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Gammon India
BSE: 509550|NSE: GAMMONIND|ISIN: INE259B01020|SECTOR: Construction & Contracting - Civil
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Company History - Gammon India
YEAR                                                   EVENTS
 1922 - The company was incorporated and then converted into a public
        Ltd. company on 31st April 1962.  The main object of the
 company
        was Builders and contractors, reinformed concrete
 specialists,
        engineers, architects, surveyors estimators and designers. 
 Also
        manufacturers of sulphuric acid and superphosphate.
 
      - 13,200 shares issued without payment in cash.  (Of which
 8,000
        shares were issued to vendors).
 
 1932 - Capital reduced by reducing the nominal value of the share
 from
        Rs. 100 to Rs. 40 as per Capital Reduction Scheme approved by
        High Court on 4.12.1931.
 
 1953 - 10,000 Bonus shares issued in the proportion 2:3.
 
 1956 - At the time of incorporation, the name of the Company was 
        J.C. Gammon (Mumbai) Ltd.  The name was changed to Gammon
 India
        Ltd.
 
      - 12,500 bonus shares issued in the proportion 1:2.
        
 1962 - 2,50,000 Bonus share issued in proportion 5:6.
 
 1963 - In May, 6,00,000 shares offered (prem. Rs.7 per share). 
 1,97,500
        shares reserved for directors etc. and the staff of the
 company.
        4,02,500 shares offered to the public.
 
 1964 - 2,30,000 Right shares offered (prem. Rs. 1.50 per share; prop.
 
        1:5)
 
 1967 - In October, 1,65,600 Bonus Equity shares issued in the
 proportion
        3:25.
 
 1975 - On 23rd August, Gammon Nirma Ltd., was incorporated as a 
        subsidiary of the company.  10,200 equity shares of Rs. 100
 each
        out of 10,204 shares issued are held by Gammon India Ltd.
 
      - Gammon Turnkeys Ltd., is a subsidiary of the Company with a 
        holding of 9,990 No. of equity shares of Rs. 100 each out of
        10,000 No. of equity shares issued.
 
      - Bhagirathi Bridge Construction Co. Ltd., is an associated
 company
        of Gammon India Ltd., while Gammon-Shah is a partnership firm
        with 50% share for Gammon India Ltd.
 
 1977 - The company is associated with Gammon Eastern Union Ltd.,
 Hong
        Kong, who promoted Gammon Midest Ltd. joint venture company
 in
        Sharjah, United Arab Emirates with a participation of Dh.
        7,85,000 representing 50% of the capital of the joint venture
        entered with Dh. 27,15,000 (Dh. 1 = Rs.2.2 approximately) as
 term
        loan for three years.
 
      - This joint venture company was incorporated in April, and was
 to
        undertake construction and service contracts in the Middle
 East
        and elsewhere.
 
 1979 - The Company entered into a collaboration agreement with
        Koninklijke Machinenfabrick Stork B.V. Hengelo, Netherlands
 for 
        a period of 5 years for the manufacture of fibreglass impeller
 
        blades for cooling towers.
 
      - Another agreement was entered into with Societe Hamon Sobelco
        S.A. Belgium which provides for consultancy services in
 advanced
        computer analysis for the natural drought cooling towers
 which
        the Company undertook to construct for the Narora Atomic Power
 
        Project.
 
      - Machinen Fabrick Stork were the collaborators for the
 manufacture
        of fibre-reinforced plastic blended impellers.  In order to
 keep
        abreast of the improvements abroad, the Company applied for 
        extension of the collaboration agreement including the
 know-how
        for new generation ENF impeller series with the
 collaborators.
        Approval from the Government was received and the agreement
 was 
        extended for a further period of 3 years.
 
 1980 - The capital of Gammon Midest Ltd., increased from Dh. 15.70
 lakhs   
        to Dh. 50 lakhs and the company's contribution thereby
 increased
        from Dh. 7.85 lakhs to Dh. 25 lakhs.  
   
      - This increase of Dh. 17.15 lakhs in the capital comprised 357
 
        bonus equity share of Dh. 10,000 each and 1,358 right equity 
        shares of Dh. 1,000 each.  The 1,358 right shares were
 subscribed
        for through a loan advance by a non-Indian Director to be
 repaid
        by the company from further profits as approved by the 
        Government of India.
 
 1982 - 6,18,240 Bonus Equity shares issued in proportion 2:5 in
 March.
 
