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Videocon International
BSE: 500947|NSE: VDOCONINTL|ISIN: INE341A01010|SECTOR: Consumer Goods - Electronic
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Videocon International is not traded in the last 30 days
Company History - Videocon International
1985 
 
 - The Company was incorporated on 19th January.  It was promoted by
 Nandlal M. Dhoot and his sons.  The Company manufacture colour
 television sets, television components, airconditioners and other
 cabinets.
 
 - The Company undertook to set up a project for the manufacture of
 1,00,000 Nos. per annum of colour television sets, 2,00,000 nos. 
 per
 annum of electronic tuners and 2,00,000 nos. per annum of extra high
 tension transformers.
 
 1987 
 
 - 70 No. of equity shares subscribed for by the signatories to
 Memorandum.  2,49,930 No. of equity shares then issued at par of
 which
 9,99,930 share reserved and allotted to the promoters, Indian
 resident
 directors, etc.  Of the balance of 15,00,000 No.  of equity shares.
 1,20,500 shares were reserved and allotted on a preferential basis
 to
 the employees (including Indian working directors) workers of the
 Company and those of promoters companies.  The remaining 13,79,500
 shares offered and allotted to the general public (Public offer in
 October, 1987).
 
 1989 
 
 - The Company undertook to set up facilities for the assembly and
 packaging of integrated circuits from imported diffused wafers and
 the
 manufacture of black & white television at Aurangabad in
 Maharashtra.
 
 - The Company also undertook to set up a centralised tool room and
 injection moulding facilities at Aurangabad and 25 services centres
 at
 various locations in the country.
 
 - The Company issued 15,00,000 - 12.5% secured convertible
 debentures
 of Rs 200 each of which 6,25,000 debentures were offered to the
 equity
 shareholders on `Rights' basis in the proportion 1 debenture: 4
 equity
 shares. (all were taken up).  Additional 93,750 debentures were
 allotted to retain oversubscription.
 
 - The Balance 8,75,000 debentures were issued through prospectus to
 the
 following on preferential allotment basis:
 
 - (i) 3,00,000 debentures to ICICI, UTI, LIC and GIC
 
 - (ii) 1,25,000 debentures to mutual funds and
 
 - (iii) 75,000 debentures to employees/workers of the company.  The
 remaining 3,75,000 debentures along with 50,000 debentures not taken
 up
 by the employees were allotted to the public.  Additional 1,30,000
 debentures were allotted to retain oversubscription (56,250
 debentures
 to the public and 73,750 debentures to the financial institutions
 and
 mutual funds under preferential quota).
 
 - With the issue of convertible debentures, the company also issued
 6,00,000 - 14% secured redeemable non-convertible debentures of Rs
 100
 to the public.  These debentures are to be redeemed at par in 3
 annual
 instalments of Rs 30, Rs 35 and Rs 35 at the end of the 6th, 7th and
 8th year respectively from the date of allotment of debentures.
 
 - The face value of Rs 200 of each debenture was made of three parts
 viz., Part I of Rs 25, Part II of Rs 50 and Part III of Rs 125.
 
 - Part I was automatically and compulsorily converted into 1 equity
 share of Rs 10 each at a premium of Rs 10 per share after 6 months
 from
 the date of allotment i.e. in February 1990.
 
 - Part II was automatically and compulsorily converted into 1 equity
 share of Rs 10 at a premium of Rs 40 per share after the expiry of
 18
 months from the date of allotment of debentures i.e.  in 1991.
 
 - Part III was automatically and compulsorily converted into 2
 shares
 of Rs 10 each at a premium of Rs 52.50 per share during 1992.  
 
 1991 
 
 - The diversification projects were implemented during the year (i)
 8,00,000 nos. per annum of black and white picture tubes; (ii)
 10,00,000 nos. per annum of audio tape deck mechanism; (iii)
 10,00,000
 nos. per annum of potentiometers; (iv) 5,00,000 nos. per annum of
 loud
 speakers; (v) 10,00,000 nos. per annum of electronic connectors and
 (vi) 100 million nos. per annum of capacitors.
 
