Lakshmi Auto Components Ltd.

YEAR                       EVENTS
 1987 - The Company was incorporated as a public limited company on
 2nd
        December.  The main objects of the Company is to manufacture
 of 
        automotive components used in powered two-wheelers.  The
 Company
        was promoted by TVS-Suzuki Ltd. (TSL).
 
 1988 - 70 No. of equity shares were subscribed for by the signatories
 to
        the Memorandum, friends and relatives of directors. 
 39,20,000
        shares were then issued at par and were allotted to
 TVS-Suzuki,
        Ltd.  20,79,930 shares were then issued at par of which the
        following shares were reserved for preferential allotment:
 
      - (i) 2,00,000 shares to employees (including Indian working
        Directors)/workers of the Company and those of TVS-Suzuki,
 Ltd.
        (only 3,300 shares taken up) and
 
      - (ii) 2,00,000 shares to the shareholders of TVS-Suzuki, Ltd.
 (All
        were taken up).  The balance 15,79,930 shares along with
 2,96,700
        shares not taken up by the employees were offered for public
        subscription during April.  Only 12,05,100 shares were taken
 up. 
 
      - The balance 6,71,530 shares were devolved on under writers
        (2,10,000 shares on LIC, 1,20,000 shares each on IFCI and
 ICICI
        and 2,21,530 shares on IDBI).
 
 1990 - With effect from 28th February, the Company was under lock
 out
        for a period of 3 months due to labour unrest.
 
      - The Company undertook to meet the requirements of TVS-Suzuki
        Ltd., in respect of Crankshafts, connecting rods and gears
 and
        shafts for the entire range of motorcycles and connecting
 rods
        and certain others for motorcycles of Escorts Ltd.
 
 1991 - 3,000 forfeited equity shares reissued.
 
 1994 - The Company proposed to increase the capacity from 75,00,000
        components to 1,12,50,000 components per annum to meet the
        growing demand.
 
      - The Company proposed to issue equity shares in the ratio of
 1:2
        to the existing shareholders on right basis at a premium of Rs
 10
        per share.
 
 1996 - 30,00,000 rights shares allotted (prem. Rs 10 per share)
 prop.
        1:2.
 
 1998 - The Company took over the business of M/s. Harita Rubber
        Productions Limited and M/s Sundaram Plastics Limited with
 effect
        from 1st October.
 
      - 47,54,600 rights shares of Rs. 10 each at a premium of Rs. 10
 per
        share issued.
 
      - Lakshmi Auto Components Ltd (LAC), manufacturers of critical
        engine components to TVS-Suzuki Ltd for their motorcycles,
 mopeds 
        and scooterette, is proposing to issue rights shares to its
        shareholders in the ratio of one share for every two held.
 
      - Lakshmi Auto Components, the only subsidiary of TVS Suzuki,
 is
        in for a major upside along with its parent.
 
      - LAC supplies critical engine components to TVS Suzuki (TSL)
 for
        its motorcycles, mopeds and scooties.
 
      - The company has taken over the business of Harita Rubber
 Products
        and Sundaram Plastics with effect from 1st October.
 
 1999 - The company has enhanced its capacity to supply engine
 components
        from 65,000 two-wheelers to 1,00,000 two-wheelers per month. 
 The
        company is also planning to supply components for the new
 four
        stroke motorcycle, which the holding company, M/s.TVS- Suzuki
 is
        planning to introduce in the market shortly.
 
      - The rights issue was offered in the ratio of one share for
 every
        two equity shares held by the shareholders as on 12th
 February
        at a premium of Rs. 10/- per share.  The issue was over
        subscribed and the shares were allotted on 24th April.  With
 the
        allotment of these shares, the paid up capital of the
 company,
        now stands at Rs.1350 Lakhs and the share premium at Rs.750
        Lakhs.
 
 2003
 
 -Board approves for the declaration of interim dividend of Rs.2 per
 equity share of the company and also for the scheme of amalgamation
 of Sundaram Auto components Ltd with Lakshmi Auto components ltd.
 
 -Engine components Division of Lakshmi Auto Component (LAC) merged
 with TVS Motor Company Ltd., a group company