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Piccadily Sugar and Allied Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1993 - The company was incorporated as Public limited company on 15th
March. It was promoted by Punjab State Industrial Development
Corporation (PSIDC). The Company manufacture white crystal
sugar.

- The letter of intent was issued by Ministry of Industry, Govt. of
India in favour of Punjab State Federation of Co-operative Sugar
Mills Ltd. to be implemented by Patran Co-Operative Sugar Mills
Ltd., Patran.

- Due to the change in the economic scenario, the Patran Sugar
factory was transferred by the Punjab Govt. to PSID with
Piccadily sugar and Allied Industry Ltd. to set up the Sugar Mill
in assisted sector with minority participation to the extent of
15% by the PSIDC.

- The Sugar factory was set up with an installed capacity of 2500
TCD extendable to 3500 TCD with co-generation of power to the
extent of 6 MW.

- The company issued 17% Partly convertible debentures of Rs 20
crores to Financial Institutions and Mutual Funds on preferential
basis.

- Part 'A' of PCD of Rs 10 each will be converted into 1 equity
shares after the expiry of 17 months from the date of allotment.

- Part 'B' of the PCD of Rs 10 each i.e. non-convertible part will
be redeemed after the expiry of 17 months from the date of
allotment.

1994 - 55,09,000 shares were allotted to promoters, their friends and
relatives. 33,00,000 shares were issued to PSICD. 1,32,00,000
shares were issued through prospectus of which:

- (i) 80,000 shares were offered on a preferential basis to the
employees of the promoting company,

- (ii) 31,50,000 shares were offered on preferential basis to NRIs
and the balance 99,70,000 shares to the public.

- The Company entered into an agreement on 14/10/93 with The
Triveni Engg. Works Ltd. for supply of complete machinery and
equipment on turnkey basis.

1995 - 25,00,000 No. of Equity shares of Rs 10 each issued on conversion
of part - A of PCDs.

- The Company uses Bagasse (a by-product) as fuel in common boilers
for generation of steam both for generation of power through
steam power turbine and for use in processing of sugar in boiling
house.

1996 & 97 - No news found.

1998 - Production was adversely affected due to floods, late rains, fog
and bad weather.

- The Company issued 17% Partly Convertible debentures of Rs 20
crores to Financial Institutions and Mutual Funds on preferential
basis.

- Part 'A' of PCD of Rs 10 each will be converted into 1 equity
share after the expiry of 17 months from the date of allotment.

- Part 'B of the PCD of Rs 10 each i.e. non-convertible part will
be redeemed after the expiry of 17 months from the date of
allotment.

1999 & 2000 - No news found.


2010

- Piccadily Sugar & Allied Industries Ltd has appointed Sh. N. P. Gupta as Special Director on the Board of Directors of the Company.
 
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