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Blue Blends (India) Ltd.

BSE: 502761 | NSE: BLUEBLENDS | Series: NA | ISIN: INE113O01014 | SECTOR: Textiles - Processing

BSE Live

Aug 03, 15:40
0.86 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
4,031
10-Day
3,546
30-Day
3,883
744
  • Prev. Close

    0.86

  • Open Price

    0.82

  • Bid Price (Qty.)

    0.86 (300)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Aug 03, 15:48
0.85 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
4,554
10-Day
4,695
30-Day
4,538
200
  • Prev. Close

    0.85

  • Open Price

    0.80

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Company History - Blue Blends (India)
YEAR                       EVENTS
 1981 - The company was incorporated on 16th February.  The main
        objective of the company is to manufacture grey fabrics and
        texturising of synthetic yarn.  The fabrics are sold under
 the
        brand name ARYA.
 
 1985 - In October-November, the company issued 1,50,000-15% secured
        convertible debentures of Rs. 120 each at par.  Of these,
 50,000
        debentures to shareholder, 10,000 debentures to deposit
 holders 
        and 15,000 debentures to employees, directors, etc., were 
        reserved for preferential allotment.
 
      - The remaining 75,000 debentures were offered to the public.  A
 
        total of 1,87,500 debentures were issued to retain 
        over-subscription.  Rs. 20 out of each debenture was converted
 
        into 2 equity shares of Rs. 10 each of the Company on 30th
 June,
        1986.  The remaining Rs. 100 of each debenture will be
 redeemed
        in 4 equal instalments at the end of the 7th, 8th, 9th and
 10th
        year from the date of allotment.
 
      - The company issued on rights basis 2,50,000-13.5% secured
        convertible debentures of Rs. 285 each of the aggregate value
 of
        Rs. 712.50 lakhs.  Of these, 1,50,000 debentures were offered
 to
        equity shareholders in the ratio 1 deb.: 5 equity shares,
 75,000
        debentures to holders of equity shares issued on conversion
 of
        convertible portion of existing debentures in the ratio 1
 deb.:
        5 equity shares, 8,000 debentures to deposit holders, 5,000 
        debentures to promoters and business associates and 12,000
        debentures to employees of the Company.
 
      - Rs. 85 of each debenture will be converted into 5 equity
 shares
        at a premium of Rs. 7 per share after six months from the
 date
        of allotment.  This issue was oversubscribed.  Retaining 25% 
        over subscription the company allotted 3,12,500 debentures,
 the
        allotted 3,12,500 debentures, the allotment in each category
        being 25% more than what was initially offered.
 
      - 3,75,000 shares allotted on 30th June, on conversion of
        debentures.
 
 1986 - The company has also to set up two more units, one at Daman
 for
        manufacture of texturised & twisted yarn & the other at
 Mangrol,
        Surat for manufacture of texturised twisted & dyed yarn.
 
      - 15,62,500 shares allotted on 6.5.1987 on conversion of
        debentures.
 
 1987 - During the year, necessary approvals were received for the
        setting up of new projects in the field of synthetic yarn
        chemicals, picture tubes, aluminium, etc.  Necessary steps
 were
        taken for implementation of the said projects.
 
      - 13,43,750 Bonus shares issued in prop. 1:2 on 16.9.1988.
 
 1988 - The name of the company was changed from Blue Blends & 
        Texturising Mfg. Co. Ltd., to `Blue Blend (I) Ltd, with
 effect
        from 13th April.
 
      - In July 1989, 40,31,250 rights shares issued (Prem. Rs. 20
 per
        share; Prop. 1:1).  Additional 6,04,688 shares allotted to
 retain
        oversubscription.  Another 2,01,500 shares offered to
        employees/workers (prem. Rs. 20 per share) but only 6,800
 shares
        taken up.  The balance 1,94,700 shares allowed to lapse.
 
 1989 - Some shares were forfeited.  Number of shares forfeited not
        known.
 
 1992 - Turnover improved to despite disruptions in production as
 well
        as despatch of products caused by the internal problems at
 Mumbai
        and Surat.  However, margins continued to be under pressure
 due
        to increase in raw-material cost.
 
 1993 - Turnover improved considerably and production of texturised,
        twisted and dyed yarn also stood higher at 5,394 tonnes.  The
 
        overall working was reported to be satisfactory.
 
      - The company installed two nos. texturising machines and
 proposed
        to add additional facility for manufacture of texturised and
        sized; yarn at Daman & Silvarra.  In addition, steps were
 taken
        to set up project for manufacture of premium fabric at
 Ahmedabad.
 
 1994 - The company registered all round growth in production,
 turnover
        and profitability.  Production and turnover stood higher at
 5998
        tonnes.
 
      - The company issued and allotted 25,00,000 warrants on
        preferential basis to promoters, empowering the holders to
 apply
        for one equity share against each warrant at a price of Rs.
 25
        per share.  Till date 15,00,000 shares were allotted at a
 premium
        of Rs. 15 per share to the warrant holders.
 
 1995 - The company proposed to increase the capacity of denim plant
 at
        Ahmedabad to 12 million metres per annum.  The company also
        proposed to set up an air texturising yarn manufacturing unit
        with an installed capacity of 1440 TPA at Silvassa, in the
 union
        territory of Dadra Nagar & Haveli.
 
      - 10,00,000 No. of equity shares (Prem. Rs. 15 per share)
 allotted
        against warrants.  Preference shares issued to various
 Financial
        Institutions.
 
 1996 - Company has successfully implemented expansion of capacity at
        Ahmedabad plant from 6 million metres to 12 million metres
 per
        annum.  Commercial production of Texturised Yarn at Rakholi,
        Silvassa also commenced during the year.  Company has decided
 to
        further expand the capacity of Rakholi plant by setting up 7
        Texturing machines.
 
      - Company has allotted 2,50,000 15% Redeemable Cumulative
        Preference shares of Rs. 100 each.
 
 
 2003
 
 -Blue Blends (I) Ltd has informed that at the meeting of the Board of
 Directors of the company held on June 30, 2003 Mr. Anand Arya and Mr.
 Ajeet Yadav were appointed as Managing Director and Whole-time
 Director respectively for a period of 5 years effective from July 1,
 2003 subject to approval, inter alia, of shareholders and Central
 Government.
 
 2005
 -Stressed Assets Stabilization Fund has informed that they have
 acquired 40,00,000 shares aggregating to 35.80% of the total paid up
 capital of Blue Blends (India) Ltd.
 
 2006
 -Blue Blends Finance Limited has informed that they have acquired
 1,00,000 shares aggregating to 0.66% of the total paid up capital of
 Blue Blends (India) Ltd.
 
 2007
 -Company has created e-mail ID exclusively for the purpose of
 registering complaints by investors. e-mail ID
 investorgrievance_bbil@yahoo.co.in.
 
 2008
 - Blue Blends (I) Ltd has appointed Mr. Jeevan Kumar (IFCI Nominee)
 as Nominee Director of the Company in place of Mr. Y.V. Ramesh Naidu
 (IFCI Nominee).
 -Blue Blends (I) Ltd has informed vide its letter dated June 09, 2008
 that there is change in Compliance Officer of the Company with
 immediate effect. Mr. Tapan Maulik is New Compliance Officer.
 
 2011
 -Mr. Pujaram Purohit was appointed as a Additional Director of the
 Company.
 
 2014
 - Ms. Archana Dubey, Associate Member of the Institute of Company
 Secretaries of India, has been appointed as the Company Secretary of
 the company.