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Keerthi Industries
BSE: 518011|ISIN: INE145L01012|SECTOR: Cement - Mini
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Company History - Keerthi Industries
YEAR                       EVENTS
 1982 - The Company was Incorporated on 17th May, at Hyderabad (AP). 
 The
        Company was promoted by V.C. Brahmanna.  The Company's object
 is
        to manufacture ordinary portland cement.
 
 1985 - 880,000 shares taken up by promoters etc. and 420,000 shares
        allotted to APIDC.  1,500,000 shares then issued at par out
 of
        which 600,000 shares were reserved for pref. allotment to
 NRIs
        with repatriation rights.  Only 163,300 shares were taken up.
        The balance 900,000 shares along with 436,700 shares not taken
 up
        by NRIs were offered for public subscription during Sept. 
 Only
        675,600 shares were taken up.  The balance 661,100 shares
        devolved on the underwriters (321,735 shares on IDBI, 171,886
 
        shares on ICICI and 167,479 shares on IFCI).
 
 1988 - The plant could not be operated at full capacity due to power
 cut
        as high as 40%.
 
 1989 - The Company came under, the provisions of the Sick Industrial
        Companies (Sp. Provisions) Act. 1985 and as per its
 requirement a
        reference to the Board for Industrial and Financial
        Reconstruction was made.
 
 1990 - The Company installed one 1000 KVA DG set which was
 commissioned
        in January.
 
      - Financial Institutions approved a plan to expand the capacity
 to
        300 tonnes per day.
 
 1991 - 2,095,150 No. of equity shares allotted at par as rights and
 to
        employees.
 
 1992 - During February-March, the Company offered 18,00,000 rights 
        equity shares of Rs.10 each for cash at par in prop. 2:3 (all
        were taken up).  Additional 2,70,000 shares allotted to
 retain
        oversubscription.
 
      - Another 90,000 shares of Rs.10 each were offered to employees
 on
        an equitable basis. (only 25,150 shares taken up). 
 Unsubscribed
        64,850 shares were allowed to lapse.
 
 1994 - The Company entered into a marketing tie-up arrangement with
 the
        Associated Cement Companies Ltd. to sell the company's
 products 
        in the neighbouring states of Tamil Nadu, Karnataka,
 Pondicherry
        and Maharashtra.
 
      - The Company proposed to enhance the capacity of Rotary Kiln
 mini
        plants to 600 tonnes per day with the support of financial
        institutions.
 
 2005
 
 -Company has changed its name from Suvarna Cements Ltd. to Keerthi
 Industries Ltd. 
 
 2008
 
 -The Company have created Email ID exclusively for the purpose of
 registering compliants by investors.                                 
                   
                                                        
 
Source : Dion Global Solutions Limited
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