Home  »  Company  »  Panasonic Energy India Company Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Panasonic Energy India Company Ltd. Company History and Annual Growth Details

YEAR EVENTS
1972 - The company was incorporated on 24th May, at Vadodara. The
company was promoted by Shri D.D. Lakhanpal and Matsushita
Electric Industrial Co. Ltd. Japan.

- D.D. Lakhanpal entered into a joint venture agreement (technical
and financial) with Matsushita Electric Industrial Co. Ltd.,
Japan.

1973 - 1,66,666 shares taken up by promoters, directors, etc., and
2,50,000 shares allotted to Matsushita Electric Industrial Co.
Ltd., Japan without payment in cash. 2,08,334 shares offered at
par to the public in January 1973.

1979 - 825 shares forfeited in 1979 and were reissued to employees at
par.

1981 - 5,00,000 Right Equity shares issued at par in prop. 4:5.

1986 - The Company received a letter of intent for the manufacture of
2,200 lakh pieces of dry batteries per annum with zinc chloride
technology.

1987 - The Company proposed to introduce UM3 type (pencil batteries and
later UM1 type (standard type) batteries with the new technology.

- 11,25,000 bonus equity shares issued in prop. 1:1.

1989 - UM 3D (NOVINO GOLD) batteries were introduced.

- The company offered 22,50,000 No. of equity shares of Rs 10 each
for cash at par on 'Rights basis' in the proportion 1:1 (all were
taken up).

- Another 1,12,500 No. of equity shares were issued to employees.
(only 42,750 shares taken up). In addition, 28,500 No. of
equity shares were allotted to the Company's collaborators
Matsushita Electric Industrial Co. Ltd., to maintain their equity
participation at the existing level of 40%.

1990 - The unsubscribed portion of 69,750 No. of equity shares out of
the employees quota were allotted at par to the employees. On
account of this, another 46,500 No. of equity share were allotted
at part to the collaborators Matsushita Electric Industrial Co.
Ltd., Japan to maintain their shareholding in the Company at 40%.

1991 - The Company proposed to expand the existing production capacity
by establishing new plant and machinery to manufacture Hi-tech
Eco-Friendly, Mercury free, UM-3 (R-6) Type of Metal Jacketed
Penlite Dry cell batteries.

1994 - During the year, superior quality NOVINO SUMO-UM-IS (R-20)
batteries and PANASONIC Alkaline batteries were introduced.

- The Company introduced superior quality and cost effective Novino
Sumo-UM-2S (R-^) Penlite type of dry cell battery with Zinc
chloride technology. The company also introduced 'Panasonic'
brand Alkaline batteries.

- The company offered 8,43,750 No. of equity shares of Rs 10 each
at a premium of Rs 33 per share in 'Rights basis' in the
proportion of 3:10 (all were taken up). Simultaneously another
19,50,000 shares offered to collaborators Matsushita Electric
Industrial Co. Ltd. Japan (All were taken up). Another 18,750
shares offered to Indian promoter (All were taken up).

1995 - The Company started implementation of ambitious gas lighter
project.

1996 - The Company introduced New Novino UM-IPN (R-20) type of dry cell
battery in paper jacket section.

2008

- Company name has been changed from Panasonic Battery India Co.Ltd. to Panasonic Energy India Company Ltd.
 
Subscribe now to get personal finance updates in your inbox!