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IEL > Company History > Edible Oils & Solvent Extraction > Company History of IEL - BSE: 524614, NSE: N.A
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IEL

BSE: 524614|ISIN: INE056E01016|SECTOR: Edible Oils & Solvent Extraction
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Dec 11, 16:00
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Company History - IEL
1956 
 - The Company was incorporated as a private limited company on 6th
 February.  It was promoted by Mr. S. B. Jhaveri of the Nanavati group
 for setting up a solvent extraction plant at Jamnagar with a capacity
 to process 50 tonnes of de-oiled cakes per day. The Company
 manufacture refined solvent extracted groundnut oil.
 - The Company has been exporting groundnut de-oiled cakes.
 Domestically the Company sells its refined solvent extracted ground
 nut oil, under the brand name Diamond.  The Company has set up a
 factory at Vapi for manufacture of Nitro Chloro Anilines with an
 installed capacity of 100 tpa.
 
 1994 
 - 20,00,000 shares allotted for cash at par.  13,33,333 No. of equity
 shares were then issued at a premium of Rs 20 per shares during June
 1994 as follows: (I) In firm allotment basis:
 (i) 1,33,333 shares to promoters, their friends etc. (ii) 60,000
 shares to Canbank Mutual Fund. (II) On preferential Allotment basis:
 (i) 60,000 shares to Indian Mutual Fund (none were taken up) (ii)
 32,200 shares to permanent employees (only 18,100 shares taken up). 
 Balance 8,67,800 shares along with unsubscribed portion of 74,100
 shares was added to public offer (all were       taken up).
 
 1996 
 - The Company has undertaken an expansion programme at Vapi chemical
 division to increase the production capacity from 360 TPA to 540 TPA.
  The Alfa-Laval refinery at Jamnagar was commissioned during the
 year.
 
 1997 
 - The Company's Solvent Extraction plant at Jamnagar was shut down
 for about 1 month on account of cyclonic effect.  The plant
 recommissioned production from 9th July 1998.
 - The Company undertook a modernisation cum expansion of capacity at
 its chemical plant.  The capacity was being increased by modifying
 the extraction chamber and increasing the capacities of condensers
 and toasters.
 - In addition, capacity refined oil was to be augmented by adding
 boiler of adequate capacity.
 
 2003
 -The Company has recommended dividend @5% i.e. Rs 0.50 per equity
 share of Rs10/-
 
 2007
 -The Company has designate the following e-mail ID for the purpose of
 investor grievance: 
 E-mail ID - iel@vsnl.com.
 
Source : Dion Global Solutions Limited
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