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Shanthi Gears
BSE: 522034|NSE: SHANTIGEAR|ISIN: INE631A01022|SECTOR: Engineering
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Company History - Shanthi Gears
YEAR                       EVENTS
 1972 - In 1969, Shanthi Engineering and Trading Company was promoted
        by Shri Subramaniam as a partnership firm in Coimbatore for
 the
        manufacture of gear products.  In 1972, a private limited  
        company, Shanthi Gear Products Pvt. Ltd., was incorporated &
        tookover the partnership firm.  The name was changed to
 Shanthi
        Gears Pvt. Ltd. in February 1986.  On 10th March, 1986, it
 was
        converted into a public limited company.  The two divisions
 of
        the company are the Gears Division and the Gear Box Division.
 
      - Gears Division caters to the needs of textile and other
        industries as the supplier of original equipment and Gear Box
        undertakes the design and manufacture of gear boxes for
 various
        industries.  The Company is licensed to manufacture 96,000
 nos.
        of gear wheels and 3,000 nos. of gear boxes.
 
      - The main objective of the company include the design and the
        manufacture of industrial gears and gear boxes.
 
 1984 - Till date 410 shares issued without payment in cash during
 1972
        as consideration for the take over of the business of the 
        partnership firm Shanti Engineering & Trading Company.  2,000
        No. of equity shares issued as bonus shares in proportion 1:1
 in
        1982.
 
 1985 - Equity shares subdivided. 3,20,000 bonus equity shares of Rs.
 10
        each then issued in proportion 8:1 and these were allotted on
        10.3.1986.  6,40,000 No. of equity shares of Rs. 10 each then
        issued at par out of which 2,40,000 shares to promoters,
        directors, etc., and 32,000 shares to employees (including
 Indian
        working directors)/workers of the company were reserved for
        preferential allotment.  All except the employees quota
 shares
        was taken up.  The balance shares along with 32,000 shares
 not
        taken up by the employees were offered for public
 subscription
        during May 1986.  1,00,000 additional shares allotted to the 
        public to retain oversubscription.
 
 1986 - In the company was negotiating collaboration agreement with a
 few
        manufacturers abroad (Belgium, U.S.A. and Japan) for the
        manufacture of helical gear boxes.
 
 1987 - During the Company privately placed with SBI Capital Markets
        Ltd., 45,000-14% secured non-convertible debentures of Rs.
 100
        each.  These debentures are redeemable at a premium of 5% at
 the
        end of the 7th year from the allotment date, i.e., 25th
 January,
        1989.
 
 1989 - During the Company implemented a modernisation/expansion
        programme with the assistance of term loans from SBI, IDBI as
        also from internal accruals.
 
 1991 - During the Company issued 3,30,000 - 17% partly convertible 
        debentures of Rs. 100 each on Rights basis.
 
      - Part `A' of Rs. 60 was converted into one equity share of Rs.
 10
        each at a premium of Rs. 50 per share on 11th December 1992. 
        Accordingly 3,30,000 shares allotted.
 
      - Part `B' of Rs. 110 of each debenture was to be redeemed at
 par
        in 3 instalments of Rs. 30, Rs. 35 and Rs. 35 each at the end
 of
        6th, 7th and 8th year respectively from date of allotment.
 
      - As per the approval accorded on 20th May 1994, the promoters
 took
        up 60,000 warrants and further surrendered the same the
 exchange
        of 6,00,000 equity shares at the rate of Rs. 7.50 per share
 on
        31st October 1994.
 
      - Shanthi Sales Pvt. Ltd., is a wholly owned subsidiary.  This 
        subsidiary is the sole selling agent of the Company's
 products
        and is retained as selling agent by a few other
 manufacturers.
 
 1993 - The Company has issued 17% Partly Convertible Debenture of Rs
 
        160/- each for Rs. 528 lakhs.
 
 1994 - 3,40,000 No. of Equity shares issued on preferential basis.
        17,70,000 bonus equity shares issued in propn. 1:1.  6,00,000
        shares allotted on preferential basis.
 
 1995 - Equity shares fully paid-up.
 
 1996 - 17,600 shares allotted to the members of Shanthi non-Ferrous 
        castings (P) Ltd. as per the scheme of amalgamation.
 
 1997-99 - NO NEWS
 
 2000 - Crisil has upgraded the A+ rating assigned to the Rs
 2.31-crore
        NCD issue of Shanthi Gears to AA-.
 
 2002-The Board of Directors of Shanthi Gears at its meeting held
 today July 24, 2002 has appointed Ms S Sangeetha as Whole Time
 Director.
 
 2004
 
 -Shanthi Gears Ltd has informed that the Company's equity shares have
 been delisted from Madras Stock Exchange Limited w.e.f. November 28,
 2003.
 
 -Shanti Gears Ltd shares delisted from Coimbatore Stock Exchange Ltd
 w.e.f March 31, 2004
 
 - Shanti Gears forays into heavy gears segment
 
 2008
 
 -Shanthi Gears Ltd has informed that ICRA has assigned LAA / A1+
 rating to the bank Limits of the Company.
 
 -The Company has recommended 120% Dividend.
 
 2009
 
 -The Comapny has recommended a Dividend of Rs 1.20 per equity share
 of Re 1 each (120%).
 
 -Re-appointed Dr. D Padmanaban & Ms. S Sangeetha as Directors of the
 Company.
 
 2010
 
 -Sri. C. G. has been appointed as additional Director of the
 Company.
 
 -The Company has appointed Mr. A. M. Alagiriswamy as a Director of
 the Company.
 
 -The Company has recommended a Dividend of Rs. 0.80 per equity share
 of Re. 1 each (80%).
 
 2011
 
 -The Company has recommended a dividend of Re. 1 per equity share of
 Re. 1 each (100%).
 
 2012
 
 -The Company has recommended a Dividend of Re. 1 per equity share of
 Re. 1 each (100%).
  
Source : Dion Global Solutions Limited
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