1970 - The company was incorporated as a Private Ltd. company on 18th
November, and was converted into a Public Ltd. company
May, 1975. The company was promoted by Shri. O.P.
associates for setting up a plant for the manufacture of
Strips at Hisar, Haryana.
- The company commenced the manufacturing activities with
setting up of a strip mill plant with an installed
50,000 tonnes per annum of hot rolled steel strips with
melting facilities at Hisar in Haryana.
- The company manufactures steel strips, pipes,
Manufacture of oxygen, Argon, nitrogen gas etc. is also
1982 - 3,00,500 bonus shares issued in prop. 1:1.
1983 - 2,00,000 No. of equity shares issued at a premium of Rs. 5 per
share out off which 1,22,700 shares issued without
cash to a non-resident Indian against the value of
1985 - The company embarked upon a modernisation programme at Hisar.
was planned to add balancing equipment at Vasind.
- 16,02,000 Bonus Equity shares issued in prop. 2:1.
of equity shares then issued at a premium of Rs. 8 per
(including 6,03,000 No. of equity shares offered for
sale by the
existing shareholders at a prem. of Rs. 8 per share)
debentures in the propn. 2 deb. 5 equity out of this
following shares linked to debentures were reserved for
- (i) 60,000 shares to employees of the company;
- (ii) 24,000 shares to business associates of the company
- (iii) 4,80,000 shares to non-Resident Indians on
- The balance 6,36,000 shares linked to debentures were
public subscription during February 1986. 3,00,000
equity shares linked to 1,20,000 debentures were also
retain oversubscription (21,000 shares to employees and
associates, 1,20,000 shares to non-resident Indians and
shares to the public).
1986 - The company installed an induction furnace, a D.G. set, pusher
type furnace, soaking pit furance, side rolls and other
- The company issued 12,00,000 No. of equity shares at a
Rs. 8 per share (including 6,03,000 - 15% secured
non-convertible debentures of Rs. 100 each. The
were to be made for both equity shares and debentures in
ratio of 2 debentures for every 5 equity shares.
- Out of the total issue (i) 60,000 No. of equity shares
debentures were reserved for preferential allotment to
- (ii) 24,000 No. of equity shares and 9,600 debentures
reserved for preferential allotment to business
- (iii) 4,80,000 No. of equity shares and 1,92,000
reserved for preferential allotment to non-resident
persons of Indian Origin residing abroad with
rights. The balance of 6,36,000 No. of equity shares and
2,54,000 debentures were offered for public subscription
- Additional equity shares and debentures were allotted as
- (i) 21,000 No. of equity shares and 8,400 debentures to
employees and business associates;
- (ii) 1,20,000 No. of equity shares and 48,000 debentures
non-resident Indians and
- (iii) 1,59,000 No. of equity shares and 62,600 debentures
- Simultaneously with the public issue of equity shares
debentures, the company offered for sale 6,03,000 No. of
shares to the public linked with debentures on the same
those contained in the prospectus for the public issue
5,97,000 No. of equity shares.
1987 - The company was successful in introducing four feet CRCA
To ensure higher profitability and to broaden the base
customers, continuous efforts were made to introduce new
as import substitutes.
- The programme envisaged the installation of ultra high
furnace, vaccum O2 degassing plant, steckel mill, ladle
facility for continuous charging of sponge iron, 1250
continuous slab caster, etc. A new pickling line,
furnace and other balancing equipments were to be
1988 - The Hisar division introduced new range of stainless steel
and flats with lower nickel contents and nickel free
were well received in the market. The Vasind division
import substitute products, such as CRCA sheets of DD &
Drawn and Extra Deep Drawn grades) for use by the
- The industrial license of the company was endorsed for
manufacture of 1,25,000 tonnes of steel ingots from the
50,000 tonnes and 1,00,000 tonnes of hot rolled strips
40,000 tonnes at Hisar Division.
