Balrampur Chini Mills

YEAR                       EVENTS
 1975 - The Company was incorporated on 14th July at Calcutta.
 
 1977 - 1,00,000 equity shares issued to the public.
 
      - The Company ceased to be a subsidiary of the Balrampur Sugar
        Co., Ltd.
 
 1980 - Blarampur Agro Industries (P) Ltd., and Vivek Agro Industries
        (P) Ltd., became subsidiaries of the Company.
 
 1983 - A letter of intent was received to increase the crushing
 capacity
        of its factory from 1,600 to 2,500 tonnes of cane per day.
 
 1985 - 1,50,000 bonus equity shares issued in prop. 1:2.
  
 1986 - Most of the items pertaining to the expansion scheme were
        installed and commissioned.  IDBI sanctioned the balance term
        loans, during the year.  The modernisation-cum-expansion
 scheme
        for the sugar unit was to be achieved in 2 phases.  The first
        phase was to cost Rs 413 lakhs of which Rs 320 lakhs was
        received as term loans from IDBI and Rs 54 lakhs as loans
 from
        Sugar Development Fund Authorities (SDFA).  The 2nd phase was
 to
        cost Rs 220 lakhs of which Rs 162 lakhs was sanctioned by
 IDBI.
 
      - Vivek Ganna Pvt Ltd., Ganna Agro Pvt. Ltd., Maharajaganj Agro
        Industries Pvt. Ltd., and Stuti Agro Pvt. Ltd., became
        subsidiaries of the Company.
 
      - The Company issued 50,000 - 15% convertible debentures of Rs
 100
        each by private placement to UTI.
 
 1988 - During the year (9 Months), the Programme formodernisation
        -cum-expansion of crushing capacity from 2,500 TCD to 3,500
 TCD
        was initiated in a phased manner.
 
 1989 - The 1st phase of the programme was expected to be completed. 
 To
        meet the capital cost of the scheme a term loan of Rs 605
 lakhs
        was financed by IDBI, IFCI and ICICI and Rs 72.27 lakhs from
 the
        Sugar Development Fund.
 
      - The Company was granted a letter of intent to set up a new
 sugar
        unit of 2,500 TCD at Ramgarh, district Sitapur (U.P.).  Land
 for
        the said unit was acquired through U.P. State Industrial
        Development Corporation Ltd.
 
      - Balrampur Agro Industries, Ltd., Vivek Agro Industries, Ltd.,
        Ganna AGro Pvt. Ltd., Maharajgamj Agro Industries Pvt. Ltd.
 and
        Stuti Agro Pvt. Ltd. ceased to be subsidiaries of the
 Company.
 
 1990 - The letter of intent was transferred to a wholly owned
 subsidiary
        of the Company.
 
      - Balhnan Sugar Mills, Ltd., (BSMSL) formerly known as Seksaria
        Sugar Mills, Ltd., became a subsidiary of the Company.
 
      - 4,50,000 Bonus equity shares issued in prop. 1:1. 
        
 1991 - UTI used the option to convert 10% of the debentures into
 equity
        shares of the Company.  Accordingly 31,250 equity shares of Rs
 10
        each were issued at a premium of Rs 6 per share to UTI.
 
 1992 - A letter of intent was received for increasing the crushing
        capacity of Balrampur Sugar factory from 3500 TCD to 5000
 TCD.
 
      - 49,00,000 Bonus shares issued in prop. 1:1, 31,250 shares
 (Prem.
        Rs 70 per share) allotted to UTI on conversion of debs.
 
 1993 - 5,00,000 equity shares issued (Prem. Rs 516 per share) on
 private
        placement basis.
 
      - The Company undertook to set up a industrial alcohol project
 of
        60 KLPD capacity in Balrampur.
 
 1994 - During the year, the Company proposed to further increase the
        crushing capacity at Balrampur from 5000 TCD to 10,000 TCD
 and
        that of Babhnan from 3,500 TCD to 5,500 TCD.
 
      - The industrial alcohol project of 60 KLPD capacity was
        successfully commissioned.
 
      - Pursuant to the scheme of amalgamation Babhnan Sugar Mills
 Ltd.
        (BSML) and amalamated with the Company effective from 1st
 April.
        Under the said scheme the Company was to issue two equity
 shares
        of Rs 10 each for every five equity shares of Rs 10 each held
 by
        the shareholders of the erstwhile BSML.  Accordingly
 22,33,240
        equity shares were issued to the non-resident shareholders of
        erstwhile BSML.
 
      - 27,97,500 bonus equity shares issued in the ratio of 6:5.
 
 1995 - The Company's bid to purchase two sugar units from UP State
 Sugar
        Corporation Ltd. was under the review of the State
 Government.
        The expansion at Babhnan unit was commissioned and the
 expansion
        at Balrampur was past-commissioned to the extent of 7,000
 TCD.
 
      - Necessary steps were taken to implement the industrial
 alcohol
        project and commercial production was expected to commence by
 end
        of March.
 
      - The Company proposed to issue bonus shares in the ratio of 3:2
 to
        the existing shareholders.
 
      - 1,42,320 equity shares allotted to NRIs.
 
 1996 - 11,25,6465 Equity shares allotted as bonus shares in the
 prop.
        of 3:2.
 
 2000 - ICRA has assigned an A1+ rating to Commercial Paper programme
 of
              the company on an enhanced amount of Rs 75 crores.
 
            - The Company has informed about promotion of
 e-commodities
               limited, a dot com company.
 
             - The Company has redeemed preference shares worth Rs 20
 crore.
 
 2002
 
 -Board approves for the buyback of upto 1.897 million equity shares
 of Rs.10 each of the company at a price not exceeding Rs.100 per
 share.
 
 -Declares interim dividend of Rs.8.5 per share.
 
 -Balrampur Chini Mills diversifies into Indian Made Foreign Liquor
 sector.
 
 -Company did not buy back its own fully paid up shares of face value
 of Rs.10 each.
 
 2003
 
 -Appoints Mr Naresh Chandra as the Additional Director of the
 company.
 
 -Mops up  million via an ECB from Rabo India Finance and placed
 with Raobank International.
 
 -Company's equity shares have been delisted from The Uttar Pradesh
 Stock Exchange Association Ltd.
 
 
 
 2003-Delisted from The Uttar Pradesh Stock Exchange Association Ltd.
 
 -Balrampur Chini promoters shed 10% stake