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Himachal Fibres Ltd. Company History and Annual Growth Details

1980 - The company was incorporated on 20th February at Delhi. It was
promoted by B.K. Garodia a technocrat in financial collaboration
with Himachal Pradesh Mineral & Ind. Development Corp. Ltd. The
company manufactures cotton and synthetic blended yarn.

1984 - 10,10,045 No. of Equity shares taken up by promoters, etc.
including (HPMIDC). 25-11% Pref. shares allotted to promoters,
etc. 16,19,955 No. of equity shares issued at par of which
89,955 No. of Equity shares reserved and allotted to HPMIDC. The
balance 15,30,000 shares offered to the public in Dec. 1984.

1988 - The Company installed additional balancing equipments.

1989 - The company proposed to instal Ring Data System for individual
spindles for monitoring production efficiency.

- The expansion and balancing scheme involving a capital
expenditure of Rs 110 lakhs was implemented. IFCI gave its
sanction for a marginal expansion cum balancing scheme involving
inter-alia imports of auto coners and combers.

1990 - A marginal expansion cum balancing scheme involving interalia
import of autoconers & combers was taken up and was under
completion. The company submitted another marginal expansion and
balancing scheme involving capital outlay of Rs. 1.3 crores.

- During May-June, the Company offered 3,94,500 No. of equity
shares of Rs 10 each for cash at par on Rights basis in the
propn. 15:100. Only 41,000 shares taken up. Out of the 3,53,500
shares remaining 3,34,000 shares were allotted privately leaving
19,500 shares unsubscribed.

- Simultaneously, another 19,725 No. of equity shares were issued
at par to employees under the Employees' Stock Option Scheme.

1991 - The Company privately placed with Canbank Mutual Fund 18%
non-convertible debentures of Rs 100 each for Rs 95 lakhs. These
debentures are redeemable at 5% premium in three equal annual
instalments commencing from 5th year from 1.1.1992 (the date of
allotment of debentures).

1993 - The Company imported two autoconers from Japan. Efforts were on
to install more balancing equipments to make better use of
existing machines.

1994 - During the year 1,65,000 redeemable cumulative pref. shares were
allotted to SCICI, GIC and its subsidiaries.

- Himachal Fibres Ltd has appointed Mr. Rahul Kalia and Mr. Daljeet Singh Rana as additional directors of the Company by resolution passed by circulation as on March 15, 2010.

- Himachal Fibres Ltd has informed that two Independent Directors has been inducted in the Board, the details are as follows-Directors Appointed- Shri Sushil Singla, Director Independent & Chairman- Shri Rajan Dhawan, Director Independent

- Himachal Fibres Ltd has informed that the Board of Directors Meeting by Circulation dated August 06, 2010 of the company has decided the following in this regard :

1. To Appoint Shri. Rajinder Kumar as a Whole Time Director of the Company: The Board has appointed Shri. Rajinder Kumar as a Whole Time Director of the Company w.e.f. August 06, 2010, subject to the confirmation of the Shareholders at the ensuing Annual General Meeting.
Oct 24, 12:00 am
Oct 24, 4:14 pm
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