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Pudumjee Pulp & Paper Mills Ltd. Company History and Annual Growth Details

1964 - The company was incorporated on 19th November, at Mumbai. The
company was promoted by Pudumjee Paper Mills Pvt. Ltd. With
effect from 1st April 1965, Pudumjee Paper Mills Pvt. Ltd., was
merged with the company.

- The main objective of the company is to manufacture of all
varieties of paper, paper boards, paper products and cellulose

- The company subsequently entered into a technical collaboration
agreement with Alberto Marsoni and Cartiera F.A. Marsoni, Italy
for the manufacture of greaseproof and glassine papers.
Commercial production of paper was started in January 1968.

1965 - 6,200 shares issued to directors, etc. 18,500 shares allotted
without payment in cash to members of Pudumjee Paper Mills Pvt.
Ltd. on its merger.

1966 - 25,300 No. of equity shares taken up by directors etc. 30,000
Pref. and 50,000 No. of equity shares offered to the public on

1972 - Equity shares of Rs. 10 each subdivided into shares of Rs. 10

1975 - 5,00,000 No. of equity shares issued in the proportion 1:2.

1978 - 7,50,000 Bonus shares issued in Prop. 1:2 Pref. shares redeemed
on 1.3.1979.

1982 - The company issued 1,50,000 - 13.5% secured partly convertible
debentures of Rs. 100 each as rights in the proportion of 1
debenture: 15 equity shares during June. 25% of the face value
of each debenture was converted into 2 equity shares of Rs. 10
each at a premium of Rs. 2.50 per share on 31st December, 1983.
The balance of the face value will be redeemed between the 8th
and 10th years from the date of allotment i.e., 28th December.

- 4,50,000 Bonus Equity shares issued in prop. 1:5.

1983 - 3,75,000 No. of equity shares issued at par to the
debentureholders on part conversion of debentures.

1984 - The company entered into a collaboration agreement with a firm
in West Germany to manufacture xerox papers, papers for computer
stationery and other superior grades of paper.

1987 - Profits were reduced due to higher provisions for depreciation
and intrest payments. With improvement in paper market since the
last quarter of 1988.

1988 - The company was able to earn substantially larger profits.

- The 18% debentures are redeemable in three equal yearly
instalments commencing from 25th February, with a premium of 5%
payable with the second instalment.

1991 - The company issued 19% and 18% non-convertible debentures
aggregating Rs. 300 lakhs to LIC Mutual Fund and ANZ Grindlays
Bank Plc., on private placement basis.

1993 - During January, the company issued 10,25,000 No. of equity shares
of Rs. 10 each at a premium of Rs. 190 per share as follows:

- (i) 1,02,500 shares to NRIs on repatriation basis,

- (ii) 1,02,500 shares to employees (only 2,150 shares were taken

- (iii) 7,68,750 shares along with unsubscribed portion of 49,100
shares of employees' quota were added to the public (all were
taken up).

1994 - The normal production could not be achieved at the new plup mill
and prices of imported pulp were high and continued to increase.

1995 - As a part of diversification, the company proposed to instal a
plant for cogeneration of steam and electricity as also for
generating electricity by wind power. Also proposed to enter the
business of leasing and hire purchase.

- 41,00,000 Bonus equity shares allotted in the ratio of 1:1.

1996 - The company purchased a paper making machine from Germany for
manufacturing high quality soft tissues with an installed
capacity of 25,000 tonnes per year.

1999 - The 19% debentures are redeemable on 16th February, together with
a redemption premium of 5%.

- Pudumjee Investment and Finance Co. Ltd., is a wholly owned
subsidiary of the company.


- The company has splits its face value from Rs10/- to Rs 2/-.

- Pudumjee Pulp & Paper Mills Ltd has informed that Mr. Bhupen Dalal has been appointed ad Director on the Board of the Company.