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Gujarat Borosil Ltd. Company History and Annual Growth Details

1988 - The Company was incorporated as 'Gujarat Window Glass Ltd.'
(GWGL) on 22nd December. Subsequently, the name of the company
was changed to the present one, on 20th February, 1992. Promoted
by Borosil, a company set up in technical collaboration and
financial participation with Corning Glass Works, USA.

- The company has entered into an agreement with M/s. Eurocommerce
Ltd. under consortium with vitrocerprojekt for supplying designs
and drawings to the fabrication of sheet glass melting furnace
for a total considerations of US $2,60,000.

- Also entered into an agreement with M/s. HSO Sheet Glass Company,
Szczakowa Polland for supersision of erection and commissioning
of the plant for a fee/service charge of US $4,01,400.

1989 - Swapan Properties Ltd. an investment company incorporated on 10th
May is a subsidiary of the company.

1994 - Allotted 1,67,90,000 No. of equity shares to directors, their
friends etc. 1,97,700 No. of equity shares were allotted to

- Another 8,200 shares were allotted to corporate shareholders of
Borosil Glass Works Ltd. Another 7,51,000 shares were allotted
to the shareholders of Borosil Glass Works Ltd. and Window Glass

- 1,18,08,100 No. of equity shares were allotted to Indian public
on 22nd March 1993 (all were taken up).

- The Company has allotted 33,82,000 No. of equity shares of Rs. 10
each to the term lending financial institutions by conversion
of a portion of their loans.; another 14,24,930 No. of equity
shares issued at a premium of Rs. 4.05 per share by way of
preferential allotment to the promoter company.

1995 - During the company was privately placed 19.5% secured redeemable
Non-convertible debenture of Rs. 100 each amounting to Rs. 324
lakhs with ICICI.

1996 - Company has issued 19.5% secured Redeemable Non-convertible
Debentures of Rs. 100 each amounting to Rs. 420 lacs and Rs.
350.50 lacs to IDBI and IFCI respectively on private placement

2002- Gujarat Borosil Ltd has informed BSE that, IDBI has withdrawn the nomination of Mr S Gopalan from the Board of Directors of the company w.e.f. January 07, 2002.

2003-Voluntary delisting of the equity shares of the Company from the Ahmedabad, Kolkata and Vadodara Stock Exchanges.


-Gujarat Borosil Ltd has informed that the equity shares of the company have been delisted from the Ahmedabad Stock Exchange wef March 31, 2004.


-Delist equity shares from The Calcutta Stock Exchange Association Ltd (CSE).