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RSWM Ltd. Company History and Annual Growth Details

YEAR EVENTS
1960 - The Company was incorporated on 17th October, at Calcutta. The
main objective of the company is to manufacture cotton yarn and
cloth, staple and viscose yarn and polyester blended yarn.

1961 - Issued 45,000 No. of equity shares to directors, etc. and 4,000
Pref. and 20,000 No. of equity shares to Rajasthan Govt. 20,000
Pref. and 1,75,000 No. of equity shares offered to public to
October.

1970 - Issued 1,31,449 Bonus equity shares in the prop. 3:10.

1973 - 3,06,716 bonus equity shares issued in the prop. 7:13.

1976 - 2,20,000 No. of equity shares allotted at par to financial
institutions on conversion of loans. 10,96,430 bonus equity
shares were then issued in the prop. 1:1.

1978 - 6,000-9% Pref. shares redeemed. 30,000-11% Pref. shares issued
to GIC and its subsidiaries. 11% Pref. shares redeemable during
1.7.1991/94.

1980 - The company received a letter of intent for the manufacture of
polyester sewing thread with an annual capacity of 120 tonnes.
Collaboration agreement was entered into with Zwicky & Co.,
Switzerland.

- 92,500 equity shares allotted at par to financial institutions
on conversion of loans.

1981 - 7,62,398 bonus equity shares issued in prop. 1:3.

1986 - The Company received registration for a sponge iron project.
Letters of intent were received for the setting up of;

- (i) a 12,000 spindles worsted spinning project and

- (ii) process house for processing 240 lakh metres of suitings,
shirtings, sarees and dress material.

1987 - The labour trouble of July/September settled down.

- The company undertook another modernisation programme the
machinery installed including the latest autoconers with splicing
and electronic yarn cleaning arrangements and two for one
twisters along with latest carding machines.

1990 - 6,912 spindles were added in the Banswara Unit.

1991 - 30,49,593 bonus shares issues in the prop. 1:1.

1992 - The company undertook expansion of spindles of polyester viscose
yarn at Banswara to increase its installations of P/v spindles
from 18,576 to 27,792 nos. Also another project for manufacture
of P/c yarn was undertaken at Banswara by installing 9,216
spindles.

- The Company undertook to install 9,216 spindles at Bhilwara for
manufacture of milange yarn.

- Memorandum of Understanding was signed with the Madhya Pradesh
Government for beneficiation of 2000 TPD of rock phosphate
integrating it to manufacture of single phosphoric acid, super
phosphate and di-ammonium phosphate.

- The Company has entered into a Memorandum of understanding with
RIICO for putting up a Granite Processing Plant in Rajasthan and
has taken four mining leases for granite.

1993 - The company had signed two MOUs with Himachal Pradesh Government
for implementing the 86 MW Malana and 180 MW Allain Duhangan
projects located in district Kullu in H.P. The project is
proposed to be set up as a division of the company.

- Bhilwara Melba De Witte Ltd is a joint venture between the
company and its Australian and Belgian partners.

1994 - 10,368 spindles on polyester blended yarn were installed and
commissioned at Kharigram unit. Later Rieters from Switzerland,
Autoconers from Schlaforst (Germany) and Two-for-One Twister
from S. Korea were installed. Also 24 Sulzer weaving looms were
installed.

- The company installed singeing machine from Parex, UK, KD Suprema
from Biella (Italy), Contifit from Menschner (Germany) and
obtained dyeing technology from S. Korea for manufacture of
'Mayur' fabrics which matches world best processed fabric.

- The major work was undertaken for setting up a project for
manufacture of polyester staple fibre to produce 80,000 TPA.

- The company along with its group company HEG Ltd. and in
partnership with a US based Cellular company is to promote
'Bhilwara Cellular Ltd.'

- The company along with RSW International, Montreal, Canada
promoted (on a 50:50 basis), a consultancy company with an
initial equity share capital of Rs. 63 lakhs.

- 60,09,186 bonus shares issued in prop. 1:1. 20,67,875 equity
shares allotted at a prem. of Rs. 145 per share to promoters;
directors etc. on preferential basis. 20,67,835 bonus equity
shares allotted. Prop. 1:1 as above pref. issue. 35,50,000
equity shares allotted in private placement basis to financial
Institutions & Mutual Fund.

- The Company has also signed a MOU with M/s. Hydro Quebec
International, Canada for implmentation of these projects.

1995 - The company has entered into negotiations with Dominion Textile
Inc., Canada, for 51:49 partnership for setting up an integrated
24 mn. mtrs. per annum high value added Denim manufacturing
facility in Madhya Pradesh.

1996 - The overall performance of the company improved due to higher
volume of sales, better product-mix and improvement in
techno-economic parameters despite continuous fluctuation in yarn
prices owing to fall in polyester staple fibre.

- The company was planning to complete expansion plans by adding
9,360 spindles at Melange unit for manufacturing fancy dyed
cotton yarn and 8 Airjet looms at Gulabpura to take care of
increased requirement of fabric exports. The company also plans
to add some two-for-one twisters at Banswara unit to increase the
doubling capacity.

- The Company's strategy of high value added product
diversification, it has entered into a 50:50 Joint Venture tie-up
with Australia's leading manufacturer of Automotive Furnishing
fabrics - CALUM AUSTRALIA PTY. LTD., to manufacture their
product range in India, with a capacity of 1.8 million. mtrs. per
annum.

1997 - It was also proposed to install 16 airjet looms at Gulabpura
besides modernisation of spinning division. It was also proposed
to implement a balancing scheme and further expansion of
polyester cotton spinning at Banswara.

- The company set up a separate power division and the power
division was to set up two power plants of capacity 4.2 MW each
at Gulabpura and Banswara. These power plants are to be
commissioned by May 1993.

- Subject to necessary approvals being obtained the company
proposed to amalgamate Bhilwara spinners Ltd. with itself.

- The Compny has entered into joint venture agreement with
$110-million Calum Australia Pvt. Ltd. and $125-million De Witte
Lietaer of Belgium for manufacture of automotive furnishing
fabrics.

1998 - Malana Power Company Limited the wholly owned subsidiary of the
Company proposes to wheel the power from Himachal Pradesh to
Rajasthan for captive consumption by the LNJ Bhilwara Group
Companies.

2000 - The Company has signed separate agreements with NSDL and CDSL to
facilitate all types of investors to hold and trade in the
company's equity shares in dematerialised (electronic) mode.

2003

-Rajasthan Spg. & Wvg. Mills Ltd. has informed that on request of the company for voluntary delisting of its equity shares, the company has received communication from The Delhi Stock Exchange Association Limited (DSE) that the equity shares of the company have been delisted from the stock exchange (DSE) w.e.f. December 29, 2003.

2004

-Rajasthan Spg foray into readymade garments
 
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