Moneycontrol Be a Pro
Get App
SENSEX NIFTY
Modern Steels > Company History > Steel - Rolling > Company History of Modern Steels - BSE: 513303, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > STEEL - ROLLING > COMPANY BACKGROUND - Modern Steels

Modern Steels

BSE: 513303|ISIN: INE001F01019|SECTOR: Steel - Rolling
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Dec 06, 15:40
8.97
-0.47 (-4.98%)
VOLUME 100
Modern Steels is not listed on NSE
Company History - Modern Steels
YEAR                       EVENTS
 1973 - The Company was incorporated on 19th November, as a Private
        Limited Company registered with the Registrar of Companies
        Punjab, Himachal Pradesh and Chandigarh at Jalandhar.  It was
        converted into a public limited company on 11th July, 1974. 
 It
        was promoted by Shri Amarjit Goyal.
 
      - The main objectives of the company is to manufacture steel 
        ingots/billets, cold rolled products, oxygen gas etc.
 
 1976 - The Company set up a Mini Steel Plant at Mandi Gobindgarh in
        Punjab with an installed capacity of 9,000 tpa which was
        commissioned in January. 
 
 1983 - All shares taken up by promoters, directors, their friends,
 etc.
 
 1984 - 54,000 shares issued at par to promoters, directors, their 
        friends etc.
 
 1986 - 3,24,000 Bonus shares issued in propn. 1:1.
 
 1988 - Under a modernisation scheme, a six meters Radius Concast
 Plant
        and an Oxygen Plant with a capacity of one million
 cubicmeters
        per annum were added under modernisation scheme.
 
      - At the time of Purchase of concast plant from Concast India
 Ltd.
        The company entered into an agreement with M/s. Concast
 Standard
        A.G. of Zurich, the principal of CIL, March, to make available
 to
        the company during the currency of the agreement technical
 and
        other information and knowhow for continuous casting steel. 
 The
        agreement is valid for eight years.
 
      - 6,48,000 Bonus shares issued in propn. 1:1.
 
 1990 - The company undertook a project to modernise the existing
 rolling 
        mill division to widen the product range as also to produce
 high
        value added items like carbon and alloy rolled products.
 
      - The objects of the public issue of equity shares during July,
 
        were (i) to part finance the cost of modernisation of steel 
        rolling mill;
 
      - (ii) to meet the working capital requirements and
 
      - (iii) to list the shares of the company on recognised stock 
        exchanges.
 
 1991 - The company also undertook a project to modernise as also to 
        expand the steel melting plant.  Applications were made to 
        financial institutions for term loans.
 
      - The company co-promoted a new industrial unit, namely, Modern
 
        Dairies, Ltd., for setting up a dairy project at Karnal 
        (Haryana).
 
      - 12,96,000 Bonus shares issued in propn. 1:1.  18,00,000
 Shares
        were then issued (Prem. Rs. 7 per share) of which the
 following
        shares reserved for preferential allotment:
 
      - (i) 2,00,000 shares to Canbank Mutual Fund (all were taken up)
 
        and
 
      - (ii) 90,000 shares to employees/workers of the company (only 
        76,200 shares taken up).  
 
      - The balance 15,10,000 shares, alongwith the unsubscribed
        portion of 13,800 shares of employees quota were offered for
        public subscription during July, 1990.  Addition 2,70,000
 shares 
        allotted to the public to retain oversubscription.
 
 1996 - 1,23,600 No. of equity shares issued.
 
 2006
 
 -Modern Steels has recommended Dividend of 20%.
 
 2007
 
 -The Company has issued Bonus Shares in the Ratio of 3:2.
 
 2008
 
 -Modern Steels has designated E-mail ID for Investors Complaints:
 ashishsharma@modernsteels.com
 
 2009
 - Modern Steels Ltd has appointed Mr. Partap K Aggarwal as Additional
 Director of the Company
 
Source : Dion Global Solutions Limited
Quick Links for Modern Steels
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.