment date with a premium of Rs
5/- per debenture.

- During September, the Company issued 1,04,16,666-12.5% secured
redeemable partly convertible debentures (IInd Series) of Rs
120/- each to the existing equity shareholders in the ratio of
21 debentures for every 100 equity share held. All were taken
up. Additional 15,62,500 debentures issued to retain
oversubscription. 5,20,834 debentures were also offered to
employees/workers of the Company but only 61,940 debentures were
taken up. The balance of 4,58,894 debentures were allowed to
lapse.

- As per the term of issue, Rs 60 of each debenture was
converted into one equity share of Rs 10 each at a premium of Rs
50 per share at the end of six months from the allotment date,
i.e. on 1.6.1990. The balance Rs 60/- of each debenture was to
be redeemed at par in three equal annual instalments of Rs 20/-
each at the end of 7th, 8th and 9th years from the allotment
date. This issue was made to part finance the sponge iron
project.

1990

- The Company received two letters of intent for setting up new
green field site portland cement plants each having an annual
capacity of one million tonnes-one in Baloda Bazar, Dist. Raipur
(M.P.) and the other at Shambhupura, Dist. Chittorgarh
(Rajasthan).

- The Company issued 1,30,00,000-14% secured redeemable
non-convertible debentures of Rs 100/- each (IXth Series) and
25,00,000-14% secured redeemable non-convertible debentures of
Rs. 100/- each (VIIIth Series) to finance new cement plant at
Raipur (M.P.).

1991

- The Engineering division undertook to manufacture equipments
for dairy and sponge iron plants. It also manufactured and
supplied the state of the art technology lift-box design baling
press with autorotation and auto-bale weighing device. It also
explored the possibility of supplying know-how and consultancy
services along with plant and machinery to existing and
potential manufacturers of rayon - both fibre and filament, in
China.

- The working of the mill was affected to some extent by labour
problem leading to a forced lock-out in the spinning section
since February 17th, 1992 and resumed to work with effect from
10th October.

- The Company issued and allotted 15,00,000-14% non-convertible
debentures (XI Series) of Rs 100 each. These are redeemable in
three instalments commencing from 26th March, 1997. The Company
issued and allotted 155,00,000-18% non-convertible debentures of
Rs 100 each (X Series) redeemable in three annual instalments
Commencing from 18th October, 1997.

1992

- An aggregate of 6,933,745 GDS were offered at an initial price
of US $12.98 per GDS by managers concurrently to (i) qualified
institutional buyers (UIBs) in the USA and (ii) persons in
offshore transactions.

- The Company proposed to issue Euro equity to the tune of UA
$100 million to investors abroad. The Company proposed to issue
another Euro equity to the tune of US $125 million.

1994

- The cotton textile mill unit undertook to set up a new unit
'Elegant Spinners' with 14,000 spindles.

- The Company issued the following debentures on private
placement basis: (i) 160,00,000-16.5% (xiii Series) redeemable
in 3 instalments commencing from 11.7.2000, (ii) 70,00,000-15%
debentures redeemable in 3 annual instalments commencing from
19.1.2001.

1995

- A new range of fabric under the brand name ADONIS was
introduced.

- Birla Capital International AMC Ltd. an asset management
Company was set up as a joint venture with Capital Group
International Inc., a major US based investment management
organisation. The Unit launched Birla Advantage Fund in
February.

- The Company undertook to set up joint venture power projects
to be set up in U.P. & M.P. These are to be set up in
Collaboration with Powergen Plc., U.K. for Rosa power project of
1000 MW and Bina Power project of 1000 MW detailed techno
economic study was undertaken.

- The Company undertook to set up a joint venture, Alexandria
Carbon Black Co., in Egypt to produce 20,000 tpa of Carbon black
at full capacity with an equity participation of an approximate
value of US $ 2.25 million, i.e. Rs 7.10 crores representing 15%
of the total equity capital.

1996

- A new synthetic denim with an universal blend of polyster,
viscose, cotton was launched under the brand name SUMO.

1997

- The Cotton textile division launched a novel denim brand
'Jusilk' using a blend of polyester and jute, along with a
unique water repellent denim.

- In order to establish its own viscose fibre spinning
facilities the Company entered into a leave and licence
agreement with Eastern Spinning Mills & Industries, Ltd.,
Calcutta for running its spinning unit for a period of 3 years
from 27th July, 1984. This spinning unit had an installed
capacity of about 25,000 spindles.

- A new division, Vikram Premium RMC was formed for production
of Ready Mixed Concrete. The Company applied for an industrial
licence to set up a gas-based fertiliser plant for the
manufacture of 4.5 lakh tonnes of ammonia and 7.5 lakh tonnes of
urea per annum in U.P.

- The flagship company of the Aditya Birla group, Grasim is
setting up yet another plant to manufacture rayon grade pulp.

