Omax Auto Ltd. was incorporated in 1983. It is a member of Munjal
group companies in the auto ancillary industry. It has a very broad
customer base and supplies products to Maruti Udyog, Hero Honda,
Escorts Bharat seats and other leading manufacturers of automobile
industry. The company has also started supplying to SRF, Nippon
Denro, Carrier Aircon and Eisher Mitsubishi on regular basis.
The company has plans to set engine valve project costing Rs. 3 crore
for the manufacture and supply of valves to automobile manufacturers
in the country and for the export market.
-Assigned a rating of A1+ for its commercial paper programme by ICRA
-Approves to raise the capital of the company by way of public issue
of Equity shares upto Rs 600 million (inclusive of premium) to meet
the capital expenditure incurred / to be incurred and short fall in
Considered and approved the Amalgamation of M/s Indital Tintoria Ltd
with the Company including the scheme of amalgamation, valuation
Report & Fixation of Exchange Ratio
- Underwriters Laboratories Inc USA has recommended ISOTS 16949
certificate for two units of the company. The company has also signed
an agreement with Delphi Automotive Systems for exports of auto
-Considered and approved the following matters:
1.Setting up of a new unit of the Company at Bangalore
2. Resignation of Mr Brijmohan Lal Munjal, Chairman & Director of the
Omax Autos Limited has informed regarding the following:
1) The company has got LOI from Tenneco Automotive USA for supplying
of auto parts.
2) The Gurgaon plant & IMT Manesar plant have got ISO/TS 16949:2002
certificate from M/s. Underwriters Laboratories Inc. USA.
3) The company has got approval for convening the AGM till October
31, 2003 from Registrar of Companies, New Delhi.
-Intimated of the intention of the promoters of the company to divest
approximately 18% being 20,00,000 shares from their collective holding
of 57.45% of the paid up equity capital of the company in the open
-Received intimation from CITI Bank, N.A. that their client -
Grantham A/c GMO Emerging
Markets Fund has acquired 14,30,920 (7.39%) equity shares, of Rs.10/-
each, of the Company.
-Omax Autos Ltd has entered into a Memorandum of Understanding (MOU)
with PSP Co., IRAN to set up two J.V. Companies one in India and the
other in Iran for exploring the possibilities to expand the Business
of manufacturing Auto Parts.
-Omax Autos has recommended dividend @ 15%
- Mr. Sharad Jain has been appointed as CFO of the Company
-Omax Autos has recommended a final dividend of Re. 1.50/- per equity
share of Rs. 10/- each fully paid-up (i.e. 15%)
-Mr. Puspendra Kumar Bansal, Chartered Accountant has been appointed
as Chief Financial Officer (CFO) of the Company
-Mr. Sanjeev Kumar has been appointed as Company Secretary and
Compliance Officer of the Company
-Omax Autos, commercial production has been started in the new Plant
of the Company situated at Uttarakhand
-Omax Autos has recommended a final dividend of Rs. 2.00/- per equity
share of Rs. 10/- each