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Revathi CP Equipment > Company History > Compressors > Company History of Revathi CP Equipment - BSE: 505368, NSE: REVATHI
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Revathi CP Equipment

BSE: 505368|NSE: REVATHI|ISIN: INE617A01013|SECTOR: Compressors
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Company History - Revathi CP Equipment
YEAR                       EVENTS
 1977 - The company was incorporated in the year 1977.  The object of
 the
        company is to manufacture water well detailed and spares and
        accessories thereof and allied products etc.  It was promoted
 by
        RMT Drill Private, Ltd.
 
 1980 - 200 No. of equity shares subscribed for by the signatories to
 the
        Memorandum.  5,120 Pref. and 1,59,800 No. of equity shares
        allotted without payment in cash to RMT Drill Pvt. Ltd.
        (promoters).  In April 1978, 14,880 Pref. and 4,40,000 No. of
        equity shares issued: 2,40,000 No. of equity shares reserved
 for
        allotment to Chicago Pneumatic Tool Co. New York, USA and
 balance
        offered for public subscription.  Pref. shares redeemable
 after
        12 years but before 15 years from the date of allotment.
 
 1983 - In order to expand the product-range, the Company took up
        development of lighter water well drills.
 
 1985 - The Company privately placed with UTI, 15% non-convertible
        debentures for a total value of Rs 75,00,000 to meet the
 working
        capital requirements.
 
 1986 - In March 1986, 2,10,000 No. of equity shares offered at a
 prem.
        of Rs 10 per share of which 2,00,000 shares offered to the
 equity
        shareholders as rights in pro. 1:3 (all were taken up) and
 the
        balance of 10,000 shares offered to the employees of the
 company
        under Stock Option Scheme (only 2,450 shares taken up).  The
        unsubscribed 7,550 shares of the employees' quota allowed to
        lapse.
 
 1987 - 8,02,450 bonus shares issued in prop. 1:1 during December
 1987.
 
 1990 - In order to meet the increased demand for drilling rig, the
        Company undertook an expansion of production and other
        facilities.  This was commissioned during the first week of
 April
        1992.
 
 2002
 
 -The Utkal Investments has acquired 40 % stake held by Atlas Copco
 group, in Revathi Equipments Ltd for Rs 29.95 crore.
 
 
 2004
 
 -The Coimbatore-based Revathi Equipment Ltd has invested in a
 windmill project in Rajasthan and entered into a long-term power
 purchase agreement (PPA) with the Rajasthan State Electricity Board
 for the sale of wind energy. 
 
 2005
 
 -The company has entered into an agreement with Bucyrus International
 Inc., USA for manufacturing and selling drilling rigs.
 
 2006
 
 -Revathi Equipment Ltd has informed that the Company has acquired 26%
 in the equity capital of Monarch Catalyst Pvt Ltd, Mumbai, which is
 engaged in the manufacture of process technology catalyst, for a
 consider of Rs 62.40 million.
 
 -The Company has recommended a dividend of Rs 10/- per share.
 
 2007
 
 -Revathi Equipment Ltd has informed that the Company has acquired 40%
 stake in the equity share capital of M/s. Potential Service
 Consultants Pvt Ltd, Bangalore, a Company providing Engineering
 design solutions in the field of construction industry.
 
 -The Company has recommended a dividend of Rs.10/- per share.
 
 2008
 
 -The Company has recommended dividend of Rs 10/- per share.
 
 -The Company has acquired 70% in the equity capital of Semac Pvt Ltd,
 Bangalore, a Company providing Engineering design solutions for
 industrial / commercial and infrastructure constructions.
 
 2009
 
 -Revathi Equipment Ltd has informed BSE that the Company has
 additionally acquired 11% in the equity capital of Potential Service
 Consultants Pvt. Ltd., Bangalore, a Company providing Engineering
 design solutions in the field of construction industry.
 
 2010
 
 -REL commission new manufacturing facility.
 
 -The Company has acquired 20% in the equity capital of Satellier
 Holdings Inc, USA.
 
 2012
 
 -Mr. S Hariharan has been appointed as Whole-time Director of the
 Company.
 
 2014
 
 -Revathi Equipment Ltd Mr.M.Poongavanam and Mr.Kishore Sidhwani as
 been appointed as independent directors of the company.
 
Source : Dion Global Solutions Limited
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