Home  »  Company  »  Nahar Industrial Enterprises Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Nahar Industrial Enterprises Ltd. Company History and Annual Growth Details

YEAR EVENTS
1983 - The company was incorporated on 27th September 1983 at New Delhi.
The main object of the company is to manufacture rice bran oil,
fatty steric acid, distilled gycerine & pitch, oxygen gas and
toilet soaps. The company was promoted by Oswal Wollen Mills Ltd
the flagship company of Oswal Group of industries.

- The Company installed a fatty acid plant at Jalaldiwal near
Raikot in Sangrur district of Punjab with an installed capacity
of 30 tonnes per day which was commissioned in the month of
February 1985.

1987 - An industrial oxygen gas plant and a solvent extraction plant
were set up at Raikot in Sangrur district of Punjab.

1988 - The Company undertook a project to expand the capacity of its
fatty acid plant from 30 tonnes per day to 100 tonnes per day and
to set up a toilet soap plant with an installed capacity of 50
tonnes per day. The entire project was commissioned by the end
of January 1989.

- The Company proposed to issue 16,00,000 bonus equity shares in
the proportion 2:5.

1989 - During February, the Company made a public issue of 6,00,000-14%
secured fully convertible debentures of Rs 120 each of which
30,000 debentures were reserved for preferential allotment to
employees/workers of the Company with an option to offer the
unsubscribed portion to the public. The employees took up 14,300
debentures and the remaining 5,85,700 debentures were allotted to
the public.

- Part A of each debenture of the face value of Rs 50 was
automatically and compulsorily converted into 2 equity shares of
Rs 10 each at a premium of Rs 15 per share simultaneously with
the allotment of debentures.

- Part B of each debenture of the face value of Rs 70 was converted
automatically and compulsorily into 2 equity shares of Rs 10 each
at a premium of Rs 25 per share at the end of 12 months from the
date of allotment.

- Accordingly, the Company issued 12,00,000 No. of equity shares
of Rs 10 each on 28th March, 1989 and another 12,00,000 shares on
27th March, 1990.

1991 - The Company proposed to set up a writing and printing paper
manufacturing unit with annual capacity of 29,120 tonnes and
vanaspati manufacturing unit with annual capacity of 19,800
tonnes at village Shahi, Pilibhit district of U.P.

- To part finance the company made a rights cum public issue,
comprising 40,00,000 No. of equity shares at premium of Rs 90 per
share on rights basis and 47,50,000 No. of equity shares at a
premium of Rs 110 per share through public issue.

1992 - 15,99,360 bonus shares issued in prop. 2:5.

1993 - During February, the Company issued 40,00,000 No. of equity
shares of Rs 10 each at a premium of Rs 90 per share in the
proportion of 1:1. All were taken up. Allotment of 15,200
shares was kept in abeyance.

- The Company issued 47,50,000 No. of equity shares of Rs 10 each
at a premium of Rs 110 per share through prospectus. Out of
which the following shares were reserved for allotment:
(i) 7,92,500 shares to NRIs (only 3,31,700 shares taken up),
(ii) 4,57,500 shares to Indian Mutual Funds (only 4,50,000 shares
taken up), (iii) 1,40,000 shares to employees on a preferential
basis (none were taken up). The remaining 33,60,000 shares,
along with 6,08,300 shares not taken by NRIs, Mutual Funds and
employees were offered to the public. All were taken up.

- With the public issue, the Company also issued 7,50,000-17.5%
secured redeemable non-convertible debentures of Rs 100 each with
detachable warrants to promoters and their associates on private
placement basis. These debentures are redeemable in three
instalments of Rs 35, Rs 35 and Rs 30 at the expiry of 6th, 7th
and 8th years from the date of allotment of debentures.

- 87,34,800 shares issued.

1994 - With effect from 21st October, the name of the Company was
changed from 'Oswal Fats & Oils Ltd', to 'Nahar Industrial
Enterprises Ltd.

1995 - The Company had set up a 100% EOU spinning unit with a capacity
of 25,000 spindles at village Jalalpur, Lalru, Punjab.

- The Company had set up a 100% EOU spinning unit with a capacity
of 25,000 spindles at Mundian Kalan, Ludhiana.

- 15,01,900 No. of equity shares issued against warrants.

1996 - Company's spinning unit at Mundian Kalan at Ludhiana was under
implementation.

1997 - Nahar Fabrics Ltd., was amalgamated with the Company with effect
from 1st October. Accordingly, 29,33,280 No. of equity shares of
Rs 10 each were issued to the shareholders of erstwhile Nahar
Fabrics Ltd. 7,100 No. of equity shares kept in abeyance issued.

2004

- Delists equity shares Delhi Stock Exchange (DSE) with effect from September 2, 2004
 
Subscribe now to get personal finance updates in your inbox!