- The company was incorporated as Pvt Ltd. on 13th March, in the
of Arun Ingots Pvt. Ltd. The Company was promoted by Lalitha
S.B. Sankar Sankaranarayanan, and G.S. Venkataraman & S.P. Swamy.
Company was converted into a Public Limited Company on January 22,
- The name of the Company has been changed to Balaji Steel
Limited on 30th March.
- 6,60,000 No. of equity shares of Rs 10 each allotted to promoters,
their friends and relatives. 79,38,000 No. of equity shares were
issued through a prospectus in September 1992 of which 27,80,000
were allotted on a firm basis to promoters, directors, etc. Of the
remaining 2,57,900 shares reserved for allotment on a preferential
basis to employees. Balance 49,00,100 shares 12,89,700 shares were
allotted to retain oversubscription. 5,16,000 shares to promoters;
38,700 to employees; 75,50,000 public and all were taken up.
- A company by name Nivee Industries Ltd. was amalgamated with the
company as per order received from the High Court of A.P. on 23rd
- The Company has a distillery unit namely Paramount Distilleries,
Hyderabad with a capacity to manufacture 24 lakh number of cases per
annum and a steel unit in Nellore with a capacity to produce 48,000
- As per the scheme of amalgamation Nivee were allotted 4 No. of
shares of the company for every 3 equity shares held by them.
- The Company was invested to become one of the partners by the
Govt. of Tamil Nadu along with SPIC group in developing an
infrastructure their park called Madras Industrial Park Ltd.
- The Company installed a metal printing unit for printing on
sheets at Pondicherry for ultimate conversion to roll on pilfer
caps to cater to the requirement of the liquor industry.
- The name of the Company was changed to Balaji Industrial
Ltd. in view of the deverse business interests undertaken by the
- 120,00,000 No. of equity shares of Rs 10 each allotted per share
amalgamation. 20,00,000 shares allotted to promoters on private
- The Company acquired the bulk carrier of 35804 DWT namely M.V.
- The Company proposed to import a secured land plant and machinery
manufacture of steel wires rods.
- With a view to expansion and production of value added products
company acquired the re-rolling mill owned by Krishnaveni
Pvt. Ltd., Nellore.
- The installed capacity of 49,500 tonnes of tursteel and steel
sections were to be increased in a phased manner to 34,650 tonnes
44,500 tonnes during the first year and 3rd year respectively.
-Balaji Industrial Corporation Ltd has firmed up a deal with
Industrial Finance Corporation of India Ltd and Tourism Finance
Corporation of India Ltd, for raising Rs 40 crore against an issue of
zero-coupon unsecured fully convertible debentures on preferential