| YEAR EVENTS
1991 - The Company was Incorporated on 4th June, in the state of Andhra
Pradesh and obtained the Certificate of Commencement of Business
on 22nd July. It was promoted by N.V. Rallaiah, N. Harihara
Prasad, N. Bhanu Prasad and N.S.R. Chandrasekar Rao.
- The Company's objects is to manufacture of polished granite
slabs.
- The Company undertook to set up a 100% Export Oriented Unit (EOU)
at Narasapur, Village, Medak District, Andhra Pradesh. Land
admeasuring 11 acres was acquired for the factory. The company
was in possession of 4 Govt. leased quarries spread over about
25 acres in Nalgonda, Warangal and Anantpur districts. Quarrying
equipments for scientific exploitation was acquired. Modern
automatic quarrying machines were procured from Italy for
granite processing along with special efficiency boosting gadgets
- The Company finalised detailed plant lay-out in Consultation with
BRA Officine Meccaniche S.p.a., Italy. The arrangement includes
supply of equipments, drawing, foundation details, erection,
commissioning and training services.
- The Company entered into a buy-back arrangement with M/s.
Stone-Age Inc. USA for a period of 7 years to sell its polished
granite slabs, tiles and other related granite products.
1993 - 70 No. of equity shares subscribed for by signatories to the
Memorandum of Association 103,50,000 No. of equity shares of
Rs.10 each then issued through a prospectus in November 1993 of
which 27,50,000 shares and 25,00,000 shares reserved and allotted
on a firm basis to NRI promoters and to Indian promoters,
directors, their friends etc. Of the remaining, the following
were reserved for allotment on a preferential basis:
- (i) 19,600 shares to employees (none were taken up),
- (ii) 10,00,000 shares to NRIs on repatriation basis (114,500
shares taken up)
- (iii) 10,00,000 shares issued to Mutual Funds (none were taken
up) Balance 30,80,400 shares along with 19,05,100 shares not
taken up and under preferential quota issued to the public (all
were taken).
2004
-Board recommends dividend of 10%.
2012
-Board recommends dividend of 15%.
2013
-Divyashakti Granites has recommended a Dividend of 15% on equity share.
2014
-Divyashakti Granites has recommended a Dividend of 15% on equity share.
2022
-Company name has changed to Divyashakti Ltd. from Divyashakti Granites Ltd.
|