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IFB Agro Industries Ltd. Company History and Annual Growth Details

1982 - The company was incorporated as a private limited company on 19th
Feb. under the name of Nag Bottling and Packaging Co. Pvt. Ltd.
The company was promoted by Indian Fine Black Limited, Bijon Nag
and others. The Company manufactures coloured and flavoured
liquors, extra neutral alcohol, technical alcohol, shedge
fertiliser and cattlefeed.

1986 - The Company became a public limited company and its name was
changed to IFB Agro Industries Limited with effect from 3rd

- The Company took over the business of Nag Bottling and Packaging
Company, a partnership firm, which was engaged in the manufacture
of potable coloured and flavoured liquor at Durgapur district
Burdwan in West Bengal.

- The Technical Collaboration process know-how design, engineering
and consultancy for the project was obtained from M/s. Starcosa,
West Germany.

- The Company revalued the plant and machinery and utility
equipment at the Durgapur plant as on 30th June, and arising out
of this was credited to capital reserves.

- Promoters, directors, etc., of the Company were to divest their
equity holding in excess of 40% by an commercial production at a
price not exceeding the prevailing market price.

- 1,04,000 bonus shares allotted to the existing shareholders in
prop. 10:1 as on 11th July. 23,60,000 No. of equity shares then
issued at par of which 9,60,000 shares to promoters including
Indian Fine Blank Ltd., directors, etc., and 3,00,000 shares to
WBIDC were reserved and allotted. Out of the remaining 11,00,000
shares, 5,58,000 shares reserved for preferential allotment as

- (i) 1,18,000 shares to employees of the company (only 30,100
shares taken up) and

- (ii) 4,40,000 shares to NRIs (only 2,11,400 shares taken up).
The balance 5,42,000 shares, together with the unsubscribed
portion of 3,16,500 shares out of the preferential quota, were
offered to the public in July. 2,75,000 additional shares
allotted to the public to retain oversubscription.

1987 - Imposition of various restrictions by the State Government
adversely affected the revenue and capacity utilisation of the

- During the year the Company established a new Project Engineering
and Contract Division to provide technical know-how on behalf of
Starcosa and Engineering Services in Indian and other down
stream chemicals. In this respect, a technical collaboration
agreement was entered into with M/s. Starcosa GmbH of West

1989 - The project and engineering division received an order for
setting up a project for manufacture of alcohol from starch on
the basis of Starcosa technology.

1990 - The Company commenced marketing of its Indian Made Foreign Liquor
brands which were well received in the market. Installation of
additional facilities at the alcohol plant was started.

- Forfeiture on 400 shares annulled. 13,74,700 rights equity
shares issued at par in prop. 1:2 in March, 1991. Additional
2,06,205 shares allotted to retain oversubscription. Another
68,735 shares offered at par to employees but only 67,800 shares
taken up. The balance 935 shares allowed to lapse.

1992 - Bottling facilities at Dugapur were upgraded . The second plant
for manufacture of IMFL was also under implementation.

- The Company proposed to diversify into the field of aquaculture
and related projects and collaboration with a reputed houses was
on the anvil.

- The Company's projects & Engineering division was being
suitably re-oriented in order to integrate its activities and to
take up different projects for implementation both in-house as
well as for external parties.


- Ifb Agro Industries Ltd has appointed Mr. Rahul Choudhary, a member of the Institute of the Company Secretaries of India, who has requisite qualification as prescribed under the Companies (Appointment & Qualifications of the Secretary) Rules, 1988 as Company Secretary of the Company with effect from 2nd April, 2007. Hence, Mr Rahul Choudhary will act as Compliance Officer of the Company.
Oct 26, 12:00 am
Oct 26, 4:14 pm
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