1991 - Kay Pulp And Paper Mills Limited was incorporated as private
limited company on 15th May, in Mumbai and converted into a
public limited company on 21st June, 1993. It was promoted by
Niraj Chandra and Praveen Chandra. The Company manufacture Kraft
1996 - The Company undertook to expand its installed capacity for
manufacture of kraft paper from 9900 tonnes to 15000 tpa. It was
proposed to install a power generation plant for captive
1997 - The overall working was affected by workers' slowdown agitation
in the last quarter and strike in February.
- With the continuous rise in power tariff and with power expected
to become dearer the company proposed to install a bagasse based
combustion boiler to produce 4 MW of power.
- 17,00,000 shares allotted to promoters, directors etc. 1,60,000
shares allotted to Western Maharashtra Development Corpn. Ltd.
During March, 1995 the Company issued through a prospectus
43,80,000 No. of equity shares of Rs 10 each at a prem. of Rs 5
per share as follows: (i) 10,80,000 shares to promoters,
directors, their relatives. (ii) 7,92,000 shares to NRIs/OCBs.
(iii) 1,00,000 shares to GIC Mutual Fund. (iv) 3,00,000 shares to
Century Mutual Fund. (v) 1,00,000 shares to SICOM Ltd. (vi)
1,00,000 shares to United Western Bank Ltd. Of the remaining
20,000 shares issued to the employees on preferential basis.
Balance 18,88,000 shares issued to the public.
2001 - The Board of the company has made an allotment of 44 lakh No. of
equity shares of Rs 10 each fully paid-up to the promoters and their associates.
2003 - Delisting of shares from Delhi and Ahmedabad Stock Exchanges.
-Company name has been changed from Kay Pulp And Paper Mills Ltd to Kay Power And Paper Ltd.