1982 - The Company was Incorporated on 17th May, at Hyderabad (AP).
Company was promoted by V.C. Brahmanna. The Company's object
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
which 600,000 shares were reserved for pref. allotment to
with repatriation rights. Only 163,300 shares were taken up.
The balance 900,000 shares along with 436,700 shares not taken
by NRIs were offered for public subscription during Sept.
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
as high as 40%.
1989 - The Company came under, the provisions of the Sick Industrial
Companies (Sp. Provisions) Act. 1985 and as per its
reference to the Board for Industrial and Financial
Reconstruction was made.
1990 - The Company installed one 1000 KVA DG set which was
- Financial Institutions approved a plan to expand the capacity
300 tonnes per day.
1991 - 2,095,150 No. of equity shares allotted at par as rights and
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
- Another 90,000 shares of Rs.10 each were offered to employees
an equitable basis. (only 25,150 shares taken up).
64,850 shares were allowed to lapse.
1994 - The Company entered into a marketing tie-up arrangement with
Associated Cement Companies Ltd. to sell the company's
in the neighbouring states of Tamil Nadu, Karnataka,
- The Company proposed to enhance the capacity of Rotary Kiln
plants to 600 tonnes per day with the support of financial
-Company has changed its name from Suvarna Cements Ltd. to Keerthi
-The Company have created Email ID exclusively for the purpose of
registering compliants by investors.