Industrial Progressive (India) Ltd.

YEAR                       EVENTS
 1984 - The Company was Incorporated on 19th November.  It was
 promoted 
        by Subhash Goel Daba Group.  The Company's objects is to
        Manufacture skimmed milk pure ghee, standardised milk etc.
 
      - The Company undertook to set up a milk processing unit with
 an
        installed capacity of 2 lakh litres of milk per day for
        manufacture of 4000 TPA of skimmed milk powder, 3000 TPA of
 pure
        ghee, 40,000 litres per day of standardised/tone milk and 600
 TPA
        of malted food.  It was also proposed to manufacture baby
 foods,
        chocolates, dairy whitener, homogenised bacteria free milk
 etc.
 
 1994 - 9,95,000 No. of equity shares of Rs.10 each issued,
 subscribed
        and paid up.  40,00,000 No. of equity shares of Rs.10 each
 were
        issued in November 1992 of which 10,00,000 shares reserved
 for
        allotment on a firm basis to promoters/directors etc.  Of the
        remaining 10,000 shares reserved for allotment on
 preferential
        basis to employees.  (only 9,000 shares taken up).  Balance
        30,00,000 shares were issued to the public (Only 29,90,000
 shares
        taken up) along with 1000 shares not taken up by employees. 
 (All
        were taken up).