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Jindal Drilling & Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1983 - The Company was incorporated on 17th October, and the Certificate
of Commencement of Business was obtained on 29th October. The
company promoted by D P Jindal. It is engaged in the manufacture
of seamless casing pipes and off-shore oil well drilling
activities.

1984 - 70 shares subscribed for by the signatories to the Memorandum of
Associations and 1,49,930 shares taken up by promoters, etc.
1,50,000 shares reserved for firm allotment to promoters, etc.
50,000 reserved for allotment to business associates and
employees of the company on a preferential basis. 6,50,000
shares along with unsubscribed portion of preferential quota, if
any, were offered at par for public subscription during
February/March 1984. First and final call of Rs 5 per share was
made payable by 31st December, 1984.

1985 - The Company changed its name to 'Jindal Drilling and Leasing Ltd.
from 'Jindal Leasing Ltd.' The name was again changed to
Jindal Drilling & Industries Ltd. in 1989.

1993 - During December 1993/January 1994 the company offered 10,00,000 -
19% partly convertible debentures of Rs 130 each on right basis
to the existing shareholders in the ratio of one debenture for
equity one equity share held. (All were taken up). Another
26,000 debentures were offered to employees. (Only 3,650
debentures were taken up).

- Part 'A' of Rs 100 of debenture was converted into one equity
share of Rs 10 each at a premium of Rs 90 on allotment. Part 'B'
of Rs 30 per debenture was to be redeemed at Rs 15 each on 7th
and 8th year from the date of allotment.

1994 - 25,00,000 No. of equity shares issued (prem. Rs 20) on conversion
of 2,50,000 cumulative convertible preference shares.

2003 - Approved the issue of Bonus shares in the ratio of one equity share for every one share held.


-Company has fixed January 2, 2004 as Record Date for determining the entitlement of members for issuing equity shares as bonus shares in proportion of one new equity share for every one existing equity share held on that date.

2007

- Jindal Drilling & Industries Ltd (JDIL) secured a contract worth Rs 130 crore for three years on firm basis for charter hire of directional drilling equipment and ser vices by ONGC Ltd. These equipment are likely to be operational by the middle of January 2008.

2008

- Jindal Drilling & Industries Ltd has informed that the Board of Directors of the Company at its meeting held on January 31, 2008, has approved the appointment of Mr. Ajay Relan, as Additional Director of the Company.

- The Company has splits its face value from Rs10/- to Rs5/-.

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