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Revathi Equipment Ltd. Company History and Annual Growth Details

YEAR EVENTS
1977 - The company was incorporated in the year 1977. The object of the
company is to manufacture water well detailed and spares and
accessories thereof and allied products etc. It was promoted by
RMT Drill Private, Ltd.

1980 - 200 No. of equity shares subscribed for by the signatories to the
Memorandum. 5,120 Pref. and 1,59,800 No. of equity shares
allotted without payment in cash to RMT Drill Pvt. Ltd.
(promoters). In April 1978, 14,880 Pref. and 4,40,000 No. of
equity shares issued: 2,40,000 No. of equity shares reserved for
allotment to Chicago Pneumatic Tool Co. New York, USA and balance
offered for public subscription. Pref. shares redeemable after
12 years but before 15 years from the date of allotment.

1983 - In order to expand the product-range, the Company took up
development of lighter water well drills.

1985 - The Company privately placed with UTI, 15% non-convertible
debentures for a total value of Rs 75,00,000 to meet the working
capital requirements.

1986 - In March 1986, 2,10,000 No. of equity shares offered at a prem.
of Rs 10 per share of which 2,00,000 shares offered to the equity
shareholders as rights in pro. 1:3 (all were taken up) and the
balance of 10,000 shares offered to the employees of the company
under Stock Option Scheme (only 2,450 shares taken up). The
unsubscribed 7,550 shares of the employees' quota allowed to
lapse.

1987 - 8,02,450 bonus shares issued in prop. 1:1 during December 1987.

1990 - In order to meet the increased demand for drilling rig, the
Company undertook an expansion of production and other
facilities. This was commissioned during the first week of April
1992.

2002

-The Utkal Investments has acquired 40 % stake held by Atlas Copco group, in Revathi Equipments Ltd for Rs 29.95 crore.


2004

-The Coimbatore-based Revathi Equipment Ltd has invested in a windmill project in Rajasthan and entered into a long-term power purchase agreement (PPA) with the Rajasthan State Electricity Board for the sale of wind energy.

2005

-The company has entered into an agreement with Bucyrus International Inc., USA for manufacturing and selling drilling rigs.

2006

-Revathi Equipment Ltd has informed that the Company has acquired 26% in the equity capital of Monarch Catalyst Pvt Ltd, Mumbai, which is engaged in the manufacture of process technology catalyst, for a consider of Rs 62.40 million.

-The Company has recommended a dividend of Rs 10/- per share.

2007

-Revathi Equipment Ltd has informed that the Company has acquired 40% stake in the equity share capital of M/s. Potential Service Consultants Pvt Ltd, Bangalore, a Company providing Engineering design solutions in the field of construction industry.

-The Company has recommended a dividend of Rs.10/- per share.

2008

-The Company has recommended dividend of Rs 10/- per share.

-The Company has acquired 70% in the equity capital of Semac Pvt Ltd, Bangalore, a Company providing Engineering design solutions for industrial / commercial and infrastructure constructions.

2009

-Revathi Equipment Ltd has informed BSE that the Company has additionally acquired 11% in the equity capital of Potential Service Consultants Pvt. Ltd., Bangalore, a Company providing Engineering design solutions in the field of construction industry.

2010

-REL commission new manufacturing facility.

-The Company has acquired 20% in the equity capital of Satellier Holdings Inc, USA.

2012

-Mr. S Hariharan has been appointed as Whole-time Director of the Company.

2014

-Revathi Equipment Ltd Mr.M.Poongavanam and Mr.Kishore Sidhwani as been appointed as independent directors of the company.

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