1962 - The Company was incorporated on 3rd March, at Calcutta. Mr S
Khaitan promoted the company. The company is engaged in the
manufacture of fourdrinier wirecloths (FWC), five-gauge
wire rods, dandy rolls & synthetic FWC.
1982 - The Company undertook a new project for the manufacture of
alloy strips of various compositions and thickness at Nasik
Maharashtra State. The Company received a licence for the
manufacture of nickel silver strips, brass strips and
bronze strips of 450 tonnes, 1,800 tonnes and 150 tonnes per
1984 - With effect from 26th May, the name of the Company was changed
Swil Ltd. from Shalimar Wires & Industries, Ltd.
- In August, 5,45,000 No. of equity shares issued (prem. Rs 2
share); 1,70,000 shares reserved and allotted to promoters,
and 3,75,000 No. of equity shares offered to the public.
1985 - The Company revalued the land, buildings, plant and machinery
Uttarpara and its wire unit at Nasik as on 31st December.
- The Object of the Public Issue was made with a view to
part of the finance required for setting up the Company's
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
institutions on conversion of loans.
1987 - The Company received a letter of intent for the manufacture
250 tonnes of fine stainless steel wires for weaving at its
at Nasik. Technology double for layer fabrics was installed.
- Approval for change in the nomenclature of item of manufacture
the company's industrial licence from phosphor bronze strip
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
agreement with Sinclair International U.S.A. for upgradation
Dandy rolls, dandy brackets, water showers etc.
- 27,750 No. of equity shares allotted to ICICI in conversion
1990 - Technology for improved design and quality of dandy rolls was
installed. The company undertook a
programme of its Uttarpara and Nasik Units.
- The Company has received letters of intent for the manufacture
copper, zinc and lead from secondary process.
- The Company issued 2,00,000-14%. Non-convertible debentures
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
debentures were allotted to retain oversubscription.
- Another 65,631-14% partly convertible debentures were issued
employees of the Company on an equitable basis. Additional
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
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
- (ii) 34,368 debentures to the employees of the Company (all
- 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
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
the end of six months from the date of allotment.
- Part B of Rs 30 of each debenture was to be redeemed in 3
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
Barotiwala in Himachal Pradesh.
- Effective 1st April, the Company had taken on lease Pawmi
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
basis with financial institutions. These are redeemable from
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
per share in part conversion of 14% debs. 62 shares yet to
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
seaming machines was procured.
- At Nasik one off line milling machine, one 2H1 BD Mill and
Schler Slitter were installed with a view to increase
- The Copper project cost at Jhagadia Industrial Estate,
Gujarat was increased mainly due to increase of captive power
- The Company issued 65,56,568-15% fully convertible debentures
Rs 90 each on rights basis in the proportion 8 FCD:9 equity
- Each debenture was converted into 3 equity shares of Rs 30
at a premium of Rs 20 per share between 12-18 months from the
date of allotment. Accordingly 196,69,704 No. of equity
1997 - The Company increased its capacity at Barotiwala by installing
40 cubic meter digestor. At Uttarpara, the company installed
plant & equipments for production of spirally linked canvas
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.
-Sterlite, Indo Gulf, SWIL join hands for copper use promotion
-Refinery section of the Copper Smelter project was cold commissioned
on May 17, 2002
-Shri PP Vora as nominee Director on the Board of the Company to
represent Life Insurance Corporation of India in Place of Shri NP
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
-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
-Starts stage-wise Hot Commissioning of its 50,000 TPA Copper Cathode
project starting with commissioning of Anode Furnace on January 23,
-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.
-Jhagadia Copper Ltd has informed that Life Insurance Corporation has
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.
- 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
- 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.