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Revathi Equipment Ltd. Company History and Annual Growth Details

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

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
2002-The Utkal Investments has acquired 40 % stake held by Atlas Copco group, in Revathi Equipments Ltd for Rs 29.95 crore.


-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.
Oct 26, 12:00 am
Oct 26, 4:14 pm
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