1987 - The Company was incorporated on 4th Feb. at Ahmedabad. The
Company was promoted jointly by Industrial Oxygen Co. Ltd. along
with its subsidiary, a part of the Siddho Mal Group and Gujarat
Industrial Investment Corporation, Ltd. (GIIC).
- The Company entered into technical collaboration agreements with
Stearns Catalytic division, a division of United Engineers &
Constructions Inc. U.S.A. (A Raytheon Company). Stearns have
back to back agreements with Pennwalt Corpn. U.S.A. and Stauffer
Chemicals Corporation U.S.A. for licences for technology
1988 - 9,50,070 shares allotted to promoters, etc. 70,49,930 shares
then issued at par of which the following shares were reserved
and allotted on a firm basis:
- (i) 22,49,930 shares to promoters, etc. and
- (ii) 8,80,000 shares to GIIC (Co-promoter). Out of the remaining
39,20,000 shares, the following shares were reserved for
allotment on a preferential basis:
- (i) 15,68,000 shares to NRI on repatriation basis (only 6,12,800
shares taken up and 4,00,000 shares to employees of the company
(only 65,000 shares taken up).
- The balance 19,52,000 shares, along with the unsubscribed portion
of 12,90,200 shares out of preferential quota were offered to the
public in October. Additional 5,88,000 shares allotted to retain
1991 - 13,70,000 No. of equity shares allotted at par to Industrial
Oxygen Co., Ltd., in conversion of loan.
1992 - 16,20,000 shares allotted to conversion of loans.
1997 - The company has set up a project identification cell, which is
scanning the economic environment to spot good business
opportunities, either on its own or with the help of outside
1999 - The company has identified the-entertainment industry as a key
diversification area, and is considering setting up a national
chain of multiplexes.
-Inox Leasing and Finance Ltd has proposed to acquire 8 77 900 equity shares of the company from Gujarat Industrial Investment Corpn. Ltd (7.58 per cent) at Rs. 134 per share.
-The promoters of the Rs 500 crore Inox Group, suppliers of industrial gases, has diversified into destination leisure and entertainment business
- The Company has splits its face value from Rs2/- to Rs1/-.
- Gujarat Fluorochemicals Ltd has appointed Shri. Chandra Prakash Jain as an additional director on the Board of the Company. He is an Independent director on the Board of the Company.