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Bhushan Steel > Company History > Steel - CR & HR Strips > Company History of Bhushan Steel - BSE: 500055, NSE: BHUSANSTL

Bhushan Steel

BSE: 500055|NSE: BHUSANSTL|ISIN: INE824B01021|SECTOR: Steel - CR & HR Strips
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Company History - Bhushan Steel
YEAR                                                      EVENTS
 1983 - The company was incorporated on 7thJanuary,  under the name of
 Jawahar  Metal Industries Private Limited for the manufacture of cold
 rolled steel strips  and steel ingots at Sahibabad Industrial Area,
 District Ghaziabad.  
 1987 - On 14th January, Brij Bhushan Singal and his sons Sanjay
 Singal and Neeraj  Singal and associate companies took over the
 management of the company  by acquiring the entire share capital of
 the company.
 1989  - The company undertook the setting up of a new plant for the
 manufacture of wide  width Cold Rolled Steel Strips with integrated
 plant facilities.
 - The company became a deemed public limited company under Section
 43-A (I-A) of the Companies Act, 1956 with effect from 14th July. 
 1992 - The name of the company was changed to the present name of
 Bhushan Steel & Strips
 Limited and fresh Certificate of Incorporation was issued on 9th
 - The company completed the expansion of the cold rolling plant in
 1993 -  The company made its maiden Public Issue of 22 lac equity
 shares of Rs.10 each 
 at a premium of Rs.55 share aggregating Rs. 1430 lacs in
 -  The shares of the company were listed on the Delhi Stock Exchange
 on 22nd December 
 consequent to which the company became a widely held listed public
 limited company.
 - The Company allotted 26,43,600 No. of Equity Shares of Rs.10 each
 at a premium of  Rs.55 per share on 3rd December.  As a result of
 this, the total issued capital of the  Company has increased to Rs.
 11.00 Crores. 
 1994 - The galvanising plant was commissioned in January.  Presently
 the company has 
 facilities for the manufacture of 1,20,000 tonnes per' annum of wide
 width cold rolled steel strips and 1,00,000 tonnes per annum of
 galvanised sheets. 
 - The Company proposes to set up a new plant for manufacture of 1.5
 lac tpa of wide width CRCA Coils with further integration by way of
 40,000 tpa of Galvanised Sheets at an adjacent/contiguous location to
 the existing plant facilities at Sahibabad  Industrial Area, Distt.
 Ghaziabad in Uttar Pradesh.
 - The Company proposes to set up an Integrated Steel Plant for
 manufacture of 1.2  Million Tonnes per year of H.R. Coils at Daitari
 in the State of Orissa. 
 - The Company has engaged Metallurgical & Engineering Consultants
 (India) Ltd. (MECON) as engineering Consultants for setting up the
 Integrated steel plant.
 1995 -  The Cold Rolling Expansion the Company is installing state of
 the art 1600mm  width 6HI combination Universal Crown Mill (UCM) of
 Hitachi, Japan  with  sophisticated features for shape control and
 surface finish to cater to the  requirements of the automobile and
 white goods sector. 
 - The Company offered a Right Issue of 82,50,000 Unsecured Zero
 lnterest Convertible Debentures aggregating Rs. 5362.50 lacs with
 Detachable  Warrants which was well received by the shareholders and
 was over subscribed.
 - The Company also made a Public Issue of 68,94,800 - 14% Unsecured
 Fully  Convertible Debentures aggregating Rs. 16750 Lacs including
 firm allotment  of 20,24,800 Debentures aggregating Rs. 5062 Lacs.  
 -  Bhushan Capital & Credit Services Ltd. and Jawahar Credit &
 Holdings Ltd.  are subsidiaries of the Company.
 1996 - The Part B of 68,94,800 14% unsecured fully convertible
 Debentures aggregating  Rs 8375 Lacs have been converted into Equity
 Shares w.e.f. 1st April.