- The company set up a pilot plant at Hisar by adopting new
technology to manufacture both Sponge iron and Pig
company found it economically viable to commercialise
technology and decided to set up a plant at Raigarh in
Pradesh to manufacture 1,00,000 tonnes per annum each
iron and Pig iron.
1989 - During November, the company offered 16,50,000-14% secured
convertible debentures of Rs. 140/- each on rights basis
then existing equity shareholders in proportion 1
equity shares. Additional 2,64,665 debentures were
retain over subscription. 82,500 debentures were also
employees/workers of the company on an equitable basis
77,710 debentures were taken up. Unsubscribed portion
debentures out of the employees quota was allowed to
- As per the term of issue, the entire amount of Rs. 140
debenture was converted into two equity shares of Rs. 10
a premium of Rs. 60 per share at the end of six months
date of allotment of debentures i.e. 14.8.1990.
- 32,99,200 Bonus shares issued in propn 1:1.
1990 - Jindal Holdings Ltd. (JHL) became a subsidiary of the
- Vasind division also improved with the introduction of
CRCA coils in DD & EDD grade catering to the needs of
and refrigeration industries.
- The company installed and commissioned gas flow control
and some balancing equipments and a DG set of 5,400 KVA
at Hissar. A modern CR slitter and cut to length line
installed at Vasind.
- 39,84,750 Shares issued (Prem. Rs. 60 per share) in
1991 - The company installed VOD system, automation of steckel mill
continuous charging of AOD furnace at Hisar.
second rolling mill at Vasind division was undertaken.
- A ferrochrome plant was also being put up, mainly for
consumption. The Ist phase of the sponge iron project
commissioned in the month of March.
- One more rotary kiln was installed thereby increasing
capacity to 2 lakh tonnes of sponge iron and 1 lakh
tonne of pig
iron. The company proposed to modify the production
pig iron and install two EBT electric arc furnaces of 50
capacity, one laddle furnace, one 12M radius single
caster and one 12 M radius three strand bloom caster.
1992 - During March, the company issued 74,08,765-12.5% secured
redeemable partly convertible debentures of Rs. 360 each
rights basis in the proportion of 7 debentures: 10
held. Additional 11,11,315 debentures were allotted to
- Another 3,70,438-12.5% redeemable partly convertible
of Rs. 360 each were offered to the employees on an
basis. Additional 33,412 debentures were allotted to
- Part A of Rs. 100 of each debenture will be converted
equity share of Rs. 10 each at a premium of Rs. 90 per
the end of six months from the date of allotment.
89,23,930 No. of equity shares were allotted on 14th
- Part B of Rs. 260 of each debenture would be redeemed at
five annual instalments of Rs. 52 each at the end of
7th and 10th years from the date of allotment of
1993 - A coal washery plant with a capacity of 200 tonnes per hour of
high ash contents coal was imported from W. Germany.
This was to
be used for power generation high fluidised bed
- 5,10,525 No. of equity shares out of the previous year's
issue (Balance 21,290 shares yet to be allotted).
1994 - The installation of new oxygen plant having a capacity of 80
with Argon attachment, modernisation of concast machine
- A coal washery plant to process 200 tonne per hour, high
imported from Germany was also installed. Also, another
generating unit from waste gas of the Rotary kiln was
which would generate 15 MW power.
- It was proposed to install at hot strip mill with a
roll 5 lakh tonnes p.a. and this was expected to be
- The company issued 4.25% convertible bonds for an
amount of US $ 16.50 million equivalent to 4189.79
bonds were converted into 53,91,719 No. of equity shares
price of Rs. 352 per share, subject to certain
- 8,42,175 shares issued on conversion of 1,990 Euro Bonds
of US $
5000 each at a premium of Rs. 342 per share.
1995 - The Hissar division rose by 120% while the Vasind division
produced 1,29,675 tonnes of CRCA strips. The cold
steel manufactured by the unit was successfully used in
booster rockets of dry fuel section of Polar Satellite
Vehicle launched into space in March.
