| 1983 - The company was incorported in 21st Feb, at Jaipur, Rajasthan.
The company manufacturers polypropylene multifilament yarn. The
company was promoted by Gowri Shankar Poddar, Shiv Shankar Poddar
and Om Prakash Kedia.
- The company entered into an agreement with Cara Engineering chem.
AG of Switzerland (Cora) for the supply of know how. The process
parameters for design of the plant to be supplied to the company
by cora were based on the production plant of Delebro of Italy.
1985 - 6,86,600 shares subscribed for by promoters, directors, their
friends, etc. 18,63,400 shares then issued at par out of which
4,13,400 shares were reserved and allotted to promoters,
directors, etc. Out of the remaining 14,50,000 shares, the
following shares were reserved and allotted on a preferential
basis: (i) 5,00,000 shares to NRIs on repatriation basis: (ii)
72,500 shares to employees of the Company and (iii) 29,000 shares
to business associates. The balance 8,48,500 shares were offered
to the public in January 1986. 6,37,500 additional shares
allotted to retain oversubscription (25,400 shares to employees
and business associates; 1,25,000 shares to NRI to repatriation
basis; 3,12,100 shares to the public and 1,75,000 shares to
directors, their friends, etc.).
1986 - The Company undertook the business of mining, transport and
trading which yielded good results.
1987 - The Company installed a draw-texturising machine for the
manufacture of crimped yarn with a view to broad base its product
range of 500 TPA capacity.
- A letter of intent was received for the manufacture of 15,000 TPA
of polyester filament yarn.
1989 - The expansion of capacity to 3,750 TPA was being implemented.
The implementation of the Letter of Intent for producing 12,250
tonnes of synthetic filament yarn per year was decided to be done
in a single phase and the project was expected to go on stream
during 1992-93.
- Discussions were being held with foreign collaborators for
installing facilities for the manufacture of dyed chips and other
pigments/additives for backward integration.
- The Company proposed to set up a project for the manufacture of
1000 TPA of polypropylene master batches.
1991 - A new company was promoted under the name of Poddar Pigments
Ltd., to set up a plant at Jaipur for production of 1,200 TPA of
master batches for dope-dyeing the various speciality products,
polypropylene, nylon, polyester and polyethelene.
- Another project was being set-up in two phases in Tamilnadu for
production of 20,000 tonnes of speciality polyester filament
yarns like micro fibres, trilobal, cationic dyeable, dope dyed
etc., with its own poly-condensation facilities.
1992 - The company implementation the expansion plan to increase the
capacity substantially from 2750 TPA to 6000 TPA.
- An indegenous pilot plant for spinning and texturising was being
designed and developed by the Company's R&D team. This plant was
proposed to be installed by 1992.
- The Company issued 3,18,750-15% secured partly convertible
debentures of Rs 245 each on rights basis in the proportion of 1
debenture: 10 equity shares held. Additional, 47,812 debentures
were allotted to retain oversubscription.
- The Company offered 33,468 Partly Convertible Debentures
aggregating to Rs 819.99 lakhs for cash at par on Rights basis.
- Another 15,938-15% partly convertible debentures of Rs 245 each
were offered to the employees. Additional 2,390 debentures were
allotted to retain oversubscription.
- Part A of Rs 175 of each debenture was to be converted into 5
equity shares of Rs 10 each at a premium of Rs 25 per share at
the end of six months from the date of allotment.
- Part B of Rs 70 of each debenture will be redeemed at par in
three annual instalments at the end of 7th, 8th and 9th years
respectively from the date of allotment.
- The Company offered 33,468 Partly Convertible Debentures
aggregating to Rs 819.99 lakhs for cash at par on Rights basis.
- 12,000 No. of equity shares of Rs 10 each allotted on conversion
of loan.
1994 - The Company undertook the diversification cum expansion programme
to increase the market share of the company.
- The project to install the new capacity of 4750 TPA was in
advance stage of implementation and the new capacity will
commence production with effect from October, 1995.
- The Company proposed to raise additional finance through the
issue of equity shares on Rights basis in order to part finance
the on going expansion/diversification programme.
- 51,23,950 No. of equity shares issued as bonus shares in prop.
1:1.
1995 - 71,58,354 No. of equity shares of Rs 10 each for cash at a prem.
of Rs 12 per share on Rights basis issued in prop. 7:10.
2011
-Registered Office of the Company has been shifted To G-2,Tirupafi Balaji Complex, Opp: Alok School, Panchwati, Udaipur-313 001 (Rajasthan)
2012
--Registered Office of the Company has been shifted From "G-2, Tirupati Balaji Complex, Opp. Alok School, Panchwati, Udaipur- 313001 (Rajasthan)" to "8, Kushal Bagh, Near ST. George School, University Road, Udaipur- 313001.
|