 1998 - With the commissioning of the new plant recently set up at
 company's existing site  at Sahibabad (UP), the company is now
 exploring further growth possibilities of  setting up a modern Cold
 Rolling cum Galvanizing Unit at West Coast of the Country. 
 - The Delhi-based Bhushan Steel and Strips Ltd  to setup two steel
 cold rolling and  galvanising units - one near Haldia and the other
 at Patalganga, near Mumbai.  
 - The Rs.800-crore Bhuhsan Steel has commissioned a cold rolled steel
 plant at  Ghaziabad, in collaboration with Sumitomo of Japan, which
 will cater to the needs  of the automotive sector.
 1999 - During the year, the company has set up a dedicated service
 centre for large  OEM customers at Sahibabad so as to ensure supplies
 to them on 'just in time' concept.
 2000 - The Delhi-based Bhushan Steel and Strips' to set up a Rs 750
 crore cold rolled steel plant is likely to hit a road block.
 -  The company has proposed to set up a steel plant with a 2.8 m t
 p.a capacity on  5,000 acres of land in a two-phase programme.
 -  Bhushan Steel & Strips is to set up Rs 4,000 crore, 2.5 million
 tonne hot-rolled coil  steel plant. 
 - The company is also exploring possibility of raising funds through
 the GDR and ADR route. 
 - The Board has approved amalgamation of Bhushan Ltd. with the
 company and setting up project of 2,50,000 tpa Cold Rolled Products
 in Maharashtra.
 -Strikes an important position in the market for cold rolled steel
 for automobiles, feeding over 70% of demand for car bodies.
 -Enters into a strategic alliance with Sumitomo Metal Industries of
 Japan under which, the latter has further extended process know-how
 for the manufacture of automotive steel sheets for a period of six
 -Board approves the setting up of Hot Rolled Coil Project in Orissa
 -Sanjay Singal resigns as Managing Director of the company
 -Board approves Delisting of Equity Shares from Ahmedabad, Calcutta &
 Delhi Stock Exchanges
 -Bhushan Steel awards Rs 36 cr order for BHEL
 -Delists shares from  Ahmedabad and Delhi Stock Exchanges
 -Bhushan Steel & Strips Ltd has informed that Sh. Sanjay Singal, has
 ceased to be a Director of the Company w.e.f. October 18, 2006.
 -Company name has been changed from Bhushan Steel & Strips Ltd to
 Bhushan Steel Ltd
 -Bhushan Steel Ltd has informed that w.e.f. September 23, 2008, Sh. B
 B Tandon has been appointed as an Additional Director on the Board of
 the Company as a Independent Non-Executive Director.
 -Bhushan Steel Ltd has informed that the Company has signed two Joint
 Ventures with Bowen Energy Ltd., Australia regarding exploration and
 commissioning of coal mine(s) in Australia.
 -Bhushan Steel - MoU with Madhya Pradesh Govt.
 -Bhushan Steel buys Aussie exploration firm 
 - Bhushan Steel Ltd has informed that Life Insurance Corporation of
 India has appointed Smt. Sunita Sharma, their representative as a
 Nominee Director on the Board of the Company.
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 -BhushanSteel has recommended Dividend on Equity Shares @ Re. 0.50
 per share 
 - BhushanSteel has recommended Dividend on Equity Shares @ Re. 0.50
 per share recommended for the year ended March 31, 2012.
 -Bhushan Steel Ltd Issues Rights in the Ratio of 1:15
 - Board recommended a Dividend on Equity Shares @ Re. 0.50 per
 -The Registered office of the Company has been shifted from F-Block,
 1st Floor, International Trade Tower, Nehru Place, New Delhi -110019
 to Bhushan Centre, Ground Floor, Hyatt Regency Complex, Bhikaji Cama
 Place, New Delhi -110066.
 -Bhushan Steel gains over 5% on plans to acquire Orissa Sponge Iron
Source : Dion Global Solutions Limited
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