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CESC

BSE: 500084|NSE: CESC|ISIN: INE486A01013|SECTOR: Power - Generation & Distribution
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Company History - CESC
YEAR                                               EVENTS
 1978 - The Company was incorporated on 28th March.  A scheme of
        arrangement and amalgamation between the Calcutta Electricity
        Supply Corporation Ltd. (CESC), its stock holders and the
 Company
        dated 6th December 1978 became operative from 2nd April 1979.
        The Company owns and works the Calcutta and District
 Consolidate
        Electric License 1946 (granted licenses) for the supply of
        electricity for all purposes in and around Calcutta.
 
 1979 - The Company issued and allotted on 7th April, 71,94,951 No.
 of
        equity shares of Rs 10 each and 32,07,029 - 7 1/2% preference
        shares of Rs 10 each credited as fully paid-up to the persons
        who, at the close of business on 1st April, were the holders 
        respectively of the CESC Ordinary Stock: For every 5 nominal
 of
        6% cumulative preference stock of CESC and for every 5
 nominal
        of ordinary stock of CESC, eight equity shares of Rs 10 each
 of
        the Company.
 
 1981 - Issued 3,00,000 No. of equity shares to ICICI.  6,50,000 No.
 of
        Equity shares to IDBI and 3,00,000 No. of equity shares to
 LIC
        all at par in part conversion of loans.
 
 1985 - The Company issued 8,50,000 - 15% secured, redeemable,
        non-convertible debentures of Rs 100 each on rights basis in
        February to meet its working capital requirements.
 
 1986 - The Company secured during the year a contract for erection
 of
        their Lalmatia (Bihar) 220/132 KV substation.  Another
 contract
        was secured from BHEL for erection of their 400 KV substation
 at
        Kolaghat (West Bengal).  The company was also entrusted with
 the
        preparation of feasibility studies for captive power
 generation
        projects.
 
 1987 - The name of the Company was changed from The Calcutta
 Electric
        Supply Corporation Ltd., to CESC Ltd., with effect from 1st
 of
        January.
 
 1988 - A Memorandum of Understanding was signed between the
 consultancy
        & Contracts division and the company by Neyveli Lignite
        Corporation for cabling work.  A MOU was signed between the
        Consultancy & Contracts Division and MECON, a public sector
        consultancy firm to jointly undertake consultancy and
        construction contracts in power and engineering field both in
 and
        outside India.
 
 1991 - All statutory clearances were received for the 500 MW power
        station at Budge Budge.
 
      - The Company proposed to set up a 3 x 250 MW coalfired thermal
        power station at Balagarh.
 
      - The Company proposed to issue 20% secured redeemable
        non-convertible debentures aggregating Rs 20 crores on
 private
        placement basis to financial institutions.
 
      - During March, the Company offered 33,89,006 No. of equity
 shares
        of Rs 10 at a premium of Rs 15 per share to the equity
        shareholders on Rights basis in the proportion of 1:5 and
        1,69,451 No. of equity shares of Rs 10 each at a premium of Rs
 15
        per share to the permanent employees/workers of the Company on
 an
        equitable basis.
 
      - The company issued 8,71,500-12.5% secured redeemable partly
        convertible debentures of Rs 600 each as follows: (i)
 4,65,000
        debentures were reserved for a preferential allotment to the
        equity shareholders; (ii) 43,575 debentures were reserved for
        preferential allotment to the permanent employees/workers of
 the
        Company on an equitable basis and (iii) 3,62,925 debentures
 were
        offered to the Indian Public.
 
      - Part `A' of Rs 250 of each debentures was to be converted into
 10
        equity shares of Rs 10 each at a premium of Rs 15 per share
 at
        the end of six months from the date of allotment.
 
      - Part `B' of Rs 350 of each debenture was to be redeemed at par
 in
        5 equal instalments of Rs 70/- each at the end of 7th to 11th
        years from the date of allotment.
 
      - The Company allotted (including permitted retention) 9,17,598
        debentures and 39,94,596 No. of equity shares effective 11th
        June, 1991 respectively.
 
 1992 - The Company proposed to undertake the project for a high
        installed capacity of 1,500 MW to be completed in three states
 -
        Stage-I of the project comprising 2 x 250 MW units having an
        installed capacity of 500 MW which will be followed by one 500
 MW
        unit in the second stage and another 500 MW unit in the third
        stage.
 
