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India Gypsum > Company History > Miscellaneous > Company History of India Gypsum - BSE: 523066, NSE: INDGYPSUM
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India Gypsum
BSE: 523066|NSE: INDGYPSUM|ISIN: INE561A01013|SECTOR: Miscellaneous
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India Gypsum is not traded in the last 30 days
India Gypsum is not traded in the last 30 days
Company History - India Gypsum
YEAR                       EVENTS
 1985 - The company was incorporated on 5th February 1985 at New
 Delhi.
        It was promoted jointly by Hyderabad Industries Limited and
        BPB Industries plc., U.K.  The main object of the company is
 to
        manufacture Gypsum boards.
 
      - BPB India Ltd., a wholly owned subsidiary of BPB Industries
 plc.    
        and HIL were to participate to the extent of 40% each in the
        equity capital of the Company.
 
      - The company undertook to set up the project in Haryana for
 the
        manufacture of Gypsum boards, a fire resistant building
 material
        processing good heat insulation and accoustic properties.
 
      - The company entered into a technical collaboration agreement
 with  
        BPB Industries Plc. in UK. for transfer of technical
 know-how,
        training of Indian technicians both at home and abroad and
 for
        technical marketing assistance.
 
 1986 - 70 shares subscribed for by the signatories to the Memorandum
 of       
        Association, 44,99,930 shares were then issued at par out of
        which 18,00,000 shares to Hyderabad Industries Ltd. and
 18,00,000    
        shares to BPB India Ltd. were reserved and allotted.  Out of
 the
        remaining 8,99,930 shares, 1,80,000 shares were reserved for
        preferential allotment to employees and business associates
 but
        only 24,330 shares taken.  The balance 7,19,930 shares along
        with 1,55,670 shares not taken up by employees/business
        associates were offered for public subscription during
 December
        1988 (all were taken up).
 
 1989 - During Jan. & Mar. 1989, 45,00,000 rights shares issued at par
 in 
        Prop. 1:1 (only 40,54,973 shares taken up.  Remaining
 4,45,027
        shares devolved on underwriters).  Simultaneously another
        2,25,000 shares issued at par to employees.  None were taken
 up
        and it was allowed to lapse.
 
 1992 - The Company issued 60,00,000 No. of equity shares of Rs 10
 each
        at par on rights basis in the proportion 2:3.  All but, 3,000
        shares which were kept in abeyance, were allotted.
 
      - Another 3,00,000 shares of Rs 10 each were offered to the 
        employees.  Only 9,200 shares were taken up.  The remaining
        2,90,800 shares were allowed to lapse.
 
 1995 - Company's product Gypboard has been strongly established in
 the
        market.  Company's new products such as fire resistant boards
 and
        laminated ceiling tiles have made in roads into industrial
        segment.
 
 1996 - The Company is setting up projects for manufacture of Gypsum
        board on the outskirts of Chennai and Mumbai.
 
 1997 - The Company was in the process of setting up a Plant to
        manufacture Gupsum Board with an initial capacity of over 5
        million Sq. M. per annum near Chennai, Tamilnadu.
 
 1998 - Key personnel from Siemens Public Communication Networks Ltd,
        Tata Lucent Technologies Ltd. and India Gypsum Ltd. have
 received
        Clients of the Year, 1998 award from the Leadership
 Management
        International (LMI).
 
 1999 - The Haryana-based India Gypsum Ltd. (IGL), a joint venture
        between CK Birla Group and UK-based BPB Gypsum Plc, has
 decided
        to launch `Gyphome Centres' in major cities in the country to
        coincide with the company's foray into the housing sector.
 
      - IGL's first plant was set up at Jind, 150 km from Delhi, in
        1988 to produce 7 million sq m of gypsum board annually.
 
      - India Gypsum is the country's largest gypsum producer with an
        installed capacity of 70,000 mt of gypsum boards, and 6,700
 mt
        of gypsum-based accessories at Haryana.  While BPB Gypsum plc
 is
        world's largest gypsum producers.
 
 2000 - The Company has entered into a tripartite agreement with
 NSDL,
        CDSL and MCS Ltd.
 
 2002-India Gypsum Ltd has informed that Mr. S. Parthasarathy,
 President and Whole-time Director of the company, sought an early
 retirement .  A three member Management Committee has been appointed
 under the Chairmanship of Mr Mike Jones, with immediate effect, to
 supervise the overall management till such time, a new incumbent is
 able to take his place.
 
 - T S R K Lohit resigns from the Board of India Gypsum.
 
 2003 - Approved capital expenditure of Rs.367.43 million to build a
 gypsum plasters facility near Mumbai to be funded out of internal
 generations and existing credit facilities
 
 -Mr. K H Gangwal ceased to be a Director on the Board of the company
 due to his demise as on December 11, 2003.
Source : Dion Global Solutions Limited
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