1985 - The Company was incorporated on 9th January, at Indore (M.P.) and
obtained the certificate of commencement of Business on 4th
October. It was promoted jointly by A.C. Patel of M/s. Viscus
Santosh Kumar Sahara (promoters of Ruchi Soya Industries Ltd.)
- The Company manufactures galvanised plain and galvanised
corrugated sheets/coild of lighter guage.
- The Company undertook to set up a project for manufacture of
galvanised plate and galvanised corrugated sheets/coils of higher
gauge - 0.18 mm to 0.5 mm with an installed capacity of 40,000
- The Company entered into an agreement with Cockenill Mechnical
Industries, for training of technical personnel, supervise
erection of machinery, manage start up operations etc.
1995 - 7 No. of equity shares of Rs. 10 each subscribed for by
signatories to the Memorandum of Association. 61,79,993 No. of
equity shares of Rs. 10 each were issued at par in February 1987
of which the following were reserved and allotted in a firm
- (i) 6,18,000 shares to MPAVN.
- (ii) 14,09,993 shares to private sector promoters.
- (iii) 13,52,000 shares to NRI promoters.
- Of the remaining, the following were reserved for allotment on a
- (i) 11,20,000 shares to NRSS on repatriation basis.
- (ii) 3,09,000 No. of equity shares to employees of the Company
and associate companies and MPAVN (only 1,700 shares taken up).
- (iii) 56,000 shares to business associates of the Company.
- Balance 13,15,000 shares along with 307,300 shares not taken up
by employees issued to the public. Additional 700,000 shares
allotted to retain oversubscription.
- 34,40,000 rights equity shares issued in prop. 1:2 in December
1988, totally 39,56,000 shares allotted (of these 15,26,800
shares otherwise allotted) Another 1,72,000 shares issued to
employees on an equitable basis.
- 1,00,000 No. of equity shares allotted to MPAVN on preferential
basis 216,72,000 rights shares issued in October 1992 (prem. Rs.
20; prop. 1:1). Of these 5,058 remained unissued.
-The company's shares will be delisted from Delhi & MP Stock Exchanges.