      - The Company finalised to issue 1,55,43,240-16% secured
 redeemable
        non-convertible debentures of Rs 100 each for cash at par in
        order to raise resources for meeting a part of the
 requirements
        of the Budge Budge power station project and also for meeting
 the
        Company's working capital needs.
   
 1993 - Approvals/clearances were received.  The Company entered into
 an
        agreement with Rolls Royce Power generation system for
 turnkey
        execution of the project.
 
 1994 - The Company proposed to set up a 1500 MW thermal generating
        station to be completed in 3 stages.
 
      - During April, the Company issued 83,66,140 Global Depository
        receipts representing 83,66,140 shares together 33,46,456
        warrants to subscribe for GDRs in units of 5 GDRs and 2
 warrants.
        The issue price was US $ 53.34 per unit.
 
 1995 - A new Company Integrated Coal Mining Pvt. Ltd. was promoted
 by
        the Company to undertake the work of particularly power
 companies
        to be directly involved in mining.
 
      - The Company issued 3,00,000 - 14% secured redeemable
        non-convertible debentures of Rs 100 each on private
 placement
        basis to financial institutions.  These debentures are
 redeemable
        in five equal annual instalments at a premium of 5% from 9th
        April.
 
      - 50,00,000 No. of equity shares allotted on conversion of
 warrants
        attached to 16% NCD.
 
 1996 - The Company has promoted a new company Balagarh Power Company
        Ltd., for setting up a 1500 MW thermal power station.
 
      - CESCON, Ltd. is a wholly owned subsidiary of the Company.  It
        carries on consultancy contracts and other allied business
        independently.
 
      - 89,31,620 No. of equity shares of Rs 10 each allotted at a
 price
        of Rs 50 per share on conversion of warrants.  30,14,465 No.
 of
        equity shares of Rs 10 each Rs 1 paid up allotted at a price
 of
        Rs 50 per share on conversion of warrants.  34,97,000 No. of
        equity shares of Rs 10 each.  Rs 1 paid up allotted at Rs 80
 per
        share on conversion of warrants.
 
 1997 - 120,00,000 pref. shares redeemed.  8,103 No. of equity shares
        allotted on conversion of warrants attached to 16% NCD.
 
      - CESC is also setting up a 1,500-mw thermal power station in
 two
        or three stages at Balagarh.
 
      - The largest disadvantage for the company is that it is
 situated
        in a state which is the strong hold of the Leftists.
 
 1998 - The long term rating of Rs.1550 million Non Convertible
 Debenture
        Programme of CESC Ltd. has been downgraded from LAA to LA,
        indicating adequate safety, by Investment Information and
 Credit
        Rating Agency (ICRA).
 
      - The Calcutta Electric Supply Corporation, renamed CESC Ltd.
 in
        1987, has been lighting up Calcutta for over 100 years.
 
      - The company are the 2 per cent effective tariff increase
 after
        several months, which came in November 1996.
 
      - 20,00,000-14.5% pref. shares redeemed. 101,88,665 equity
 shares
        of Rs. 10 each Rs. 5 per share paid up allotted on 15th Feb.
 1999
        on conversion of equity warrants `B' attached to 15% NCD.
 
 1999 - CESC Ltd. has demanded another hike in the fuel surcharge
 (FSC)
        rates for a three year span form 1996-97 to 1998-99.
 
      - CESC's existing licensing agreement will be made to include
        borderline areas of the city currently within the jurisdiction
 of
        WBSEB.
 
      - The company has grown into a 650 MW capacity generating and
        distributing network.
 
      - The company has initiated a series of interactive programmes
 on
        Building Excellent Service Provider for its employees.
 
 2000 - ICRA has downgraded the rating of the Rs 155.3 crore NCD issue
 of the
              company to LBBB+.
 
 2001 - The Titagarh Thermal Power Station of CESC Ltd. has been
 awarded the
              ISO 9002 certification.
 2002
 
 -CESC Board approves proposal for amalgamation of subsidiary.
 
 -Appoints Mr Tarun Kumar Ray as the Nominee director of IFCI on the
 Board of the company 
 
 -Court orders the company to pay Rs. 3 cr to Damodar Valley
 Corporation.
 
