Company History - RSWM
1960 - The Company was incorporated on 17th October, at Calcutta.
main objective of the company is to manufacture cotton yarn
cloth, staple and viscose yarn and polyester blended yarn.
1961 - Issued 45,000 No. of equity shares to directors, etc. and
Pref. and 20,000 No. of equity shares to Rajasthan Govt.
Pref. and 1,75,000 No. of equity shares offered to public to
1970 - Issued 1,31,449 Bonus equity shares in the prop. 3:10.
1973 - 3,06,716 bonus equity shares issued in the prop. 7:13.
1976 - 2,20,000 No. of equity shares allotted at par to financial
institutions on conversion of loans. 10,96,430 bonus equity
shares were then issued in the prop. 1:1.
1978 - 6,000-9% Pref. shares redeemed. 30,000-11% Pref. shares
to GIC and its subsidiaries. 11% Pref. shares redeemable
1980 - The company received a letter of intent for the manufacture
polyester sewing thread with an annual capacity of 120
Collaboration agreement was entered into with Zwicky & Co.,
- 92,500 equity shares allotted at par to financial
on conversion of loans.
1981 - 7,62,398 bonus equity shares issued in prop. 1:3.
1986 - The Company received registration for a sponge iron project.
Letters of intent were received for the setting up of;
- (i) a 12,000 spindles worsted spinning project and
- (ii) process house for processing 240 lakh metres of
shirtings, sarees and dress material.
1987 - The labour trouble of July/September settled down.
- The company undertook another modernisation programme the
machinery installed including the latest autoconers with
and electronic yarn cleaning arrangements and two for one
twisters along with latest carding machines.
1990 - 6,912 spindles were added in the Banswara Unit.
1991 - 30,49,593 bonus shares issues in the prop. 1:1.
1992 - The company undertook expansion of spindles of polyester
yarn at Banswara to increase its installations of P/v
from 18,576 to 27,792 nos. Also another project for
of P/c yarn was undertaken at Banswara by installing 9,216
- The Company undertook to install 9,216 spindles at Bhilwara
manufacture of milange yarn.
- Memorandum of Understanding was signed with the Madhya
Government for beneficiation of 2000 TPD of rock phosphate
integrating it to manufacture of single phosphoric acid,
phosphate and di-ammonium phosphate.
- The Company has entered into a Memorandum of understanding
RIICO for putting up a Granite Processing Plant in Rajasthan
has taken four mining leases for granite.
1993 - The company had signed two MOUs with Himachal Pradesh
for implementing the 86 MW Malana and 180 MW Allain Duhangan
projects located in district Kullu in H.P. The project is
proposed to be set up as a division of the company.
- Bhilwara Melba De Witte Ltd is a joint venture between the
company and its Australian and Belgian partners.
1994 - 10,368 spindles on polyester blended yarn were installed and
commissioned at Kharigram unit. Later Rieters from
Autoconers from Schlaforst (Germany) and Two-for-One Twister
from S. Korea were installed. Also 24 Sulzer weaving looms
- The company installed singeing machine from Parex, UK, KD
from Biella (Italy), Contifit from Menschner (Germany) and
obtained dyeing technology from S. Korea for manufacture of
`Mayur' fabrics which matches world best processed fabric.
- The major work was undertaken for setting up a project for
manufacture of polyester staple fibre to produce 80,000 TPA.
- The company along with its group company HEG Ltd. and in
partnership with a US based Cellular company is to promote
Bhilwara Cellular Ltd.
- The company along with RSW International, Montreal, Canada
promoted (on a 50:50 basis), a consultancy company with an
initial equity share capital of Rs. 63 lakhs.
- 60,09,186 bonus shares issued in prop. 1:1. 20,67,875 equity
shares allotted at a prem. of Rs. 145 per share to promoters;
directors etc. on preferential basis. 20,67,835 bonus equity
shares allotted. Prop. 1:1 as above pref. issue. 35,50,000
equity shares allotted in private placement basis to
Institutions & Mutual Fund.
- The Company has also signed a MOU with M/s. Hydro Quebec
International, Canada for implmentation of these projects.
1995 - The company has entered into negotiations with Dominion
Inc., Canada, for 51:49 partnership for setting up an
24 mn. mtrs. per annum high value added Denim manufacturing
facility in Madhya Pradesh.
1996 - The overall performance of the company improved due to higher
volume of sales, better product-mix and improvement in
techno-economic parameters despite continuous fluctuation in
prices owing to fall in polyester staple fibre.
- The company was planning to complete expansion plans by
9,360 spindles at Melange unit for manufacturing fancy dyed
cotton yarn and 8 Airjet looms at Gulabpura to take care of
increased requirement of fabric exports. The company also
to add some two-for-one twisters at Banswara unit to increase
- The Company's strategy of high value added product
diversification, it has entered into a 50:50 Joint Venture
with Australia's leading manufacturer of Automotive
fabrics - CALUM AUSTRALIA PTY. LTD., to manufacture their
product range in India, with a capacity of 1.8 million. mtrs.
1997 - It was also proposed to install 16 airjet looms at Gulabpura
besides modernisation of spinning division. It was also
to implement a balancing scheme and further expansion of
polyester cotton spinning at Banswara.
- The company set up a separate power division and the power
division was to set up two power plants of capacity 4.2 MW
at Gulabpura and Banswara. These power plants are to be
commissioned by May 1993.
- Subject to necessary approvals being obtained the company
proposed to amalgamate Bhilwara spinners Ltd. with itself.
- The Compny has entered into joint venture agreement with
$110-million Calum Australia Pvt. Ltd. and $125-million De
Lietaer of Belgium for manufacture of automotive furnishing
1998 - Malana Power Company Limited the wholly owned subsidiary of
Company proposes to wheel the power from Himachal Pradesh to
Rajasthan for captive consumption by the LNJ Bhilwara Group
2000 - The Company has signed separate agreements with NSDL and CDSL
facilitate all types of investors to hold and trade in the
company's equity shares in dematerialised (electronic) mode.
-Rajasthan Spg. & Wvg. Mills Ltd. has informed that on request of the
company for voluntary delisting of its equity shares, the company has
received communication from The Delhi Stock Exchange Association
Limited (DSE) that the equity shares of the company have been
delisted from the stock exchange (DSE) w.e.f. December 29, 2003.
-Rajasthan Spg foray into readymade garments
-Company has changed its name from Rajasthan Spg. & Wvg. Mills Ltd.
to RSWM Ltd.
- Shri Arun Churiwal has been re-appointed as Managing Director.
-RSWM Ltd has has recommended 100% i.e. Rs. 10/- per share dividend
on Equity Shares.
-RSWM Ltd has has recommended 125% i.e Rs. 12.50 per share dividend
on Equity Shares.