Election 2014
SENSEX NIFTY
Jhagadia Copper > Company History > Metals - Non Ferrous > Company History of Jhagadia Copper - BSE: 504920, NSE: SWIL
YOU ARE HERE > MONEYCONTROL > MARKETS > METALS - NON FERROUS > COMPANY BACKGROUND - Jhagadia Copper
Jhagadia Copper
BSE: 504920|NSE: SWIL|ISIN: INE666A01028|SECTOR: Metals - Non Ferrous
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
Jhagadia Copper is not traded in the last 30 days
Jhagadia Copper is not traded in the last 30 days
Company History - Jhagadia Copper
YEAR                       EVENTS  
 1962 - The Company was incorporated on 3rd March, at Calcutta.  Mr S
 N
        Khaitan promoted the company.  The company is engaged in the
        manufacture of fourdrinier wirecloths (FWC), five-gauge
 wires,
        wire rods, dandy rolls & synthetic FWC.
 
 1982 - The Company undertook a new project for the manufacture of
 copper
        alloy strips of various compositions and thickness at Nasik
 in
        Maharashtra State.  The Company received a licence for the
        manufacture of nickel silver strips, brass strips and
 phosphor
        bronze strips of 450 tonnes, 1,800 tonnes and 150 tonnes per
        annum respectively.
 
 1984 - With effect from 26th May, the name of the Company was changed
 to
        Swil Ltd. from Shalimar Wires & Industries, Ltd.
 
      - In August, 5,45,000 No. of equity shares issued (prem. Rs 2
 per
        share);  1,70,000 shares reserved and allotted to promoters,
 etc.
        and 3,75,000 No. of equity shares offered to the public. 
 Pref.
        shares redeemed.
 
 1985 - The Company revalued the land, buildings, plant and machinery
 at
        Uttarpara and its wire unit at Nasik as on 31st December.
 
      - The Object of the Public Issue was made with a view to
 provide
        part of the finance required for setting up the Company's
 plant
        at Nasik for the manufacture of copper alloy strips and for
        meeting the expenses of this issue.
 
      - 6,167 No. of shares issued (prem. Rs 2 per share) to
 financial
        institutions on conversion of loans.
 
 1987 - The Company received a letter of intent for the manufacture
 of
        250 tonnes of fine stainless steel wires for weaving at its
 unit
        at Nasik.  Technology double for layer fabrics was installed.
 
      - Approval for change in the nomenclature of item of manufacture
 in
        the company's industrial licence from phosphor bronze strip
 and
        brass strip to copper and copper alloy strips was obtained.
 
      - A heavy machine building division at Uttarpara was set up for
        designing and fabricating heavy machinery.
 
 1988 - 8,65,833 right equity shares issued at par in prop. 1:2.
 
 1989 - Government approval was received for the Company's
 collaboration
        agreement with Sinclair International U.S.A. for upgradation
 of
        Dandy rolls, dandy brackets, water showers etc.
 
      - 27,750 No. of equity shares allotted to ICICI in conversion
 of
        loans.
 
 1990 - Technology for improved design and quality of dandy rolls was
        installed.  The company undertook a
 modernisation-cum-expansion
        programme of its Uttarpara and Nasik Units.
 
      - The Company has received letters of intent for the manufacture
 of
        copper, zinc and lead from secondary process.
 
      - The Company issued 2,00,000-14%.  Non-convertible debentures
 of
        Rs 100 each to Unit Trust of India and Life Insurance 
        Corporation of India on private placement basis.
 
 1991 - During December, the Company issued 13,12,625-14% partly
        convertible debentures of Rs 100 each on rights basis in the
        propn. 1 debenture : 2 equity shares held.  Additional
 1,96,894
        debentures were allotted to retain oversubscription.
 
      - Another 65,631-14% partly convertible debentures were issued
 to
        employees of the Company on an equitable basis.  Additional
 9,844
        debentures were allotted to retain oversubscription.
 
      - Simultaneously with the above issue, the Company also issued
        6,87,375-14% partly convertible debentures of Rs 100 each
 through
        a prospectus of which 2,06,208 debentures were issued on
        preferential basis as follows:
 
      - (i) 1,71,840 debentures to shareholders of Anil Steel and
        Industries Ltd. (ASIL) and Sunil Synchem Ltd. (SSL) (all were
        taken up).
 
      - (ii) 34,368 debentures to the employees of the Company (all
 were
        taken up).
 
      - The remaining 4,81,167 debentures were issued to the public.
        Additional 1,03,106 debentures were allotted to retain
        oversubscription.  (25,776 debentures to shareholders of ASIL
 and
        SSL; 5,155 debentures to employees of the Company and 72,175
        debentures to the public).
 
      - Part A of Rs 70 of each debenture was to be converted into 2
        equity shares of Rs 10 each at a premium of Rs 25 per share
 at
        the end of six months from the date of allotment.
 
