Indage Restaurants and Leisure Ltd. Company History and Annual Growth Details

YEAR EVENTS
1982 - The Company was Incorporated on 7th October, at Mumbai.

- The Company was promoted by the Indage group of industries and is
a 100% export oriented unit.

- The company's object is to manufacture of wines and liquors.

- The Company entered into a technical collaboration agreement with
M/s. Champagne Technologies (C.T.) of France. Under the
agreement C.T. would provide process know-how, assist in
selecting machinery and depute technical personnel to supervise
and monitor the trial runs and commercial production. Each year,
CT would also depute wine masters at various stages to supervise
the grape crushing, fermentation and bottling of the sparkling
wines.

1983 - All shares allotted to promoters, directors etc.

1984 - 15,00,080 No. of equity shares reserved and allotted to promoters
directors, etc. 3,00,000 shares reserved for preferential
allotment to NRIs on repatriation basis (only 1,98,200 shares
taken up). The balance 9,00,080 shares along with 1,01,800
shares not taken up by NRIs were offered to the public in Oct.
1984.

1986 - During July-August, the Company offered 80,000 - 15% convertible
debentures of Rs.100 each on Rights basis in the prop. 1 deb:
25 equity shares held (all were taken up). Additional 20,000
debentures were allotted to retain oversubscription. Rs.50 of
the face value of each debenture was converted into five equity
shares of Rs.10 each on 1st October, 1987. The balance of Rs.50
of the face value of each debenture was also converted into 5
equity shares of Rs.10 each at par on 31st December, 1988.

- 5,00,000 No. of equity shares issued at par in conversion of
debentures on 1.10.1987.

1987 - Production declined to 11,111 bottles due to sluggish demand.

- 5,00,000 No. of equity shares issued at par in conversion of
debentures on 31st December, 1988.

1993 - The Company continued to incur loss due to heavy incidence of
cost of interest and unremunerative prices in the overseas
market.

1994 - 14,00,000 No. of equity shares issued on prem. of Rs.5 on pref.
basis.

2002-Haresh G Desai appointed as Director of Champagne Vineyards.

2008

- Company name has been changed from Champagne Vineyards Ltd to Indage Restaurants and Leisure Ltd.