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SPEL Semiconductor Ltd. Company History and Annual Growth Details

YEAR EVENTS
1984 - The Company was Incorporated as a private limited company on 26th
December, and was converted into a public limited company on 20th
March, 1986.

- The Company was promoted by Southern Petrochemical Industries
Corporation Ltd., (SPIC), a leading fertiliser manufacturer.

- The Company's object is to manufacture of computer tapes, floppy
diskettes, jumbo rolls for floppy diskettes and assembling and
packaging of Integrated Circuits (ICS).

- The Company undertook to set up an electronic project for the
manufacture per annum of 250 MRM of computer tapes, 2 million
nos. of diskettes and 0.42 MKM coated jumbo rolls (13" width) for
floppy diskettes and for assembling and packaging of 25 million
nos. per annum of integrated circuits on 22.27 acres of land at
Maraimalai Nagar Industrial Complex near Chennai in Chingleput
district of Tamil Nadu.

1988 - 9 shares subscribed for by the signatories to the Memorandum of
Association. 70,99,991 shares were then issued at par out of
which the following shares were reserved and allotted on a firm
basis:

- (i) 17,49,991 shares to promoters, directors, etc. and SPIC;

- (ii) 2,50,000 shares to UTI and

- (iii) 2,50,000 shares to LIC.

- Out of the remaining 31,00,000 shares, the following shares were
reserved for preferential allotment:

- (i) 3,55,000 shares to employees (including Indian working
directors)/workers of the Group Cos. (none were taken up) and

- (ii) 12,00,000 shares to NRIs on repatriation basis (all were
taken up).

- The balance 15,45,000 shares, along with 3,55,000 shares not
taken up by employees were offered for public subscription during
August. Additional 10,65,000 shares were allotted to retain
oversubscription (2,62,500 shares to promoters etc. including
SPIC, 2,62,500 shares to shareholders of SPIC, 1,74,100 shares to
NRIs on repatriation basis and 3,65,900 shares to the public).

1989 - Substantial job contracts were accepted from the Semi-conductor
Complex, Chandigarh since their factory was out of operation due
to fire accident.

- Govt. of India gave its consent for inclusion of 74 LS series and
telephone ICs under the restricted list effective 9th January,
1990.

- Apart from 74 LS ICs and TV ICs, the Company introduced three
types of push button telephone ICs. The Company's high value
memory ICs (256 K D-RAM) and clock ICs, recently introduced, were
well received in the market.

1990 - After the establishement of 74 LS ICs (used in telecommunication
equipment) the Company commenced production of Linear ICs used in
instrumentation and professional electronic equipment.

- The Company also undertook to set up a magnetic media project.
Most of the major equipments were imported and were under
erection.

- The Company's `Kit' form supply for Siemens designs enabled the
push button telephone manufacturers their requirements from one
source. Similar `kit form ICs' for Ericcson design were proposed
to be introduced.

- The Company identified `Memory ICs' required in large volume in
India and was in the process of packaging and marketing them.

- In view of the increasing demand for Quartz Watches, the Company
obtained SA registration for manufacture of 3 million ECBs per
annum.

- The Company had tied-up with M/s. Hitachi, Japan to introduce
CODEC ICs.

1991 - The Company commissioned the computer tape plant and the diskette
plant for 5 1/4" 48 TPI diskettes.

- The Company entered into a technical collaboration agreement with
M/s. Computer Resources Inc. (CRI), U.S.A. for the magnetic media
project. They were to provide technical know-how, basic
engineering for utilities and off-site facilities, procurement,
services, inspection, supervision of erection and also monitor
project schedule. The CRI's products are sold under the brand
name "OPUS".

- A Memorandum of Understanding was reached between SGS
Microelectronica SpA, Italy and the Company for technical
assistance to Indian technicians at their plant and also for
deputation of its experts to India.

- High value ICs like Codec (tied-up with Hitachi, Japan) and SRAM
(tied-up with Hyundai, South Korea) were introduced.

- The Company entered into a long term agreement with Semi
Conductor Complex Ltd. (SCL) earmarking 50% of the Company's IC
packaging facility for SCL's requirements.

- Computer tape plant and diskette plant for 5 1/4" - 48 TPI
diskettes were commissioned.

1992 - Total turnover increased by about 42% over the previous year
mainly due to introduction of high value ICs such as Codec and
SRAM. The profits, however, did not register a commensurate
increase due to reduction in the prices of the company's products
following competition from foreign suppliers.

- 3,300 shares forfeited in August and were subsequently reissued
(prem. Rs.5 per share). In Jan/Feb. 1993, 81,65,000 rights
shares offered (prem. Rs.5 per share; prop. 1:1) (all taken up).
Another 4,08,250 shares offered (prem. Rs.5 per share) to
employees, etc. (only 39,000 shares taken up). The balance
3,69,250 shares allowed to lapse.

- The Company successfully tied-up with Hitachi, Japan for source
of raw material for Codec ICs.

1993 - The Company introduced 256 K DRAMICS which were required for the
indigenous switching exchanges and the same were under trials by
the DoT.

- There was a requirement to convert the Magnetic Media Project
(MMP) as export oriented unit MMP would mainly manufacture video
tapes in the form of pan cake and 3 1/2" floppy diskettes of 1 MB
and 2 MB capacities.

1994 - The Company's turnover reduced due to heavy destabilisation of
indigenous telecom equipment sector.

- The Company's rights issue of 81,65,000 No. of equity shares of
Rs 10/- each at a premium of Rs 5/- per share to the existing
shareholders of the Company on 1:1 basis was fully subscribed.

1996 - The Company has allotted 86,88,160 No. of equity shares of
Rs.10/- each, at par, as fully paid- up, to the Financial
Institutions.

1997 - The Company will be setting up a Laser Trimming facility.

- The promoters of Spic and Madras Refineries Ltd. have agreed to
constitute a committee to suggest a methodology for re-appraisal
of the projects finalised by Spic.

1998 - The Company allotted 51,50,000 No. of equity shares of the face
value of Rs. 10/- each at par in the Company's equity share
capital as fully paid-up equity shares to M/s. Southern
Petrochemical Industries Corporation Limited (SPIC).

- MMP was set up by SPIC Electronic to manufacture computer
tapes, floppy diskettes and jumbo rolls.

- Engaged in manufacturing electronic integrated circuits, floppy
disketts and computer tapes Chennai based Spic Electronic and
Systems Limited has been promoted by Southern Petrochemical
Inustries Corporation Ltd.

2000

-Spic Electronic System Ltd will change its name to SPEL
Semiconductor Ltd.

2007

-Registered Office of the Company shifted from MAC House, 4 Sardar Patel Road, Guindy, Chennai to 5 CMDA Industrial Estate, Maraimalai Nagar, Chennai.

2013
-SPEL Semiconductor appointed Mr. N. Ramakrishnan s an Additional Director of the Company.

2014
-SPEL Semiconductor appointed of Mr. M. Jayasankar as Additional Director of the Company.

2015
-VCSC Flood Relief
-Chairman addresses IIT-B FAN PD in USA
-Natronix-SPEL has signed a MoU with Government of Tamil Nadu for ?500 Crore investment during the Global Investors Meet

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