      - Part B of Rs 30 of each debenture was to be redeemed in 3
 equal
        instalments of Rs 10 each on expiry of 7th, 8th and 9th years
        from the date of allotment.
 
 1992 - The International Business Division was set up.
 
 1993 - Similar programme alongwith balancing programme was undertaken
 at
        Barotiwala in Himachal Pradesh.
 
      - Effective 1st April, the Company had taken on lease Pawmi
 Paper
        Mills and took several steps to improve its operations.
 
      - The Company issued 6,00,000-19% secured redeemable
        non-convertible debentures of Rs 100 each on private
 placement
        basis with financial institutions.  These are redeemable from
 the
        end of 6th year till the end of 8th year from the date of
        allotment of debentures i.e. on 19.7.1997.
 
      - 47,50,888 No. of equity shares were allotted at a prem. of Rs
 25
        per share in part conversion of 14% debs.  62 shares yet to
 be
        allotted.
 
 1995 - One more 20 Hi Mill was installed at Nasik.  The Company had
        already entered into an agreement with MIM technology and
        Marketing Ltd. for process licence.
 
 1996 - The Company undertook to instal certain balancing plant &
        equipment for synthetic division.  One HP 200 loom and
 necessary
        seaming machines was procured.
 
      - At Nasik one off line milling machine, one 2H1 BD Mill and
 One
        Schler Slitter were installed with a view to increase
        productivity.
 
      - The Copper project cost at Jhagadia Industrial Estate,
 Bharuch,
        Gujarat was increased mainly due to increase of captive power
        plant.
 
      - The Company issued 65,56,568-15% fully convertible debentures
 of
        Rs 90 each on rights basis in the proportion 8 FCD:9 equity
        shares held.
 
      - Each debenture was converted into 3 equity shares of Rs 30
 each
        at a premium of Rs 20 per share between 12-18 months from the
        date of allotment.  Accordingly 196,69,704 No. of equity
 shares
        were allotted.
 
 1997 - The Company increased its capacity at Barotiwala by installing
 a
        40 cubic meter digestor.  At Uttarpara, the company installed
        plant & equipments for production of spirally linked canvas
 used
        in drying zone of paper machine and pollution control.
 
      - The company has a technical collaboration with Tantmet Oy of 
        Finland for manufacture of Double layer fabrics.  A similar 
        agreement for upgradation of Dandy rolls, dandy brackets, etc.
 
        was entered into with Sindair International of USA.
 
 2001
 -Sterlite, Indo Gulf, SWIL join hands for copper use promotion
 
 2002
 
 -Refinery section of the Copper Smelter project was cold commissioned
 on May 17, 2002
 
 2003
 
 -Shri PP Vora as nominee Director on the Board of the Company to
 represent Life Insurance Corporation of India in Place of Shri NP
 Bali.
 
 Shri K Narasimha Murthy, has resigned as Chairman and Director from
 the Board of the Directors of the Company.
 
 -SWIL enters MOU with MSTC for getting supply of raw material
 
 2004
 
 -SWIL Ltd has informed that at the Annual General Meeting held on
 December 12, 2003, the shareholders have approved delisting of shares
 from Ahmedabad, Calcutta, Delhi, Madras, Uttar Pradesh and Jaipur
 Stock Exchanges.
 
 -Starts stage-wise Hot Commissioning of its 50,000 TPA Copper Cathode
 project starting with commissioning of Anode Furnace on January 23,
 2004
 
 -Starts production at its 70,000 tonne a year copper smelter in
 Gujarat after a six-year delay
 
 -Swil Ltd on August 14, 2004, Shri Rajendra K. Mittal, Whole Time
 Director & CEO redesignated and appointed as Managing Director & CEO
 from August 14, 2004 to August 13, 2007 subject to approval of the
 Shareholders and Central Government.
 
 
 2006
 
 -Jhagadia Copper Ltd has informed that Life Insurance Corporation has
 nominated Shri.
 R K Rawat as its nominee director on the Board of the Company w.e.f.
 September 05, 2006.
 
 -Company has changed its name from Swil Ltd. to Jhagadia Copper Ltd. 
                                                      
                                                                   
 2010
 
 - Jhagadia Copper Ltd has vide letter dated February 05, 2010
 appointed with immediate effect i.e. from February 05, 2010, Shri N.
 K. Choubey as its Nominee Director on the Board of Directors of the
 Company.
 
 - Jhagadia Copper Ltd has informed that Shri A. U. Katra, General
 Manager of IDBI Bank Ltd. has been nominated as its Nominee Director
 on the Board of Directors of the Company vide their letter dated May
 24, 2010 w.e.f. May 31, 2010.
Source : Dion Global Solutions Limited
Quick Links for Jhagadia Copper
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.