 - During February-March, the Company offered 11,86,790 - 12.5%
 secured
 fully convertible debentures of Rs 220 each on Rights basis in the
 proportion 1 debentures: 5 Equity shares held.  Additional 1,78,010
 debentures allotted to retain oversubscription.
 
 - The Company issued 8,58,665 - 12.5% secured fully convertible
 debentures of Rs 220 each through a prospectus of which 1,02,272
 debenture were issued to the employees/workers of the Company.
 Additional 15,338 debentures allotted.  The remaining 7,56,393
 debentures were issued to the public.  Additional 1,28,797
 debentures
 were allotted to retain oversubscription.
 
 - Rs 110 of the face value of each debenture was automatically and
 compulsorily converted into one equity share of Rs 10 each at a
 premium
 of Rs 100 per share on the expiry of 6 months from the date of
 allotment of debentures.  The remaining Rs 100 of the face value of
 each debenture was also automatically and compulsorily converted
 into
 one equity share of Rs 10 each at a premium of Rs 100 per share on
 the
 expiry of 18 months from the date of allotment of debenture.
 
 1992 
 
 - The Company issued 70,51,100 Right Equity shares of Rs 10 each for
 cash at a premium of Rs 110 per share in proportion 1:4.
 Simultaneously, the Company issued 54,48,900 No. of equity shares of
 Rs
 10 each for cash at a premium of Rs 110 per share and 125,00,000
 secured bonds of Rs 40 each with detachable warrant through a
 prospectus as follows:
 
 - (i) 13,62,225 No. of equity shares to promoters, friends and their
 relatives
 
 - (ii) 2,72,445 shares to employees
 
 - (iii) 31,25,000 bonds to promoters, directors etc.  Balance
 38,14,230
 shares along with 2,32,370 shares not taken up by employees were
 issued
 to the public.
 
 - Of the bonds 31,25,000 bonds were reserved for allotment to the
 promoters, friends etc.  Balance 93,75,000 bonds were issued to the
 public (all were taken up).
 
 1994 
 
 - The Company issued 111,11,111 GDR of US $ 8.10 each aggregating to
 90
 million US Dollars.  111,11,111 No. of equity shares underlying the
 GDRs were allotted on 17th February.
 
 1996 - The Company has entered into a Joint Venture with the Nicchi
 Group of Italy, which is one of the largest manufacturers of
 compressors in the world.
 
 1997 
 
 - Videocon Narmada Electronics Ltd. was amalgamated with the Company
 on
 and from 4th December as per the terms of the Scheme of Amalgamation
 sanctioned by the High Court.
 
 - 50,00,000 No. of equity shares allotted against non-tradable
 warrants.  Another, 1,43,92,290 No. of equity shares issued to
 shareholders of Videocon Narmada Electronics Ltd. on its
 amalgamation
 with the Company.
 
 - Videocon International, through its joint venture company with
 Gujarat government - Videocon Marmada Electronics Ltd, was the first
 company to manufacture glass shells for colour picture tubes in the
 country.
 
 - Television-based video phones are being introduced in India with
 an
 agreement signed by Videocon International with a North
 Carolina-based
 company, C-Phone Corporation.
 
 - The multinational does not require Videocon's plant any more as it
 has set up its own colour television manufacturing plant at Noida.
 
 - In case of Apollo Tube & Steel Industries, formerly Apollo Tubes,
 Videocon entered into a five year lease finance agreement with the
 company on September 15, 1994.
 
 1998 
 
 - Videocon and Necchi had also floated a joint venture company in
 India
 to manufacture six million electric motors for compressors and
 domestic
 appliances at facilities in Maharashtra and Karnataka.
 