 1985 - Gammon Midest Ltd., ceased operations since the year due to
 Gulf
        war.  The company went into liquidation on 27th June, 1988 by
        order of Sharjah Civil Court, Sharjah.
  
 1986 - The performance and the future outlook of Gammon Fer-Chems, 
        division the company proposed to dispose of the division by
 sale
        or lease, subject to necessary approvals being obtained.
 
 1987 - Production of sulphuric acid and super phosphate was
 restricted
        to four months.
 
 1988 - Approval of the shareholders was received on 29th January,
 for
        closure of Gammon Fer-Chems Unit.  The unit was subsequently
        closed down.
 
      - A new joint venture company, Heitkamp Gammon Ltd., was being 
        established with Gammon India Ltd., and Heitkamp Rohrbau GmbH,
 
        West Germany as the principal promoter shareholder.  The
 proposed
        company would have an authorised capital of Rs. 25 lakhs.
 
      - Gammon India proposed to invest in the share capital of the
 joint
        venture company upto 49.5% of the subscribed capital, the
 total
        nominal value of the shares subscribed by the Company not 
        exceeding Rs. 12,37,500 at any time. 
 
      - The new company, Heitkamp Gammon Ltd., would undertake
 contracts
        of repairing and protecting water lines, sewerage lines and
        similar public works by exploiting the sprayed cement mortar
        lining technique.
 
      - The Company in association with Hanon Sabelco (U.K.), Ltd., 
        proposed to set up a joint venture Company for the
 manufacture
        of cooling tower infill products, with an authorised capital
 of
        Rs. 50,00,000 and a paid up capital of Rs. 25,00,000.  Hanon
        proposed to subscribe 39.5% of the capital while the Company
 and 
        others proposed to subscribe to 49.5% and 11% respectively in
        the joint venture.
 
 1989 - The R&D Division undertook development of energy efficient
 GFRP 
        bladed fans for ID Cooling towers and PP splash grid modular
        packing system for ND/ID covering towers, alternative packing
        systems etc.
 
      - Also, development and manufacture of places booms for
 concreting,
        mobile shuttering systems complete with hydraulic
 arrangement.
        For jacking and lowering upto a height of 2.5 mm, Integrated
        sereed vibration systems for deck concreting, sprial tube
 making
        machine upto 200 mm dia. for prestressing cables etc. were
        undertaken.
 
 1990 - A turnkey contract of the approximate value of Rs. 120.00
 crores
        secured from International Youth Travel Bureau of USSR and 
        `SPUTNIK', Moscow, USSR for the contruction of a 900 bed
 hotel
        in Moscow.  Contracts valued at Rs. 100 crores were under
        negotiation.
 
 1992 - The contract for construction of 900 bed hotel in Moscow was
        foreclosed, with the concurrence of the working group
 Committee 
        of the Exim Bank in terms of the agreement entered into
 between 
        the Company and Sputnik on 23rd February, 1993.  Due to the
        fragmentation of the erstwhile USSR and further due to the
        abrogation of the Soviet Indian, Business Treaty.
 
 1994 - The company was awarded a time bound large size Civil
        Engineering contract for construction of three bridges with
        approach road replacing flood damaged bridge of Prithvi
 Highway
        towards Noubise and Malekhu section of sakkar, Nepal.
 
      - The contract is funded by the world bank and 70% of the
 payment
        is in US Dollars.
 
      - R & D division developed, fabricated and put into commission
 the 
        headmast and tail-mast for 700 m span cable ropeway for
 Alamatti
        Dam as also 1500 mm dia. double-wall casing for executing the
 
        pile foundations for transmission towers at Tezpur for 60 m
 deep 
        piles.
 
 1995 - The Company made a rights issue of 6,24,000 No. of Equity
 shares
        of Rs. 10 each for cash at par which was unsubscribed to the
        extent of 5,02,898 equity shares of Rs. 10 each.
 
      - The Freyssinet Pre-stressed Concrete Co. Ltd., is a subsidiary
 of
        the Company.  1,01,744 shares of Rs. 10 each out of 1,04,000
        shares issued by this subsidiary are held by the company.
   
      - Gilcon Project Services Ltd., with a paid up capital of
 Rs.25,000
        is a wholly owned subsidiary of the company.
 
      - The R & D division designed and manufactured a special reverse
 
        circulation pilling rig for 1500 mm diameter piles capable for
 
        depths upto 75 m.  
 
