1989 - The Company was incorporated on 10th March, as a private
company and was converted into as a public limited company on
22nd March 1993. The main objects of the company is to
Manufacture various kinds of maize starch and allied products
- Karam Chand Thapar & Bros. Ltd. (KCT) a Thapar Group Company
the holding Company of Bharat Starch Industries Ltd., sold
starch unit as a going concern together with all assets and
liabilities relating to the aforesaid unit to Satyam Pigments
Ltd., its fully owned subsidiary effective April 1.
- Satyam Pigments Ltd., changed its name to Bharat Starch
Industries Ltd. on 3rd June. KCT was the holder of 40 equity
shares of the company as on 5th March out of the 200 equity
of the Company. The Company made a Right issue of 2000 shares
March in the ratio of 1:10. KCT fully subscribed to the
shares whereas others did not.
- Special efforts were made by the Company to promote maize
cultivation in close co-ordination with various agencies
in development of maize.
- The Company undertook expansion and modernisation programme to
rationalise the existing methods of production and bring them
line with the latest technological practice. The starch and
allied products capacity was to be increased to 34,800 tpa,
refined oil to 3,600 tpa and plant growth regulator to 240
It was proposed to import a primary centrifuge model B-30
machine at a cost of Rs.1 crore. Other machines were to be
- 24,80,917 No. of equity shares allotted to Imperial
58,30,000 No. of equity shares of Rs.10 each were issued
a prospectus in March 1994. Of which 21,30,000 shares and
11,20,000 shares were reserved and allotted on a firm basis
Associate Companies and Asian Finance and Investment
Ltd. (AFIC) Singapore respectively. Of the remaining
shares were reserved for allotment on a preferential basis to
NRIs/OCBs on repatriation basis. Additional 3,200 shares
allotted. Balance 20,80,000 shares allotted to the public.
1994 - The Company undertook to set up a project for manufacture of
citric acid at a cost of Rs.130 crores.
1995 - During March-April, the Company issued 180,13,900 Rights
shares (prop. 13:6; prem. Rs.20 per share).
1997 - The Company allotted 81,09,900 No. of equity shares of Rs.10
at a premium of Rs.9.25 per share on preferential basis by
of private placement of M/s. Staley Investments Inc.