YEAR EVENTS 1988 - The Company was incorporated on 8th March and it was promoted by the videocon group companies, manufacturers of electronic items, TVs, hi-tech audio equipment etc. The Company manufactures programmable washing machines. - It undertook to set up a project for the manufacture of two models of washing machines the fully automatic (single tub) and the semi automatic (twin tub) with a capacity of 5,00,000 per annum. - The company was proposed to import other items of machinery such as Ultrasonic welding machinery and profile projector, moulds for single tub/twin tub from Japan. - The Company entered into a technical collaboration agreements with Matsushita Electric Industrial Co. Ltd. Owners of brand names national and manufacturer of a vide range of electronic and durable consumer products such as TVs, VCRs etc. - The collaborators were to provide the entire know-how for manufacturing programmable washing machines and also train the Company's employees in the manufacturing process. - The company undertook to manufacture and market air-conditioners, refrigerators, vaccum cleaners and a whole range of home appliances. - 70 No. of equity shares of Rs 10 each subscribed for by signatories to the Memorandum of Association. 64,99,930 No. of equity shares then issued at par of which 29,99,930 No. of equity shares were reserved and allotted on a firm basis to resident Indian directors, their friends, etc. and Videocon International Ltd. (VIL). - Of the balance 35,00,000 No. of equity shares, the following were reserved for allotment on a preferential basis: - (i) 3,25,000 shares to employees/workers of the Company and promoter companies (all were taken up). - (ii) 6,50,000 shares to shareholders of VIL (all were taken up) and - (iii) 3,00,000 shares to UTI (all were taken up). - The remaining 22,25,000 shares were issued for public subscription during January 1989. Additional 9,75,000 shares were allotted to retain oversubscription (4,50,000 shares to promoters 48,750 shares to employees; 45,000 share to UTI: 97,500 shares to shareholders of VIL and 3,33,750 shares to the public). 1991 - The Company issued 18,75,000-12.5% secured fully convertible debentures of Rs 200 each on Rights basis in the proportion 25 debs: 100 No. of equity shares held (all were taken up). Additional 2,81,250 debentures were allotted to retain oversubscription. - The Company issued through a Prospectus 4,00,000-12.5% debentures of Rs 200 each to shareholders of Group companies viz. Videocon International Ltd. and Videocon VCR Ltd. (all were taken up). Additional 60,000 debentures were allotted to retain oversubscribed and 2,25,000 debentures were issued to the employees' on an equitable basis (all were taken up). - Balance 20,00,000 debs. were issued to the public (all were taken up). Additional 3,33,750 debentures were allotted to retain oversubscription. - Part I of Rs 50 was converted into one equity shares of Rs 10 each at a premium of Rs 40 per share on the expiry of 6 months from the date of allotment of debentures. Accordingly 51,75,000 No. of equity shares were allotted. - Part II of Rs 150 was converted into 3 equity shares of Rs 10 each at a premium of Rs 40 per share on 25th June, 1993. Accordingly 155,25,000 shares were allotted. 2002- Consumer electronics major Videocon has firmed up an plans to set up a manufacturing base at Sharjah in the United Arab Emirates.The group is planning to invest up Rs 300 crore in the project to manufacture colour televisions, refrigerators, washing machines and air-conditioners. 2008 -Videocon Appliances Ltd has informed that with regards to the members of the Board of Director of the Company have accorded approval to change of name of the Company from "Videocon Appliances Ltd" to "Value Industries Ltd". 2009 -Company has recommended dividend of Re 0.50 (Paise Fifty Only) per share for the financial year ended September 30, 2008 2010 -Company has recommended dividend of Re. 1/- (Rupee One Only) per share for the financial year ended September 30, 2009. 2011 -Value Industries Ltd has Recommended dividend of Re 1/- (Rupee One Only) per share. |
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