1979 - The Company was incorporated as a private limited company on
7th June. The company became a public limited company on
21st October, 1994, with an installed capacity of 20 million
pieces of fastners and the capacity was increased to 165 million
pieces. It was promoted by M.L. Aggarwal.
- The Company undertook to expand its production range from 16mm
draneter fastners to 24 mm draneter fastners. The Capacity was
increased to 230 million pieces from the existing 165 million
pieces. In terms of tonnage, installed capacity would be
increased to 7000 tonnes from 3200 tonnes.
- The Company's object is to manufacture of high tensile fasterners
for automobiles and other industrial applications.
1993 - The Company has imported machinery to under EPCG scheme and
hence has an obligation export goods worth US $ 560,000 during
the period October 1993 to October 1998.
1995 - 24,00,000 No. of equity shares of Rs 10 each issued, subscribed &
paid up. Of these 23,80,000 No. of equity shares were issued on
bonus shares in prop. 19:1. 10,20,000 No. of equity shares of Rs
10 each were issued at a prem. of Rs 65 per share during April as
follows: of these 1,50,000 shares were offered at a prem. of Rs
80 per share to Mutual Funds on a firm basis. Of the balance
15,000 shares were issued at a prem. of Rs 65 per share to
employees on an equitable basis. Remaining 8,55,000 shares were
issued at a prem. of Rs 65 per share to the public.
2000 - The Company has promoted a new B2B (business-to-business) portal
for automotive spare parts called 'sparesindia.com'.
2001 - Sparesindia, promoted by Sterling Tools Ltd., will enter the business of helping auto
component makers Web-enable their distribution and sales setups.
2003-Delisting the equity shares from Delhi Stock Exchange.