- Grasim Industries Ltd., a flagship company of the Aditya Birla
Group, has reached final stages of negotiation with the
Rajasthan Government for setting up 200 TPD rayon grade pulp
plant at Amarpura, about 100 km from Bikaner.

- Grasim Industries Ltd., has signed an agreement with National
Securities Depository Ltd., (NSDL) and MCS Ltd. to dematerialise
its shares. Grasim has its in-house share department.

- The company is setting up a new plant in Pondicherry for the
production of radial tyres.

1998

- Grasim Industries Limited (GIL) has claimed to have developed
a synthetic suiting for the first time in the country.

- Vikram Ispat, a unit of Grasim Industries and a part of the
Aditya Birla group, has bagged Maharashtra Government's export
award for highest export of hot briquetted iron (HBI) which is
an integral ingredient of the steel sector.

- Shareholders of Indian Rayon Ltd. will get three shares of
Grasim Ltd. for every ten shares held, as a part of the cement
business restructuring by the A.V. Birla group.

- Vikram Cement, a unit of Grasim Industries, Mandasaur has won
the IMC's Ramakrishna Bajaj National Quality Award Trophy, and
Hindustan Lever's unit at Chindwara has bagged its certificate
of merit for 1998.

1999

- Grasim Industries Ltd. has suspended production at its pulp
and staple fibre units located at Mavoor, Kerala for want of raw
material.

2000

- Grasim Industries Ltd, the Aditya Birla group company, has
launched market-seeding for its new micro grade viscose staple
fibre - Grasi Soft.

- Grasim Industries Ltd. proposes to merge its wholly owned
subsidiary Dharani Cements Ltd. with the company.

- The Company has hived off the Software Division, called Birla
Consultancy and Software Services into a separate subsidiary.

- The Company has launched Kool Wool, a polyester viscose
blended suiting fabric, under the Graviera Suiting umbrella
name.

2001

- The Textiles division of Grasim Industries Ltd. has introduced
a trouser fabric, Aquasoft.

- Dharani Cements Limited, a wholly owned subsidiary of the
company, has been amalgamated with the Company under the Scheme
of Arrangement in terms of section 391/394 of the Companies Act
1956 effective from 1st November, 2000.

- The Company has transferred its Software Division to its
wholly owned subsidiary company Birla Technologies Limited,
effective 1st February.

2002

- Birla Technologies ceases to be subsidiary of Grasim Industries

-Grasim, Pantaloon in technical tie up to manfacture Viscose Staple Fibre (VSF)

-Grasim, L&T set up joint task force for logistics, promotion and procurement of raw materials

-Acquires additional 2.84% stake of L&T, increases the stake to 12.89%

-Stops production at Staple Fibre Plant located at Nagda due to water shortage

-Restarts production at Staple Fibre Plant located at Nagda

- Grasim Industries hikes its holding further in Larsen & Toubro (L&T) which stands at 13 per cent as on June 30

-Approves sale of equity shares in Mangalore Refineries to ONGC

-Mops up Rs 50cr through inverse floater

-Acquires 1.26 lac shares of Larsen & Toubro, takes its stake to 14.15%

-Increases its stake in L&T to 15.15 per cent

-SEBI asks Grasim to put on hold L&T open offer

-Sends legal notice, challenging Larsen & Toubro's attempt to demerge the cement business into a separate company

2003

-Puts forward alternate proposal for L&T cement demerger

-Agrees to pay Rs 130 per share for acquiring the cement company formed by splitting engineering and construction major Larsen & Toubro

-Acquires L&T's cement business

-SEBI clears the hurdle, allows Grasim to make open offer for L&T

-Enhances L&T open offer size by 10.49 lakh shares

-Delists from Bangalore Stock Exchange

-Grasim's open offer for L&T pie fetches poor response, grabs only 2% through open offer

-Grasim mops-up $50-ml loan from SBI

-Revises open offer price for L&T cement division to Rs 170 per share from Rs 130 per share

-Resumes operations at Nagda plant

-Divests its holding in Indo Gulf Fertilisers Ltd (IGFL), holding in the company comes down from 12.6% to nil

- Re issuance of GDR

-Appointed Shri Y P Gupta as an Additional Director.

-Delisted the shares of the Company from its Stock Exchange.


-Shri Shailendra K Jain has been reappointed as the Whole Time Director of the Company for a period of 3 years wef December 1, 2003.

2004

-Acquires majority stake in Ultra Tech CemCo Ltd (Ultra Tech), the demerged Cement business of L&T

-AV Birla Group flagship Grasim Industries' textile and apparel unit has launched 'Venetia' range of fabric, with the promise of delivering international class suite-length at an 'affordable' Rs 5,000

-Grasim Industries signs an agreement with ST Telemedia & TM International to acquire stake in Idea Cellular

-Delist from the Madhya Pradesh Stock Exchange (MSE), with effect from December 13, 2004

2008

- Grasim Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 23, 2008, has appointed Shri. A K Dasgupta as an Additional Director of the Company.
 
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