YEAR                       EVENTS
 1983 - The company was incorported in 21st Feb, at Jaipur, Rajasthan.
 
        The company manufacturers polypropylene multifilament yarn. 
 The
        company was promoted by Gowri Shankar Poddar, Shiv Shankar
 Poddar
        and Om Prakash Kedia.
 
      - The company entered into an agreement with Cara Engineering
 chem.
        AG of Switzerland (Cora) for the supply of know how.  The
 process
        parameters for design of the plant to be supplied to the
 company
        by cora were based on the production plant of Delebro of
 Italy.
 
 1985 - 6,86,600 shares subscribed for by promoters, directors, their
        friends, etc.  18,63,400 shares then issued at par out of
 which
        4,13,400 shares were reserved and allotted to promoters,
        directors, etc.  Out of the remaining 14,50,000 shares, the
        following shares were reserved and allotted on a preferential
        basis: (i) 5,00,000 shares to NRIs on repatriation basis:
 (ii)
        72,500 shares to employees of the Company and (iii) 29,000
 shares
        to business associates.  The balance 8,48,500 shares were
 offered
        to the public in January 1986.  6,37,500 additional shares
        allotted to retain oversubscription (25,400 shares to
 employees
        and business associates; 1,25,000 shares to NRI to
 repatriation
        basis; 3,12,100 shares to the public and 1,75,000 shares to
        directors, their friends, etc.).
 
 1986 - The Company undertook the business of mining, transport and
        trading which yielded good results.
 
 1987 - The Company installed a draw-texturising machine for the
        manufacture of crimped yarn with a view to broad base its
 product
        range of 500 TPA capacity.
 
      - A letter of intent was received for the manufacture of 15,000
 TPA
        of polyester filament yarn.
 
 1989 - The expansion of capacity to 3,750 TPA was being implemented.
 
        The implementation of the Letter of Intent for producing
 12,250
        tonnes of synthetic filament yarn per year was decided to be
 done
        in a single phase and the project was expected to go on
 stream
        during 1992-93.
 
      - Discussions were being held with foreign collaborators for
        installing facilities for the manufacture of dyed chips and
 other
        pigments/additives for backward integration.
 
      - The Company proposed to set up a project for the manufacture
 of
        1000 TPA of polypropylene master batches.
 
 1991 - A new company was promoted under the name of Poddar Pigments
        Ltd., to set up a plant at Jaipur for production of 1,200 TPA
 of
        master batches for dope-dyeing the various speciality
 products,
        polypropylene, nylon, polyester and polyethelene.
 
      - Another project was being set-up in two phases in Tamilnadu
 for
        production of 20,000 tonnes of speciality polyester filament
        yarns like micro fibres, trilobal, cationic dyeable, dope
 dyed
        etc., with its own poly-condensation facilities.
 
 1992 - The company implementation the expansion plan to increase the
        capacity substantially from 2750 TPA to 6000 TPA.
 
      - An indegenous pilot plant for spinning and texturising was
 being
        designed and developed by the Company's R&D team.  This plant
 was
        proposed to be installed by 1992.
 
      - The Company issued 3,18,750-15% secured partly convertible
        debentures of Rs 245 each on rights basis in the proportion of
 1
        debenture: 10 equity shares held.  Additional, 47,812
 debentures
        were allotted to retain oversubscription.
 
      - The Company offered 33,468 Partly Convertible Debentures
        aggregating to Rs 819.99 lakhs for cash at par on Rights
 basis.
 
      - Another 15,938-15% partly convertible debentures of Rs 245
 each
        were offered to the employees.  Additional 2,390 debentures
 were
        allotted to retain oversubscription.
 
      - Part A of Rs 175 of each debenture was to be converted into 5
        equity shares of Rs 10 each at a premium of Rs 25 per share
 at
        the end of six months from the date of allotment.
 
      - Part B of Rs 70 of each debenture will be redeemed at par in
        three annual instalments at the end of 7th, 8th and 9th years
        respectively from the date of allotment.
 
      - The Company offered 33,468 Partly Convertible Debentures
        aggregating to Rs 819.99 lakhs for cash at par on Rights
 basis.
 
      - 12,000 No. of equity shares of Rs 10 each allotted on
 conversion
        of loan.
 
 1994 - The Company undertook the diversification cum expansion
 programme
        to increase the market share of the company.
 
      - The project to install the new capacity of 4750 TPA was in
        advance stage of implementation and the new capacity will
        commence production with effect from October, 1995.
 
      - The Company proposed to raise additional finance through the
        issue of equity shares on Rights basis in order to part
 finance
        the on going expansion/diversification programme.
 
      - 51,23,950 No. of equity shares issued as bonus shares in
 prop.
        1:1.
 
 1995 - 71,58,354 No. of equity shares of Rs 10 each for cash at a
 prem.
        of Rs 12 per share on Rights basis issued in prop. 7:10.