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Videocon Industries Ltd. Company History and Annual Growth Details

Videocon Leasing & Industrial Finance Limited, was
incorporated on 4th September, 1986 as Adhigam Trading
Private Limited. In terms of the necessary resolutions
passed under Sec. 21 of the Companies Act, 1956, the name
of the Company was changed to Videocon Leasing & Industrial
Finance Limited on 14th February, 1991. The Company
received a fresh certificate of incorporation from the
Registrar of Companies, Gujarat at Ahmedabad on 14th
February, 1991.

Adhigam Trading Pvt. Ltd. (ATPL) was promoted by Mr
Indrakant T. Parikh and Naishad I. Parikh in September,
1986 as a private limited company and was initially engaged
in the business of trading in paper tubes. In September,
1988 the Company decided to diversify in the business of
lease financing, hire purchase and investment activities.

The Management of the Company underwent a change in the
year 1990-91 by way of transfer of equity shares to the
Videocon Group. 1,00,000 Equity Shares of Rs. 10/- each of
Adhigam Trading Private Limited were purchased by the
Videocon Group at a premium of Rs. 3/- per share in April,
1991. The total consideration of Rs. 13 Lakhs was paid by
cheques.

THE COMPANY & THE VIDEOCON GROUP

As detailed earlier, during the initial years the Companies
in the Videocon Group had placed business with VLIF leading
to growth in its lease financing activities. The group
companies have increased the fund base of the Company by
infusing funds in form of share capital and unsecured
loans. As detailed in the Capital Structure, the promoters
currently hold 75% of the paid up capital of the Company.
The composition of promoters holding is Videocon
International Limited 14,90,000 Shares (13.1% of VLIF's
Capital), Videocon Appliances Limited 12,500 Shares (0.1%
of VLIF's Capital), the Dhoot Family and their friends &
associates 70,10,000 Shares (61.8% of VLIF's Capital). As
detailed earlier, the post issue holding would be of the
order of 25.50% of the post issue capital of Rs. 33.375
Crores (assuming that all the OCDs are converted @ Rs.
150/- per Share and Equity Shares are issued against all
the outstanding warrants).


2005

-Videocon acquires entire stake of Electrolux India on July 07, 2005

-ideocon Industries Ltd has informed that the Company has completed placement of 94,10,145 Global Depository Receipts (GDRs) at the price of US$ 10 per GDR, aggregating to US$ 94.10 million on Private Placement Basis to AB Electrolux (Publ). Each GDR represents one underlying equity share of the Company.

-Videocon takes over Hyundai Electronics

-Videocon wins exploration rights for Nigeria oil block

2006

-Videocon Industries enters into MoU with GAIL

-Videocon Industries launches new range of washing machines

-Videocon signs pact with Oilex for NELP block bids

2007

- Videocon Industries has bought Planet M, the music and entertainment retail arm of media house Bennett, Coleman & Co, for Rs 200 crore.

-Videocon to set up semiconductor, LCD complex near Mumbai

-BPCL arm, Videocon in agreement to acquire stake in Brazilian oil firm

2008

-Videocon set to roll out telecom service in India

-Videocon mulls major global retail entry under 'VC' brand

2009

-Videocon Industries signed a Letter of Intent with Finnish contract manufacturing firm Elcoteq aiming at buying stake in the foreign firm where the Company makes gadgets like mobile phones and set-top boxes for companies like Sony Ericsson, Philips and Cisco.

2010

- A Rs.1,600-crore plant for colour television sets and other electronic consumer durables will be set up by Videocon at Manamadurai in Sivaganga district.
 
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