 -Government nominates Mr Birenjit Kumar Paul on the Board of the
 company.
 
 2003
 
 -Chemithon Engineers Ltd along with Heavy Water Board of the
 Government starts work on development of a process to bring down
 emission levels at the company.
 
 -Unveils multi-pronged scheme to curb pollution at its thermal power
 facilities.
 
 -Board approves to allot shares to Management Group & Associates.
 
 -Introduces Voluntary Separation Scheme for all permanent employees
 of the company who have completed 10 years of service and attained 40
 years of age.
 
 -2300 employees apply for CESC's retirement scheme
 
 2004
 
 --Hindustan Lever Ltd tied up with the private sector power utility,
 CESC Ltd, for sampling of Pepsodent toothpaste. `Touchbase with
 Kolkata' project said that with its April bills CESC would be sending
 out 14.1 lakh covers carrying the Pepsodent label and a small 15 gm
 tube of toothpaste with a new flavour.
 
 -PTC forges alliance with CESC
 
 -CESC ties up with HLL
 
 2005
 
 -CESC ties up with Power Finance Corporation (PFC)  to repay debt
 
 -CESC executes MoU with Govt of Jharkhand
 
 2008
 
 -CESC Ltd has forayed into a memorandum of understanding with the
 Government of Bihar to establish a 2,000-MW power plant in the
 State's Bhagalpur district at an investment of Rs 10,000 crore.
 
 2009
 
 - In recognition of his outstanding performance and effective
 leadership role, Mr. Subrata Talukdar was awarded Outstanding
 Achiever Award.
 
 -CESC bags 140 mw hydro power project in Himachal
 
 2010
 
 -CESC now owns 100 percent of Dhariwal Infrastructure and the company
 is expected seek approval from the Registrar of Companies (RoC) to
 rename Dhariwal Infrastructure.
 
 2011
 
 -Renowned names from the world of business and industry came together
 at the second edition of AIMA Managing India Award.
 
 -Bantal Singapore Pte Limited, a wholly owned CESC subsidiary, has
 agreed to subscribe to approximately 4.8% of the issued share capital
 of Resource Generation Limited.
 
 -Shopaholics as Spencer's Retail recently launched its fourth hyper
 store in Axis Mall,Rajarhat.
 
 -CESC has kept up its blazing performance in the sports arena.
 
 2012
 
 -CESC Ltd  has entered into agreements for taking over from
 Indiabulls Group two hydro electric power projects of an aggregate
 capacity of 146 MW in the state of Arunachal Pradesh.For the
 aforesaid purpose, the Company has acquired entire shares of Pachi
 Hydro Power Projects Limited and Papu Hydropower Projects Limited.
 
 -Sanjiv Goenka marks foothold in IT space with Firstsource buys.
 
 2013
 -CESC Ltd executed the first 300 MW Thermal Power Unit of 2 X 300 MW
 project at Chandrapur. Maharashtra by Dhariwal Infrastructure
 Limited
 -CESC Ltd has recommended a dividend at the rate of Rs. 7 per share
 for the year 2012-13.
 -Top Infrastructure Company Award to CESC under Power Distribution
 Category by Dun & Bradstreet Infra Awards,2013
 
 2014
 -Top Infrastructure Company Award to CESC under Power Distribution
 Category by Dun & Bradstreet Infra Awards,2014.
 -CESC Ltd won Asian Power Awards 2014 in the category of Innovative
 Power Technology of the Year.
 
 2015
 -CESC signs MoU with Silver Spring for smart grid business
 -CESC  won the rights to operate the Pune franchise of the Indian
 Premier League for a period of two years
 -Smart grid for power supply
 -CESC launches Mobile App for consumers convenience
 
 2016
 -CESC bags power supply order in Rajasthan.
 -CESC Launches Safety Drive to make electricians aware of ways to
 avdoid hazards.
 -Coal India commences supply of coal for CESCs Chandrapur plant.
 
 2017
 - Asian Power Awards 2017
 - Rashtra Vibhushan Award 2016-17
 - ICC Award 2017 ( 1st Runner-up under the category  Quality of
 Service Award)
 - ICC Award 2017 ( 1st Runner-up under the category  Efficient
 Distribution Operation Award)
 - 8th CII National HR Excellence Award 2017
 
Source : Dion Global Solutions Limited
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