      - The R&D division also developed special techniques for
        installation of 1500 mm diameter piles through the reinforced
        concrete well steining for a Bridge across Brahmaputra river
 at
        Jogighopa.
 
 1996 - Based on applied R & D, the company has further improved the 
        tapered slipform system.  The R & D of the Company has also 
        designed a mini batching plant of capacities in the range of 3
 to
        5 cu. m. per hour.
 
 1998 - 43,27,680 rights shares allotted at Rs 10 per share (prem. Rs
 30 per share) 
              prop., 2:1 of which 95,680 No. of equity shares kept in
 abeyance.
 
 2000 - The Company has proposed sub-division of the company's shares
 from
               Rs 10 per share to Rs 1 per share.
 
            - The issued share capital of the company is 64,91,520 No.
 of equity shares of
               Rs 10 each.   The Company has decided to issue equity
 shares of Re 1 each
               at a premium of Rs 2 per share on rights basis in the
 ratio of 1:1.
 
 2002
 
 -Mr Ashok Kumar, Director expires.
 
 -Replaces Sandvik Asia in BSE-500 Index.
 
 -Sells part of its stake in Cochin Bridge Infrastructure Company Ltd,
 its subsidiary by reducing its stake from 97.66% to 51%.
 
 -Nouveaw Exports Pvt Ltd ceases to be the subsidiary  of the
 company.
 
 -Appoints Mr Rajul A Bhansali as the Executive Director on the Board
 of the company.
 
 -Reduces stake in both its subsidiaries M/s Gammon Nirman Ltd and M/s
 Gammon Turnkeys from 100% to 51%.
 
 
 2004
 
 -Gammon India Ltd. has informed about the demise of the Company's
 Director Mr. S Chakrabarti on January 28, 2004.
 
 -Gammon India wins order worth Rs 200 cr
 
 -Road Corridor Project of Rs 800 million consisting of Railway over
 Bridges (ROBs) linking Santacruz and Chembur, under Mumbai Urban
 Transport Project (MUTP), has been awarded to the company by MSRDC.
 
 2005
 
 -Sikkim govt signs MoU with Gammon India, Jalpahara Power Corp
 
 - Company has splits its Face value of Shares from Rs 10 to Rs 2
 
 2007
 
 -Gammon India signs up with Wyndham for Hotel business.
 
 2008
 
 -Gammon India Ltd has appointed Mr. Jagdish C Sheth and Mrs. Urvashi
 Saxena as Additional Directors of the Company.
 
 -Gammon India Ltd has informed BSE that Mr. Himanshu V Parikh,
 Whole-time Director whose term of office expired on April 30, 2008,
 has been re-appointed as Whole-time Director of the Company for a
 further period of 5 (Five) years effective from May 01, 2008.
 
 2009
 
 - Gammon India Ltd has informed that the Board of Directors of the
 Company at its meeting held on July 09, 2009, has appointed the
 following Directors:
 1. Mr. Atul Kumar Shukla has been appointed as an Additional Director
 (Non-Executive, Independent) of the Company w.e.f. July 09, 2009,
 subject to approval by Shareholders.
 2. Mr. D C Bagde has been appointed as an Additional Director
 (Executive, Non-Independent) of the Company w.e.f. July 09, 2009,
 subject to approval by Shareholders.
 
 - Gammon India Ltd's Wholly Owned Subsidiary, SAE Powerlines S.r.l.,
 Italy, has been awarded a power transmission project aggregating to
 USD 31 Million in Tanzania.
 
 2010
 
 - Gammon India Ltd has been awarded a contract by ISKCON
 (International Society for Krishna Conciousness), aggregating to Rs.
 137.28 crores for Construction of 'Sri Chaitanya Chandrodaya Mandir
 and Indian Educational & Cultural Centre' at Sri Mayapur, Dist:
 Nadia, West Bengal.
 
 
 2011
 
 - Gammon Bags Chennai Metro Contracts.
 
 - Gammon Subsidiary lights up Pallekele International Cricket Stadium
 at Sri Lanka.
 
 -Gammon India Ltd has informed BSE that Gammon-OJSC Mosmetrostroy has
 been awarded two prestigious contracts of Design and construction of
 underground stations and associated tunnels for Chennai Metro Rail
 Limited (CMRL) amounting to Rs. 1947 crores.
Source : Dion Global Solutions Limited
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