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Visa Steel Ltd. Company History and Annual Growth Details

Our Company was incorporated on September 10, 1996 as 'VISA
INDUSTRIES LIMITED', having company registration number
15-04601 and our Registered Office at the time of our incorporation
was at Plot No. 1143/1146, Airport Road, Bhubaneswar - 751 009,
Orissa. With effect from October 17, 1999 our Registered Office
shifted to our own premises at 11, Ekamra Kanan, Nayapalli,
Bhubaneswar - 751 015, Orissa which is the current Registered
Office of our Company. Our Companys name was changed from
we were issued a fresh certificate of incorporation by the RoC dated
May 4, 2005 and CIN No. of our Company was U13209OR1996PLC004601.

With effect from April 1, 2004 ('appointed date'), Visa Energy Resources
Limited was amalgamated into our Company. The High Court of Orissa,
Cuttack and the High Court at Calcutta vide their orders dated October 15,
2004 and September 14, 2004, approved the Scheme of Amalgamation of
Visa Energy Resources Limited into our Company from the appointed date,
and the RoC has issued the Certificate dated December 8, 2004 of
registration of order of the High Court of Orissa, Cuttack. Vide the said
scheme of amalgamation, as approved, all the assets, liabilities, contracts,
deeds, bonds, licenses, agreements, etc. of Visa Energy Resources Limited
became the assets, liabilities, contracts, deeds, bonds, licenses, agreements,
etc. of our Company, and our Company issued one Equity Share to the
shareholders of Visa Energy Resources Limited for every one equity share of
Rs. 10/- each held by them in Visa Energy Resources Limited. The paid up
share capital of Visa Energy Resources was Rs. 83,600,000 divided into
8,360,000 equity shares of Rs. 10/- each, and therefore 8,360,000 Equity
Shares were issued by our Company to the shareholders of Visa Energy
Resources Limited.


- Visa Steel has fixed the price band for its initial public offering at Rs 52-57 per share. The company is entering the capital market with an issue of 3.5 crore shares of Rs 10 each through a 100 per cent book-building process.


- Visa Steel Ltd has appointed Mr. Shiv Dayal Kapoor, as an Additional Director on Board of Directors of the Company with effect from September 01, 2008. He is joining the Board as an Independent Director.
Oct 20, 12:00 am
Oct 20, 4:15 pm
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