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ADF Foods Industries > Company History > Food Processing > Company History of ADF Foods Industries - BSE: 519183, NSE: ADFFOODS
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ADF Foods Industries
BSE: 519183|NSE: ADFFOODS|ISIN: INE982B01019|SECTOR: Food Processing
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Company History - ADF Foods Industries
YEAR                       EVENTS
 1990 - The Company was incorporated on 27th August as a private
 limited
        company.  The Company was converted into a public limited
 company 
        on 14th September 1991.  It was promoted by Hariram Mewawala,
        Ramesh Thakkar and Kishore Thakkar.  The objects of the
 company
        is to produce a wide range of canned and bottled processed
        vegetables/foods/fruits.
 
      - The Company undertook to set up a plant at GIDC Industrial
 Estate
        Nadiad, Gujarat land admeasuring 4348 sq.mtrs. was acquired in
 
        the agro based taluka of Nadiad, Gujarat.  Plant and
 machinery
        such as Vapovax boilers model 300s, water softening plant etc.
 
        were acquired.  Large storage underground tanks were
 constructed
        at a depth of 30 feet for preservation of vegetables and
 fruits.
 
 1994 - The company undertook to set up facilities at Nasik for 
        manufacture of Masala, ground spices.  A modernisation
 programme
        was undertaken on the existing facilities at Nadiad.  With
 these,
        the Company expected to double its capacity to 12600 tonnes
 per
        annum.  
 
      - The Company issued 25,00,000 No. of equity shares of Rs.10
 each
        at a price of Rs. 62 per share to Indian financial
 institution,
        Indian mutual funds and Indian Corporate entities on private 
        placement basis.
 
      - The Company issued 7,25,806 warrants to promoters which was to
 be
        converted into equity shares within 18 months at a price of
 Rs.62
        per share.
 
 1995 - In November, the capacity at Nadiad plant was expanded to
 19,900 
        TPA from 12,600 TPA.
 
      - 70 No. of equity shares of Rs.10 each issued, subscribed and
 paid
        up.  71,99,930 No. of equity shares of Rs.10 each were issued
 in
        as follows: 
 
      - (i) 28,79,930 No. of equity shares allotted on a firm basis
 to
        Indian resident, directors their friends and relatives.
 
      - (ii) 2,16,000 shares issued on preferential basis to
 employees
        (all were taken up).
 
      - (iii) Balance, 41,04,000 shares were issued to public.
        Additional 10,80,000 shares were allotted to retain 
        oversubscription (4,32,000 shares to promoters, 32,400 shares
 to 
        employees, 615,600 shares to public).  25,00,000 No. of
 equity
        shares issued on private placement basis (8,00,000 shares at
 the
        rate of Rs.10 per share and 17,00,000 shares at the rate of
 Rs.5
        per share).
 
 1996 - The overall performance of the Company resulted in a loss due
 to
        spoilage of raw materials worth Rs 80 lakhs.  The domestic
        division's sales dropped mainly due to stiff competition and
 the
        change in sales policy.
 
 2003
 
 -Sets up an Export Oriented Unit (EOU) at Nadiad for manufacturing
 and processing of frozen food products
 
 2005
 
 -Adf Foods Ltd has entered into an MOU with the partnership firm M/s
 American Dry Fruits Stores for usage of all 4 brands namely Ashoka,
 Camel, Aeroplane and Classic Ashoka owned by the partnership firm
 until November 20, 2005.
 
 2006
 
 -Adf Foods Ltd has recommended a dividend @10% (Re 1/- per equity
 share of Rs 10/- each).
 
 2007
 
 -Adf Foods Ltd has recommended a final dividend @ 10% (Re 1/- per
 share).  Total dividend (including interim dividend of 10%) will be @
 20% (Rs 2/- per share).
 
 2008
 
 -Mr. Ravinder Kumar Jain has been appointed as an Additional Director
 of the company
 
 -Adf Foods Ltd has recommended final dividend @ 10% (Re 1 per Share)
 
 2009
 
 -Adf Foods Ltd has recommended a dividend of 15% i.e. Rs 1.50/- per
 share 
 
 -Company has incorporated a wholly-owned Subsidiary by the name of
 ADF FOODS (INDIA) LTD 
 
 2010
 
 -Company's wholly-owned subsidiary, ADF Foods (India) Ltd. has
 received the Certificate of Commencement of Business.
 
 -ADF Foods Ltd. Completes Acquisition of Elena's Food Specialties,
 Inc.
 
 2011
 
 -ADF Foods Ltd. has recommended a dividend @ Re. 1.5/- per share
 
 2012
 
 -ADF Foods Ltd. has recommended a dividend @ Re. 1.5/- per share
 
 -Mr. Nishikant Bapat has been appointed as Executive Vice-President
 of the Company
Source : Dion Global Solutions Limited
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