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Khandelwal Extractions Ltd. Company History and Annual Growth Details

-It was converted into a public limited company on 26th May 1982 and a fresh certificate of incorporated was obtained on 14th June. The main object of the company is extraction of Oils by Solvent process mainly from ricebran and oil cakes. It waspromoted by V N Khandelwal and Dinesh Khandelwal.

-The Company had set up a solvent extraction plant with the capacity of processing 15,000 tonnes per annum based on 300 days of working at Akrampur, Kanpur. The capacity was increased to 30,000 tonnes per annum.

-During August, the Company offered 8,35,000 No. of equity shares of Rs 10 each for cash at par. Of which 2,00,000 shares were offered to the existing shareholders on right basis with a right to dispose of any unsubscribed portion in the manner deem fit, 35,000 shares were offered to the promoters, directors, 2,40,000 shares to NRIs, 30,000 shares to Employees and the balance 3,30,000 share were offered to public.

-1,47,500 No. equity shares were held by Promoters, Directors, their friends and relatives. 7,62,500 No. of equity shares were issued through prospectus.

-The Company decided to convene on 29th February for issue of 13.5% Cum.Red. preference shares of Rs 100/- each and proceeds of the same to be utilised partly for redumption of existing preference shares alongwith arrear of dividend thereon.