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Nahar Industrial Enterprises > Company History > Textiles - Composite Mills > Company History of Nahar Industrial Enterprises - BSE: 519136, NSE: NAHARINDUS
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Nahar Industrial Enterprises

BSE: 519136|NSE: NAHARINDUS|ISIN: INE289A01011|SECTOR: Textiles - Composite Mills
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Company History - Nahar Industrial Enterprises
YEAR                       EVENTS
 1983 - The company was incorporated on 27th September 1983 at New
 Delhi.
        The main object of the company is to manufacture rice bran
 oil,
        fatty steric acid, distilled gycerine & pitch, oxygen gas and
 
        toilet soaps.  The company was promoted by Oswal Wollen Mills
 Ltd
        the flagship company of Oswal Group of industries.
 
      - The Company installed a fatty acid plant at Jalaldiwal near
        Raikot in Sangrur district of Punjab with an installed
 capacity
        of 30 tonnes per day which was commissioned in the month of
        February 1985.
 
 1987 - An industrial oxygen gas plant and a solvent extraction plant
        were set up at Raikot in Sangrur district of Punjab.
 
 1988 - The Company undertook a project to expand the capacity of its
        fatty acid plant from 30 tonnes per day to 100 tonnes per day
 and
        to set up a toilet soap plant with an installed capacity of
 50
        tonnes per day.  The entire project was commissioned by the
 end
        of January 1989.
 
      - The Company proposed to issue 16,00,000 bonus equity shares
 in
        the proportion 2:5.
 
 1989 - During February, the Company made a public issue of
 6,00,000-14%
        secured fully convertible debentures of Rs 120 each of which
        30,000 debentures were reserved for preferential allotment to
        employees/workers of the Company with an option to offer the
        unsubscribed portion to the public.  The employees took up
 14,300
        debentures and the remaining 5,85,700 debentures were allotted
 to
        the public.
 
      - Part A of each debenture of the face value of Rs 50 was
        automatically and compulsorily converted into 2 equity shares
 of
        Rs 10 each at a premium of Rs 15 per share simultaneously
 with
        the allotment of debentures.
 
      - Part B of each debenture of the face value of Rs 70 was
 converted
        automatically and compulsorily into 2 equity shares of Rs 10
 each
        at a premium of Rs 25 per share at the end of 12 months from
 the
        date of allotment.
 
      - Accordingly, the Company issued 12,00,000 No. of equity
 shares
        of Rs 10 each on 28th March, 1989 and another 12,00,000 shares
 on
        27th March, 1990.
 
 1991 - The Company proposed to set up a writing and printing paper
        manufacturing unit with annual capacity of 29,120 tonnes and
        vanaspati manufacturing unit with annual capacity of 19,800
        tonnes at village Shahi, Pilibhit district of U.P.
 
      - To part finance the company made a rights cum public issue,
        comprising 40,00,000 No. of equity shares at premium of Rs 90
 per
        share on rights basis and 47,50,000 No. of equity shares at a
        premium of Rs 110 per share through public issue.
 
 1992 - 15,99,360 bonus shares issued in prop. 2:5.
 
 1993 - During February, the Company issued 40,00,000 No. of equity
        shares of Rs 10 each at a premium of Rs 90 per share in the
        proportion of 1:1.  All were taken up.  Allotment of 15,200
        shares was kept in abeyance.
 
      - The Company issued 47,50,000 No. of equity shares of Rs 10
 each
        at a premium of Rs 110 per share through prospectus.  Out of
        which the following shares were reserved for allotment:
        (i) 7,92,500 shares to NRIs (only 3,31,700 shares taken up),
        (ii) 4,57,500 shares to Indian Mutual Funds (only 4,50,000
 shares
        taken up), (iii) 1,40,000 shares to employees on a
 preferential
        basis (none were taken up).  The remaining 33,60,000 shares,
        along with 6,08,300 shares not taken by NRIs, Mutual Funds
 and
        employees were offered to the public.  All were taken up.
 
      - With the public issue, the Company also issued 7,50,000-17.5%
        secured redeemable non-convertible debentures of Rs 100 each
 with
        detachable warrants to promoters and their associates on
 private
        placement basis.  These debentures are redeemable in three
        instalments of Rs 35, Rs 35 and Rs 30 at the expiry of 6th,
 7th
        and 8th years from the date of allotment of debentures.
 
      - 87,34,800 shares issued.
 
 1994 - With effect from 21st October, the name of the Company was
        changed from `Oswal Fats & Oils Ltd', to `Nahar Industrial
        Enterprises Ltd.
 
 1995 - The Company had set up a 100% EOU spinning unit with a
 capacity
        of 25,000 spindles at village Jalalpur, Lalru, Punjab.
 
      - The Company had set up a 100% EOU spinning unit with a
 capacity
        of 25,000 spindles at Mundian Kalan, Ludhiana.
 
      - 15,01,900 No. of equity shares issued against warrants.
 
 1996 - Company's spinning unit at Mundian Kalan at Ludhiana was
 under
        implementation.
 
 1997 - Nahar Fabrics Ltd., was amalgamated with the Company with
 effect
        from 1st October.  Accordingly, 29,33,280 No. of equity shares
 of
        Rs 10 each were issued to the shareholders of erstwhile Nahar
        Fabrics Ltd.  7,100 No. of equity shares kept in abeyance
 issued.
 
 2004
 
 - Delists equity shares Delhi Stock Exchange (DSE) with effect from
 September 2, 2004
 
 
 2005
 
 - Merged Nahar International Limited (manufacturer of yarn) & Nahar
 sugar & Allied Industries Limited (manufacturer of sugar & steel).
 
 - Nahar Industrial Enterprises Ltd, one of the oldest textile
 manufacturers in Punjab, is putting up a denim textile unit at an
 investment of Rs 150 crore.
 
 
 2006
 
 - The Company has entered into a Subscription Agreement (SA) with
 Jefferies International Ltd London (Jefferies) for an issue of
 Foreign Currency Convertible Bonds (FCCBs) of US$ 45.0 million.
 
 
 2008
 
 - Appointed Dr. Yash Paul Sachdeva as an Additional Director of the
 Company.
 
 2009
 - Board has recommended a Dividend of Re 1/- per equity share of Rs
 10/- each.
 
 2010
 - Board has recommended a Dividend of Re 1/- per equity share of Rs
 10/- each.
 
 2011
 - Board has recommended a Dividend of Re 1/- per equity share of Rs
 10/- each.
 
 2013
 - Board has recommended a Dividend of Re 1/- per equity share of Rs
 10/- each.
 
 2014
 - Board has recommended a Dividend of Re 1/- per equity share of Rs
 10/- each.
 
 
Source : Dion Global Solutions Limited
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