Rico Auto

YEAR                       EVENTS
 1983 - The Company was Incorporated on 1st February, at Jalandhar. 
 The
        Company was promoted by Arvind Kapur and Arun Kapur of the
 RICO
        Group of Companies.  The Company's object is to manufacture
 of
        automotive parts, tractor parts and auto electrical parts.
 
 1984 - 1,000 shares subscribed for by promoters etc. and 50 shares
 taken
        up by employees of the RICO group.
 
 1985 - 12,98,950 shares issued at par of which 4,16,450 shares to
        promoters, directors, etc. and 1,30,000 shares to HSIDC were
        reserved and allotted on a firm allotment basis.  Out of the
        remaining 7,52,500 shares, the following shares were reserved
 and
        allotted on a preferential basis:
 
      - (i) 65,000 shares to employees and
  
      - (ii) 15,050 shares to business associates of the Company. 
 The
        balance 6,72,450 shares were offered to the public in
 December.
        3,25,000 additional shares allotted to retain
 oversubscription
        (1,99,518 shares to public, 1,02,550 shares to promoters,
        directors, etc. and 22,932 shares to employees and business
        associates).
 
 1986 - The Company undertook to set up a project for the manufacture
 of
        rear hub wheels and front hub wheels as an ancillary unit to
        Hero Honda Motors Ltd.
 
 1987 - The Company commissioned its project for the manufacture of
        50,000 nos. gear oil pump for Maruti Udyog Ltd., 32,000 sets
 of
        frames and housing for Shriram Honda portable generator sets
 and
        1,20,000 rotor oil filters for Hero Honda.  
 
      - A letter of intent was received for the manufacture of valve 
        rocker arm, case differential and Retainer input shaft.
 
 1990 - With a view to further expanding its capacity, the Company 
        acquired land for setting up Unit-II near Gurgaon for
 manufacture
        of components for Maruti Cars as well as to set up
 specialised
        facilities for export market.
 
      - The Company proposed to undertake promotions of a new company
 
        RICO AGROILS LTD. (RAL) for setting up a solvent extraction
 unit 
        of over 300 TPD cost of Rs.9.50 crores was to use soyabean as
 the 
        main raw material.
 
 1991 - In addition, the Company's project for the manufacture of
 clutch
        friction disc in collaboration with F.C.C. Ltd., Japan was
        expected to go on stream by November/December.  The product
 was
        to serve import substitution.
 
 1992 - The Company had decided to promote Rico Agroils Ltd. (RAL)
 with
        our participation at 26% of the equity.
 
 1993 - The Company reached a landmark by being the first automobile 
        component manufacture to obtain the ISO 9002 certification
 from
        BIS.
 
      - Significant progress has been achieved in the setting up of a
 
        `state-of-the-art' Spheroidal Graphite (SG)/Grey Iron Foundry
 at 
        Gurgaon, Haryana with an installed capacity of 1200 TPA.
 
      - During October-November, the Company issued 8,12,500 - 17% 
        non-convertible Debentures of Rs.75 each with a detachable
        warrant with each debenture on Rights basis in prop. 1 deb :
 2
        equity shares held (all were taken up).  50 debentures were
 kept
        in abeyance.  Each warrant entitles the holder to apply for 1
        equity share of Rs.10 each at a prem. of Rs.30 per share
 between
        18 to 24 months from the date of allotment of debentures.
 
      - During October-November, the Company issued 1,80,000 No. of 
        equity shares of Rs.10 each at a prem. of Rs.30 per share on
        preferential basis to members of the promoter group of
 company.
 
      - 16,25,000 Rights equity shares of Rs.10 each issued (prop.
 1:1
        prem. Rs.30).  100 shares kept in abeyance.  1,80,000 shares
 of
        Rs.10 each allotted at a prem. of Rs.30 per share on private
        placement basis.
 
 1994 - The overall working was excellent due to the additional 
        capacities created in the expansion programme.
 
      - To cater to the stringent OE Standard and to develop
 intricate
        castings and components for present day generation
 automobiles,
        a development department was set up.
   
      - Hero Honda Ltd., would purchase 100% of their requirements
 from
        the company and the balance production would be supplied to
 other
        2 and 3 wheeler industries.
 
      - The Company took up a project for the manufacture of 4,00,000
 
        nos. per annum of clutches in technical collaboration with
 Fuji
        Chemical Co. Ltd. 
 
      - 10,00,000 No. of equity shares of Rs.10 each issued to
 promoters,
        their relatives etc. (Rs.3 per share called up).
 
      - The Company's Rights Issue of 18,05,000 (including
 preferential
        offer of 1,80,000 Equity Shares to promoters) to Rs.10/- each
 at
        a premium of Rs.30/- per share and 8,12,500, 17% Secured Non
        Convertible Debentures (NCDs) of Rs.75/- each wth detachable
        warrants was overwhelming.
 
 1995 - As a part of expansion cum diversification, the company
 proposed
        to set up a joint venture company with Daewoo Precesion 
        Industries Ltd., Korea as a single source OE supplier for
 Daewoo
        in India and to emerge as an OE supplier to Daewoo Car 
        manufacturing units in other countries as well.
 
      - 812,450 No. of equity shares (prem. Rs.30) allotted against
        conversion of warrants.
 
 1996 - The Company has entered into a JV agreement with Daewoo
 Precision
        Industries Ltd. (DPI), Korea, a leading auto component
        manufacturer within the Daewoo Group.
 
 1997 - The Company also entered into a Joint Venture Agreement with
 FCC
        Co. Ltd. the largest manufacturers of clutches in Japan and
 OEM
        supplier to such well known names as Honda, Yamaha and
 Suzuki.
 
 1998 - The Company is proposed to form an independent project to
        manufacture Dies & Moulds under the name of Rico Dies &
 Moulds
        Pvt. Ltd.
 
 1999 - The Gurgaon Plant has been accredited with the QS 9000
        Certification and Dhawhera Plant has been recommended for QS
 9000
        Registration as per 1998 Edition.  The QS 9000 Certification
 is a
        recognition of the march towards the globalisation of the
        Company's quality system management.
 
 2000 - The Company has signed the agreements for dematerialisation
 of
        the shares with NSDL and CDSL and appointed MCS Ltd.
 
      - Crisil has upgraded the BBB rating assigned to a Rs
 6.09-crore
        non-convertible debenture (NCD) issue of Rico Auto Industries
 to
        BBB+.
 
 2002
 
 -Board approves for the issue of Bonus Shares at the ratio of 1:1 
 
 -Board of Directors approve for the acquisition of Auto component
 Manufacturing Company in India and abroad.
 
 2003
 
 -Kapsons Associates Pvt Ltd acquires 40,399 shares amounting to 0.37%
 of the total paid up capital of the company.
 
 -Ford Motor Company selects Rico Auto Industries to participate in
 its Global supplier Development programme.
 
 -Board approves for the scheme of amalgamation of Rico softech.
 
 2004
 
 -Rico Auto Industries Board approves sale of Agro Division at Bundi
 
 -Rico Auto Industries Ltd has informed that the equity shares of the
 Company have been delisted from The Delhi Stock Exchange Association
 Limited (DSE) wef January 23, 2004.
 
 2005
 
 -High Court of Punjab & Haryana approves Amalgamation of Rico Softech
 Limtied with Rico Auto Industries Ltd