Company History - IEL
- 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.
- 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).
- 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
- 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
- In addition, capacity refined oil was to be augmented by adding
boiler of adequate capacity.
-The Company has recommended dividend @5% i.e. Rs 0.50 per equity
share of Rs10/-
-The Company has designate the following e-mail ID for the purpose of
E-mail ID - email@example.com.