- Power generation unit from waste gas of rotary kiln was
installed resulting in assured power availability of 30
steel making. In addition one waste heat recovery
boiler and a
turbine with a capacity of 15 MW was proposed to be
- Jindal Ferro Alloys Ltd. was amalgamated with the company
effective 1st April. In pursuance of the scheme of
the shareholders of the erstwhile Jindal Ferro Alloys
- 44,559 No. of equity shares issued upon conversion of
bonds of US $ 5000 each at a premium of 342 per share.
1996 - The overall performance of the company was satisfactory
the frequent shutdown taken for modernisation,
upgradation of the existing facilities, lower
realisation due to
cheaper imports and general economic slow down. The
profitability was lower because of increase in interest
higher depreciation and minimum alternate tax.
- A new steel melting shop with an EAF, AOD, LRF &
billet caster capable of producing 1,50,000 TPA of
steel was installed at Hisar division. A new descaling
being installed for effective removal of scale during
rolling. A new 4-Hi cold rolling mill capable of
material upto 1250 mm width and 5 mm thickness
other modern facilities was commissioned.
- 111,32,550 shares allotted to the shareholders of
Jindal Ferro Alloys Ltd.
1997 - Hissar Division recorded a 56% growht in production. CRCA
production at Vasind Division dropped due to depressed
2000 - The Company has appointed Andersen Consulting to conduct a
- The Vasind Division was hived off to Jindal Steel &
Alloys Limited a subsidiary
w.e.f. 01.01.2000, pursuant to a scheme of arrangement
approved by the Hon'ble
Punjab & Haryana High Court.
2001 - A Wholly owned subsidiary, Cross-Border IT (India) Ltd., is
being incorporated to provide
IT services internationally both by means of on-site
support and offshore services.
- Jindal Strips has offloaded 11 per cent stake in
Shalimar Paints to the joint-venture partner, the
Jhunjhunwala Group, based in Hong Kong. The shares were brought by
the Jhunjhunwala Group at Rs 36
per share, paying a premium of Rs 26 for each Rs 10 share
2002- Jindal Strips Ltd has informed that the Board has appointed
Shri Arvind Parakh as Director-Finance and Sh. B.P.Goyal
as Director-Projects. Both the Directors have been
appointed as Additional Whole-time Directors on the Board of the
-Promoters of Jindal Strips have hiked their stake in the company
from 35 per cent to 43 per cent. Sun Investments, the O P Jindal
group's investment company sold 3.17 per cent (6 lakh shres) to
Vrindavan Services at Rs 47.50 per share.
-Jindal Strips prepays the Foreign Currency Convertible Bonds(FCCB's)
-IFCI Ltd withdraws nomination of Mr. S Lahiri from the Board of
-Naveen Jindal, N C Mathur, Suman Jyothi Khaitan and Dr Lokesh Kumar
gave their resignation from the Board of Jindal Strips Ltd.
-Mr. Rakesh gard and Mr H V Mishra are appointed as the Additional
the Board of the company.
- Mr. Subir Bisht was with drwan from the board by icici bank ltd
- Rakesh Garg and H V Mishra are appointed as Directors in the AGM
held November 29, 2003.
-ICICI Bank Ltd has withdrawn the nomination of Mr. Subir Bisht from
the Board of Directors of the company.
- Shares of Jindal Strips Ltd delisted from Madras Stock Exchange
wef June 7, 2004.
-Jindal Strips Ltd has informed that the Board of Directors of the
Company in its meeting held on January 17, 2005, have approved change
of name of the Company to Nalwa Sons Investments Ltd subject to
shareholders approval in General Meeting of the Company.
-Smt. Savitri Devi Jindal has appionted as a Additional Director and
Chairperson of the Company.
-Company has changed its name from Jindal Strips Ltd. to Nalwa Sons
-Nalwa Sons Investments Ltd has informed that the Registered Office
of the Company has been shifted from the State of Haryana to the NCT
of Delhi, vide certificate of Registrar of Company.