 - The company has already signed a power purchase agreement with the
 TNEB for which it has agreed for the tariff for the first year.
 
 - Videocon International Limited ranked first on the list of top 20
 companies against whom maximum number of complaints have been
 received
 on the Mumbai Stock Exchange (BSE) during the month of October.
 
 1999 
 
 - Videocon International, which is putting up the 1050 MW North
 Madras
 Thermal Power Station Stage-II, signed an escrow account agreement
 with
 the Tamil Nadu Electricity Board (TNEB).
 
 - Videocon International Ltd. is entering the Internet arena.  Group
 chairman Venugopal Dhoot said the company had obtained licence to
 enroll itself as an Internet service provider (ISP).
 
 - Videocon International had set up a 100 per cent marketing
 subsidiary
 
 - Paramount Global Ltd to market its products in the international
 market.
 
 - The company has also set up 25 branches across the globe to give a
 fillip to its international operations.
 
 - Akai India Ltd, a 70:30 joint venture between the Videocon group
 and
 Akai Electric Company of Japan, has been renamed Akai Consumer
 Electronics and Home Appliances India Ltd.  The two companies had
 finalised a joint venture agreement on March 15.
 
 2000 
 
 - The Company has announced the launch of its new range of
 television
 sets fitted with Net-ready devices to enable viewers access the
 Internet while watching television.
 
 - Videocon International has tied-up with US-based firm Telecruz
 Technologies Inc. which produces the TeleCruz TC701 chip and
 CruzerWare
 software.
 
 - The Company will launch a nationwide dial-up ISP service.  It will
 launch its ISP in China also.
 
 - The Company has taken over a Russian CTV glass facility from a
 German
 bank for a consideration of around Rs 100 crore.
 
 - Videocon International Ltd is setting up a appliance production
 facility in Bangalore to be operated in name of Aplicom India Ltd
 (AIL), a joint venture between VIL and Nechi Compresarai of Italy.
 
 - The Company has signed an Industrial Entrepreneur Memorandum with
 the
 Bihar government to set up a Rs 184-crore unit at Barhi in South
 Bihar.
 
 - The Company is setting up a greenfield manufacturing facility in
 Rajasthan, apart from the two new units coming up in Punjab and
 Uttar
 Pradesh.
 
 - Global Consumer electronics firm Nakamichi Corporation of Japan is
 joining hands with Videocon International for outsourcing its
 high-end
 range of audios and televisions under the original equipment
 manufacturing basis.
 
 2001 
 
 - Videocon International Ltd. has launched an e-care service centre
 for
 air-conditioners to address customer complaints.
 
 - Videocon International Ltd. recently launched a fully automatic
 Solo
 washing machine.
 
 - Videocon International has introduced the `Videocon Bazoomba'.
 
 - Videocon Internationl Ltd. has introduced a Bubble Wash technology
 in
 washing machines, which minimises the consumption of water while
 delivering the most effective wash.
 
 - The Company has launched the five kg front-loading fully automatic
 Tru-Dry Technology in washing machines to deliver clean and 100 per
 cent dry, ready-to-iron clothes.
 
 - The company will invest Rs 450 crore for setting up three
 manufacturing facilities. Of the total investment, Rs 400 crore will
 be
 spent for setting up two plants in Hyderabad and Mohali while Rs 50
 crore is earmarked for another unit in Jharkhand.
 
 2002
 
 -Launches first generation Internet TV for the domestic market
 
 -Receives orders worth 0 million from Russian companies
 
 -Obtains government approval for listing their wholly-owned venture
 Videocon Petroleum Ltd(VPL) in the New York Stock Exchange
 
 2003
 
 -Launches energy saving Air Conditioners
 
 -Fire breaks down in Videocon factory at Bhalgaon
 
 -Videocon inks pact with Korean cos for capacitors
 
 -Videocon inks pact with BCCI to sponsor Int'l cricket in India till
 '06
Source : Dion Global Solutions Limited
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