Company History - DIC India
YEAR EVENTS
1947 - The company was incorporated on 2nd April, as a private
limited
company and commenced business soon thereafter. The company
was
converted into a public limited company on 27th February,
1976.
Originally it was a wholly owned subsidiary of Coates Brothers
&
Co. Ltd., London, U.K. The Main object of the company is to
manufacture printing ink, printers sundries, synthetic resins
and other surface coating materials.
1961 - The entire capital was held by Coates Brothers & Co. Ltd.
24,404 No. of equity shares were issued as rights.
1962 - In March, 28,153 No. of equity shares were issued to resident
Indian national at a premium of Rs. 65 per share.
- The shareholding in the Company of Coates Brothers & Co. Ltd.,
U.K. was reduced to 66 2/3% by the issue of further shares to
Indian residents.
1964 - 96,000 Right equity shares were issued at par.
1970 - 35,013-1/3 shares issued without payment in cash. 1,80,459
bonus
shares issued in prop. 1:1 29th January 1968. 2,40,612
shares
held by Coates Brothers & Co. Ltd. U.K.
1974 - 3,60,918 bonus shares issued in prop. 1:1.
1977 - During July, 2,00,000 shares offered to the public (prem. Rs.
6
per share).
- Reserve Bank of India approved transfer of 1,12,490 equity
shares
of Rs. 10 each held by Coates Brothers & Co. Ltd., U.K., to
Mimec (India) Pvt. Ltd., Calcutta (registered in India) at a
price of Rs. 16 per share.
- After this transfer of shares and after the public issue of
capital during July the holding of Coates Brothers & Co. Ltd.,
was reduced to slightly less than 40%.
- The object of the public issue of shares during July, was to
reduce the non-resident holding from 66 2/3% to less than
40%.
1978 - 1,84,335 bonus shares issued in proportion 1:5.
1982 - As part of the modernisation and rehabilitation programme, a
modern 1 tonne resin kettle was installed at the Mumbai unit.
1983 - The company installed 4 nos. high efficiency dispension mills
at
its Mumbai and Calcutta factories.
1985 - 2,21,241 bonus equity shares issued in August 1986 in the
proportion 1:5.
1989 - Authorised capital reclassified. 8,84,962 bonus shares issued
in
proportion 2:3, in January 1990.
1991 - Karson Paints Ltd. (KPL) had become a subsidiary of the
Company.
This subsidiary was merged with Coates of India, Ltd. (Parent
company) with effect from 1st July, 1992.
1992 - A project to manufacture industrial adhesives at the premises
of
Karson Paints Ltd., made satisfactory progress. Bostik Ltd.,
U.K
with whom the Company had entered into a technical
collaboration
agreement, completed transfer of technology.
- 22,12,405 bonus shares issued in prop. 1:1.
1993 - During July-August, the company issued 11,06,203 No. of
equity
shares of Rs. 10 each for cash at a premium of Rs.30 per share
on
Rights basis in the proportion 1:4. (all were taken up).
- Another 55,310 No. of equity shares of Rs.10 each were offered
at
a premium of Rs. 30 per share to employees' on an equitable
basis
(Only 55,300 shares were taken up).
- 2,12,405 bonus shares issued in proportion 1:1.
- 11,61,503 Rights shares (1:4, premium Rs.30) issued to
share-holders & employees.
1994 - Effective 1st February, the company allotted 12,99,224 No. of
equity shares of Rs. 10 each at a premium of Rs.10 per share
on a
preferential basis of Coates Brothers Plc, London to enable
them
to increase their holding from 39.60% to 51%.
1996
-Coates of India was entered into a joint venture with Valspar
Corporation of the US and transferred its can coatings business to
this company.
- The company proposed to enter a joint venture with Cray Valley
of France. Approval was awaited from the Pollution Control
Board.
1997
-Approved the scheme for transfer of the packaging coatings business
of Coates to the joint venture with Valspar Corporation of the US.
-decided to participate in the equity of Cray Valley Resins India Ltd
the new joint venture between the company and the French firm Cray
Valley.
1998
-Coates of India's proposed joint venture in India with Cray Valley
of France now more than a year on the starting block faces a grim
future despite a Central Government clearance for the project.
