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Lords Chloro Alkali Ltd. Company History and Annual Growth Details

1979 - The Company was incorporated on 1st March at Alwar in Rajasthan.
The Company was promoted by Modi Industrial House including Modi
Industries Ltd., Modi Rubber Ltd., Modi Spng. & Wvg. Mills Ltd. &
Modipon Ltd. It manufactures Caustic Soda, liquid chlorine,
hydrochloric acid, and stable bleaching powder.

- The Company entered into an agreement with Uhde India Ltd. for
providing design & detailed engineering for the project. Uhde
India Ltd., is the Indian subsidiary of UHDE GmbH, West
Germany (UHDE).

1982 - 47 shares subscribed for by the signatories to the Memorandum of
Association, 43,72,453 shares reserved and allotted to promoters,
etc. and 4,00,000 shares reserved and allotted to promoters, etc.
and 4,00,000 shares reserved and allotted to 'RIICO. 17,50,000
shares reserved for preferential allotment to NRIs with
repatriation rights. 22,27,500 shares (along with Unsubscribed
portion of the NRI quota if any) were offered at par for public
subscription during August 1982.

1983 - 19,19,686 Rights Equity shares issued at par in prop. 2:9.

1984 - The Company undertook to set up a project for the conversion of
graphite anodes to metal anodes.

1985 - The Company issued 1,25,000-15% non-convertible debentures of
Rs. 100 each as rights for working capital purposes.

- 29,121 forfeited shares reissued at par.

1986 - 10,00,000 No. of equity shares issued at par as rights to equity
shareholders (prop. 2:25) and debenture holders (prop. 4:5).

1987 - The Company received a licence for enhancement of its caustic
soda capacity to 41,250 tonnes per annum from the present 33,000
tonnes per annum, also letters of intent were received for the
manufacture of activated earth, aluminium chloride and sodium

1988 - The Company was installing balancing equipment for optimising the
operations. During the year, Government approval was received
for manufacture of monochloro acetic acid, Tri/Penta Chloro
phenol, bleaching earth, anhydrous aluminium chloride
Trichloroethylene, 2, 4-D Herbicude and Chlorinated and
Chlorosulphorated paraffins.

- 41 forfeited equity shares reissued. 16,46,168 shares issued
at par to financial institutions in conversion of loans.

1989 - During October-November, the Company offered 40,00,000 No. of
equity shares of Rs 10 each at par on 'Rights' basis in the
proportion 3:10. Additional 6,00,000 shares were allotted to
retain oversubscription.

- Another 2,00,000 shares were issued at par to the employees under
the Employees Stock Option Scheme (only 2,000 shares taken up).
The unsubscribed portion was allowed to lapse, the above issue
was made to part finance the Company's modernisation scheme
(balancing equipment) and its chlorine based projects.

1992 - The Company undertook to expand stable bleaching powder
production capacity to 60 TPD.

- With a view to maintaining its pressure in the North Zone, the
Company proposed to install DG sets of 36.7 MW capacity.

- The Company undertook modernisation of mercury cell plant of 200
TPD into Membrane cell plant and Balancing of Membrane cell plant
capacity from 60 TPD to 100 TPD.

- The Company offered 44,78,518 No. of equity shares of Rs 10 each
at a premium of Rs 20 per share along with equal number of
detachable warrants on Rights basis.

1993 - 44,68,271 No. of equity shares were allotted. Also 30,10,023 No.
of equity shares were allotted at a premium of Rs 10 per share to
those who exercised their rights to convert the warrants into

1994 - The Company increased its capacity to 250 TPD from 190 TPD.

1996 - 89,86,789 shares issued on Rights basis and on conversion of
warrants. Another 2,68,800 shares allotted to financial
institution on conversion of the warrants.


-Modi Alkalies & Chemicals Ltd has informed that at the Annual General Meeting held on December 30, 2003, the shareholders have approved delisting of its equity shares from Jaipur and Delhi Stock Exchanges.


-Modi Alkalies & Chemicals Ltd name has changed its name to Lords Chloro Alkali Ltd and the same has been approved by the Shareholders of the Company as well as Central Government w.e.f. October 01, 2003.
Oct 28, 5:50 pm
Oct 28, 5:59 pm
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