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Lloyds Metals and Energy
BSE: 512455|NSE: LLOYDMETAL|ISIN: INE281B01024|SECTOR: Steel - Sponge Iron
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Company History - Lloyds Metals and Energy
YEAR                       EVENTS
 1977 - Llyods Metals & Engineers Limited (LMEL) was incorporated on
 5th
        April, as a Private Ltd. Company in the name of Nagarjuna
 Metals
        and Engineers Private Ltd.  The company was converted into a
        Public Ltd. Company on 9th September 1986.  The Company is
 having
        Manufacturing facilities for fabricating S.S. Patta with a
        capacity of 1,800 tpa. and 10,000 tpa. for fabrication of    
 
        equipments etc.  The company was promoted by R.N. Gupta.
 
 1987 - LMEL obtained the licence to manufacture 12,000 tpa. of C.R.
        Strips.
 
 1990 - The name of the company was changed to the present one on 5th
        January.
 
 1991 - The company commissioned additional 4-Hi cold rolling mill
        thereby increasing the installed capacity of the plant from
        12,000 tpa. to 46,000 tpa.
 
 1993 - 900 No. of Equity shares subscribed for by signatories to the
        Memorandum of Understanding.  50,05,000 shares allotted to
 the
        promoters.
 
 1994 - 50,05,900 bonus shares issued in prop. 1:1.
 
 1995 - The Sponge iron division's profitability was affected by non
        availability of higher transportation cost.  It proposed to
        undertake an iron ore mining project, construction of railway
        sidings and setting up captive power plant by using the
 energy
        generated from waste gases produced in the process of making
        sponge iron.
 
      - During September the Company's coal based sponge iron plant
 at
        Ghugus in Chandrapur district having a capacity of 1,50,000
 tpa.
        in the first phase was commissioned.  This was to meet the
 raw
        material requirements of the Lloyds Steel Industries situated
 at
        Wardha.  This backward integration plan was an addition to
 the
        groups forward integration plan for producing value added CR
 &
        galvanised sheets.
 
      - During Feb. the Company issued 66,41,750 No. of equity shares
 of
        Rs 10 each at a prem. of Rs 140 per share as follows:
 
      - (i) 25,02,900 shares on rights basis at a prem. of Rs 140 per
        share.
 
      - (ii) 41,38,800 shares through prospectus at a prem. of Rs 175
 per
        share as follows on firm allotment basis: (a) 1,00,000 shares
 to
        IDBI, (b) 2,00,000 shares to UTI, (c) 50,000 shares to
 Industrial
        Bank Ltd. (d) 2,25,000 shares to Indian Mutual Funds, (e)
        4,00,000 shares to NRIs.
 
      - Of the remaining, following were issued on preferential
 basis.
        (a) 53,600 shares to employees, (b) 4,13,800 shares to
        residential shareholders of Group companies.  Balance
 26,96,400
        shares issued to the public.
 
 1996 - The sponge iron division undertook the wake of the second
 phase
        to double the sponge iron plant capacity.
 
 1997 - Lloyds Metals was set up as part of the backward integration
 of
        Lloyds Steel into sponge iron.
 
      - The company has been awarded a mining lease of 450 hectares
 at
        Gadchiroli (Maharashtra).
 
 1998 - The Credit Analysis and Research Ltd (CARE) has downgraded
 Lloyds
        Metals & Engineering Ltd's (LMEL) three non-convertible
 debenture
        issues (NCDs) from A-to BB.  The rating has been downgraded
 from
        strong to default category.
 
 1999 - Sponge Iron Division Energy conservation survey has been
 carried
        out by Petroleum Research Institution.  Accordingly cooling
        towers fan metallic blades have been replaced with fiber
 blades
        to reduce power consumption of the fans.
 
      - Sponge Iron Division has been successful in completely
 absorbing
        the technology obtained indigenously.
 
 2007
 
 - The Company has splits its face value from Rs10/- to Rs2/-.
 
 2008
 
 -Lloyds Metals & Engineers Ltd has appointed Mr. B B Chadha as
 Additional Independent Director with effect from this Board meeting
 i.e. July 28, 2008.
 
 -Lloyds Metals & Engineers Ltd has informed that as per intimation
 received from IDBI Bank Ltd. Smt. V M Bharathy has been appointed as
 Nominee Director of IDBI Bank Ltd w.e.f. September 08, 2008, in place
 of Mr. D K Kambale.
 
 
 2009
 
 - Shri. J S Charlu as Additional Director.
 
 --Registered Office of the Company has been shifted from Plot No. A -
 9 & 10, MIDC Phase II, Dombivli (East), Dist - Thane, 421 201,
 Maharashtra to Plot No. A 1-2, MIDC Area, Ghugus, Dist. Chandrapur,
 442 505, Maharashtra, 
 
 2011
 
 -Company has changed its name from Lloyds Metals & Engineers Ltd. to
 Lloyds Metals & Energy Ltd.                                          
      
                                             
Source : Dion Global Solutions Limited
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