-The `AA' (pronounced `double A') rating assigned to the
nonconvertible debenture programme (enhanced from Rs. 3 crores to Rs.
10 crores) has been reaffirmed.
1999
-Coates of India Ltd has spun off its packaging coatings business
into a wholly owned subsidiary company called Coates Coatings India
Ltd (CCIL) which has initiated moves to induct Valspar Corporation
of the US as a 49-per cent joint venture partner.
-The parent company TotalFina SA has signed a memorandum of
understanding with Sun Chemical group for the transfer of the coating
inks divisions of TotalFina.
2000
-Finalised the sale of its adhesives division to Bostik India Pvt Ltd
at a consideration of a little over Rs 9 crore.
- The Oswals of the Ludhiana-based Vardhman group have bought out
Coates in the joint venture company Barber Vardhman.
-SUN Chemicals Group BV (SCGBV) which had already acquired 51 per
cent stake in Coates of India Ltd has made an open offer to buy an
additional 17 21 385 shares of Rs. 10 each at Rs. 165 per scrip from
the existing shareholders.
-Acquisition of 59.42 per cent controlling stake in Coates of India
Ltd (COIL) the DIC (Dainippon Ink and Chemicals) Group of Japan has
decided to bring into India some of its top-end products in the
graphic arts business.
2001
-Sun Chemical Group B.V. has acquired 35,11,624 (51 per cent) equity
shares of Coates India Ltd from Coates Brothers Plc UK at a total
consideration of GBP 60,20,000.
-Mr. B S Kampani has been appointed as Wholetime Director of the
company.
2003
-Dainippon Ink & Chemical (DIC) Asia Pacific, the Singapore-based
parent of Coates of India (CoI), has hiked its stake in the Indian
subsidiary to 61.4% from 59.4% by buying shares from the secondary
market.
-DIC (Dainippon Inks & Chemicals) Group of Japan, has decided to set
up a new plant in Bangalore for some of its specialised Graphic Arts
products.
-DIC Asia Pacific Pte Ltd. Singapore has informed that they have
acquired 1,69,491 shares amounting to 2.46% of the total paid up
capital of Coates of India Limited.
-Board accepted the resignation of Mr B M Varma - Non-executive
Director from the close of business on October 31, 2003.
2004
-Coates Of India Ltd has informed that pursuant to the application
for change of name made by the company, the Registrar of Companies,
West Bengal has issued a fresh certificate of Incorporation dated
August 6, 2004 for change of name of the company to DIC India
Limited
2007
-Dic India Limited has appointed Dr. P K Dutt, Managing Director to
take on the resposibility of Chairman-cum-Managing Director of the
Company.
-DIC India Ltd has appointed Prof. Ranjan Das & Mr. Subir Bose, as
Independent and Additional Directors in the Board of the Company to
hold office till the date of forthcoming Annual General Meeting of
the Company.
-The company has issued rights in the ratio of 1:3 at a premium of
Rs.215/- Per Share.
2009
- DIC India Ltd has informed that the Board of Directors of the
Company at its meeting held on July 25, 2009, inter alia, Mr. Bhaskar
Nath Ghosh has been appointed as an Independent and Additional
Director in the Board of the Company to hold office till the date of
forthcoming Annual General Meeting.
2010
- Recommended the payment of dividend at the rate of Rs. 4.00 per
share (2008- Rs. 3.50 per share) on the Capital of 9,178,977 equity
shares of Rs. 10/- each.
- Execution of the Share Purchase Agreement entered into between DIC
India Limited and The Valspar (Singapore) Corporation Pte Limited.
2011
- Board has recommended a Dividend of Rs. 4.00 (40%) per share and a
special dividend of Re. 1.00 (10%) per share
2013
- Board has recommended a Dividend of Rs. 4.00 per share on the
capital of 9,178,977 equity shares of Rs. 10/- each.
2014
- Board has recommended a Dividend of Rs. 4.00 per share on the
capital of 9,178,977 equity shares of Rs. 10/- each.
2023
-DIC India Inaugurates its new state-of-the art manufacturing
facility in Gujarat.
