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Va Tech Wabag Ltd. Company History and Annual Growth Details

Our Company was incorporated as Balcke Durr Cooling Towers Limited on February 17, 1995 and was awarded the
certificate of commencement of business on March 8, 1995. It was involved in the business of design and
construction of cooling towers and was a subsidiary of Balcke-Durr Aktiengesellschaft, a German company which
was held by Deutsche Babcock. In 1996, Balcke Durr Cooling Towers Limited started a water treatment division
and pursuant to this, it changed its name to Balcke Durr and Wabag Technologies Limited by a special resolution
passed on July 29, 1996 and was issued a fresh certificate of incorporation on September 12, 1996.

In April 1999, the Austrian group VA Tech acquired the water business of Deutsche Babcock operating under the
Wabag brand name. In India, the water and non-water divisions of Balcke Durr and Wabag Technologies Limited
were demerged. The scheme of demerger was approved by the High Court of Madras pursuant to its order dated
March 3, 2000 and the non-water division of Balcke Durr and Wabag Technologies Limited was transferred to BDT
Limited. For further details, please see the section titled 'History and Certain Corporate Matters' Key Agreements/
Schemes of Arrangement - Scheme of Demerger of water and non-water division of our Company (the 'Demerger
Scheme')- on page 172. Consequently, the name of Balcke Durr and Wabag Technologies Limited was changed to
VA Tech Wabag Limited pursuant to a special resolution dated March 10, 2000. A fresh certificate of incorporation
consequent upon the name change was granted to our Company on April 4, 2000. Pursuant to the demerger and
change of name, our Company was primarily involved in the design, supply, construction and erection of water,
wastewater treatment plants and operation and maintenance of the same.

On August 25, 2006, the majority shareholding of our Company was acquired by Western India Trustee and
Executor Company Limited, in its capacity as trustee of India Advantage Funds - I and represented by the
investment manager ICICI Venture Funds Management Company Limited, along with our Promoters, Rajiv Mittal,
Amit Sengupta, Shiv Narayan Saraf and S. Varadarajan. The aforementioned acquisition was undertaken through the
acquisition of the shareholding of our Company from Wabag Austria through I-Ven Water Technologies Limited in
September 2005 and subsequent merger of I-Ven Water Technologies Limited with our Company. For further
details, please see the section titled 'History and Certain Corporate Matters - Key Agreements/ Schemes of
Arrangement - Scheme of Amalgamation of I-Ven Water Treatment Technologies Limited ('IVTL') with our
Company (the 'Scheme of Merger')' on page 172.

On December 6, 2007, our Company incorporated a joint venture company now called VA Tech Wabag (Gulf)
Contracting LLC with Badriya Hassan Makki, in which our Company holds a 49% shareholding. In terms of a
shareholders? agreement dated September 11, 2007, our Company has 100% beneficial interest in the
aforementioned joint venture company.


Major Events of our Company



Date Event

April 1997 First EPC order intake of our Company from Reliance Petroleum

March 2000 Entry into municipal segment by our Company: Receipt of first municipal order from Chennai
Metropolitan Water Supply and Sewerage Board

September 2000 Receipt of ISO 9001:2000 certification from Lloyd?s Register Quality Assurance

July 2002 Starting of O&M activity and receipt of first O&M order by our Company from Chennai Metropolitan
Water Supply and Sewerage Board (Redhills plant)

September 2002 Receipt of an order worth approximately Rs. 7,000 lakhs from Bangalore Water Supply and Sewerage
Board

March 2003 Crossing of Rs. 10,000 lakhs turnover by our Company

September 2004 Receipt of best construction award from Indian Concrete Institute - Karnataka for construction of
sewage treatment plant at Mailasandra for Bangalore Water Supply and Sewerage Board

September 2005 I-Ven Water Treatment Technologies Limited acquired a majority stake in our Company

April 2006 Scheme of Merger of I-Ven Water Treatment Technologies Limited with our Company

August 2006 Adoption of the ESOP Scheme 2006 by our Company

August 2006 Acquisition of majority shareholding in our Company by Rajiv Mittal, Amit Sengupta, Shiv Narayan
Saraf and S. Varadarajan together with ICICI Venture Funds Management Company Limited

September 2006 Receipt of an order worth approximately Rs. 18,638 lakhs from Kerala Water Authority

March 2007 Crossing of Rs. 20,000 lakhs turnover by our Company

March 2007 Allotment of 3,97,078 equity shares of Rs. 10 each to GLG Emerging Markets Fund, Cayman Islands

April 2007 Creation of four SBUs - municipal, industrial, international and operations business group

July 2007 Company?s Order Book crosses Rs. 50,000 lakhs

August 2007 Incorporation of Wabag Singapore

September 2007 Receipt of first overseas O&M order by our Company from Qatar

November 2007 Acquisition of Wabag Austria and subsidiaries by our Company

December 2007 Incorporation of VA Tech Wabag (Gulf) General Trading LLC, Dubai

January 2008 Allotment of 48,198 Equity Shares of Rs. 10 each to Government of Singapore Investment Corporation
Pte Ltd, Singapore, 72,296 Equity Shares of Rs. 10 each to Passport India Investments (Mauritius )
Ltd., Mauritius and 24,099 Equity Shares of Rs. 10 each to Sattva India Opportunities Company Ltd.,
Mauritius

February 2008 Incorporation of Wabag Water Services s.r.l, Romania

March 2008 Crossing of Rs. 30,000 lakhs turnover by our Company

March 2008 Company?s Order Book crosses 1,00,000 lakhs

March 2008 Receipt of first overseas EPC order by our Company from Oman

May 2008 Starting of International Engineering Centre in Pune

May 2008 Opening of a branch office in Oman

June 2008 Receipt of approximately Rs. 19,071 lakhs order from Delhi Jal Board

December 2008 Amendment of Memorandum of Association of VA Tech (Gulf) General Trading LLC and change of
name to VA Tech Wabag (Gulf) Contracting LLC, Dubai

March 2009 Crossing of Rs. 50,000 lakhs turnover by our Company

March 2009 Go Live of ERP by our Company

May 2009 Receipt of ISO-9001:2008 certification from Bureau Veritas

May 2009 Incorporation of VA Tech Wabag (Hong Kong) Limited

December 2009 Receipt of Rs. 1,03,368 lakhs order for sea water desalination plant from Chennai Metropolitan Water
Supply and Sewerage Board

December 2009 Incorporation of Beijing VA Tech Wabag Water Treatment Technology Co., Ltd.

March 2010 Crossing of Rs. 70,000 lakhs turnover by our Company
 
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