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BSL Ltd. Company History and Annual Growth Details

1970 - The Company was Incorporated on 24th October, as a private
limited company and converted into a public limited company on
6th May, 1986. The Company is engaged in the manufacture of the
"Bhilwara" suiting and shirting. The Company has established a
manufacturing capacity of 20 lakhs metre of fabrics per annum at
its two plants in Rajasthan.

- The Company's objects is manufacturing and marketing of all types
of synthetic fabrics.

1984 - The Company had taken up a scheme for replacement of its old
cimmco looms. As a result of this scheme, 8 latest Sulzer
projectile looms were imported from Switzerland and installed.

- Till date, 2,920 shares issued without payment in cash.

1985 - 16 more Sulzer weaving machines were imported for the Company's
Mandapam unit.

- A letter of intent was received for setting up a worsted
spinning mill with a capacity of 25,000 spindles.

1986 - 5,89,757 shares issued at par out of which the following shares
were reserved for preferential allotment: 1,52,560 shares to
existing shareholders; 29,497 shares to employees (including
working directors); 11,200 shares to business associates and
2,34,000 shares to NRIs with full repatriation rights. 5,197
shares out of employees and business associates quota and
22,000 shares out of non-residents quota were not taken up. The
balance 1,62,500 shares along with the unsubscribed portion
of 27,397 shares out of the preferential quota were offered for
public subscription during June. 1,47,343 additional shares
allotted to retain oversubscription (38,140 shares to
shareholders and 1,09,203 shares to the public).

1988 - 3,584 spindles were set up in the follow up of N. Schlumberger's
of France preparatory. It was also proposed to procure
international know-how from Europe for manufacture of worsted
fabric in light weight category.

1989 - 30,000 pref. shares subscribed by financial institutions.
20,50,000 No. of equity shares of Rs.10 each issued at par of
which 13,47,343 shares offered as rights shares in prop. 1:1 (all
were taken up).

- Additional 17,885 shares were allotted to retain
oversubscription. Another 1,02,500 No. of equity shares were
issued to employees on an equitable basis (only 9,500 shares
taken up).

- The remaining 6,00,157 shares along with 93,000 shares not taken
up by employees were offered for public subscription during
February (all were taken up). Additional 2,89,516 shares were
allotted to retain oversubscription.

1992 - During September, the Company issued 18,52,422 No. of equity
shares of Rs.10 each at a prem. of Rs.10 per share on rights
basis in the prop. of 1:2. All were taken up. Allotment of
2,150 shares was kept in abeyance.

- Another 92,621 No. of equity shares of Rs.10 each at a prem. of
Rs.10 per share were offered to the employees. All were taken

- 19,45,043 shares issued on rights basis.

1993 - The Company undertook to expand the weaving section by
installation of 25 Sulzer projectile weaving machines.

1994 - The Company entered into a collaboration agreement with worsted
fabric manufacturers in Germany for manufacture of woollen/
worsted fabrics. EOU is being set up in the name of BSL Wulfing

- 1792 spindles were further installed for production of superfine
varieties of worsted yarn enabling manufacture of yarn for higher
range pure wool and poly wool suitings.

- The name of the Company was changed from Bhilwara Synthetics Ltd.
to BSL Ltd.

- 1,021 No. of equity shares issued on rights basis.

1995 - 25 Sulzer single width projectile weaving machines were installed
in March.

- The Company had undertaken to install 44 Sulzer weaving machines
of which 16 were installed and commercial production was started.

- The Company issued 17,00,000 No. of equity shares of Rs.10 each
at a prem. of Rs.100 per share through a prospectus as follows:

- 1,87,000 shares on firm allotment basis to promoters, relatives.

- 3,00,000 shares to Indian Development & Multilateral Financial
Institutions/Mutual Funds/banks (only 1,50,000 shares taken up).

- 3,60,000 shares to FIIs/OCBs/NRIs (only 2,06,900 shares taken up)

- Balance 8,53,000 shares along with 3,03,100 shares not taken up
under preferential quota was issued to the public (all were taken

- 16,85,800 No. of equity shares issued through prospectus.

1996 - With effect from 18th March, the joint venture agreement with
M/s. Wulfing Tuchfabrik GmbH was terminated due to its failure
to provide the committed funds in the form of equity capital to
the Company.

1998 - 1920 spindles were installed in its Worsted Spinning Division to
enhance its capacity to 7904 spindles.

- 30,00,000-14% redeemable cum. pref. shares of Rs. 100 each
redeemed on Feb. 1999.

2001 - Mr. J.N. Pathak, Mr. A.K. Jhajharia and Mr. Pradeep Agarwal resigned
from the Board.


-Equity shares of the company delisted from Delhi Stock Exchange with effect from February 11, 2004

- The 2.40 MW Wind Power Mill has commenced the commercial generation of power wef March 10, 2004 at Jaisalmer (Rajasthan).


- BSL Ltd has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, have co-opted Shri. A N Choudhary as Additional Independent Director.


- The Board of Directors have declared Interim Dividend @ 7.50% i.e. Rs. 0.75 on every Equity Share of Rs. 10/- each amounting to Rs. 77.19 lacs for the financial year.


-M. K. Doogar has been appointed as an Additional Independent Director of the company.
-Company have reappointed Nivedan Churiwal as Executive Director and K Churiwal as Chairman & Managing Director of the company.


-Company has recommended Dividend @10% (Rs.1/- per share).