1973 - Milk Food Ltd. was incorporated on 31st March, at Delhi. It
manufactures milk powder, baby food, cheese and other milk
products. The company was promoted by Jagatjit Industries Ltd.
- 6 Pref. and 6 No. of equity shares subscribed for by the
signatories to the Memorandum of Association. 1,80,000 No. of
equity shares allotted to Jagatjit Indus. Ltd. for cash.
2,70,009 No. of equity shares offered at par to the public in May
1978 - During November 1975, 1,80,000 Right Equity shares issued at par
in the proportion 2:5.
1984 - The company again became a subsidiary L.P. Investments, Ltd.
which is a wholly owned subsidiary of Jagatjit Industries Ltd.,
which held 12,50,116 No. of equity shares of the company.
1987 - 568,550 bonus equity shares issued in prop. 1:1.
1991 - During January-February, the Company offered 11,37,100-14%
secured redeemable partly convertible debentures of Rs 150 each
on 'Rights basis' in the proportion 1 debenture : 1 equity share
held (all were taken up). Additional 1,70,565 debentures were
allotted to retain over subscription.
- Another 56,855-14% partly convertible debentures were issued to
employees under the 'Employees Stock Option Scheme' (none were
taken up and all were allowed to lapse).
- Rs 80 of the face value of each debenture was to be converted
into 1 equity shares of Rs 10 each at a premium of Rs 70 per
share on the expiry of 6 months from the date of allotment of
debentures. Accordingly 13,07,665 shares were allotted in
- The balance Rs 70 of the face value of each debenture were to be
redeemed at par in three annual instalments of Rs 20, Rs 25 and
Rs 25 respectively on the expiry of 7th, 8th and 9th years from
the date of allotment of debentures.
1992 - 24,41,675 bonus equity share issued in propn. 1:1.
- Milkfood Ltd has appointed Mr. Umesh N Saxena as Additional Director and Managing Director of the Company.