Seshasayee Paper and Boards Ltd.

YEAR                       EVENTS
 1960 - The Company was incorporated on 22nd June, at Chennai.  The
        Company's object is to manufacture Paper and boards and in
        particular the manufacture of paper-pulp, wood-pulp and 
        fibrous-pulp of all descriptions, cellulose and other
 materials
        required by the company.
 
 1961 - Issued 10,50,000 shares to promoters, etc. and collaborators
 and
        10,00,000 shares to TIIC.  14,50,000 shares offered to public
 in
        Sept. 1960.
 
      - Final call of Rs.2.50 per share was made payable by July.
 
 1976 - 17,50,000 Bonus shares issued in prop. 1:2.
 
 1987 - 10,00,000 shares allotted on private placement basis.
 
 1989 - The first three months of production was affected due to
        unprecedented power trippings, operations during the second
 half
        was stabilised enabling the company to bring down its loss.
 
      - 10,00,000 shares allotted at par to financial institutions on
        29.5.1989 in conversion of funded interest.
 
 1991 - 10 lakh No. of equity shares of Rs.10 each issued on private 
        placement basis (of these 4 lakh shares issued to shareholders
 on
        preferential basis in the prop. of 20% of their shareholding).
      
 1992 - Though sales in terms of value at Rs.89.99 crores was 
        substantially higher, in terms of volume it declined due to 
        recession hot market conditions together with non-availability
        of bank credit to major segments of the trading community.
 
      - 18,00,000 shares issued to shareholders and employees.  
 
 1993 - During October-November, the company issued 16,50,000 No. of 
        equity shares of Rs.10 each for cash at a prem. of Rs.10 per 
        share on Rights basis in the prop. 1:5.  (all were taken up).
 
      - Another 1,50,000 shares of Rs.10 each were offered at a prem.
 of
        Rs.10 per share to employees on an equitable basis (all were
        taken up).
 
      - Also 12,00,000 No. of equity shares of Rs.10 each were issued
        at a prem. of Rs.15 per share to an overseas corporate body
        viz. M/s. Synergy Investments Plc. Ltd. Singapore.
 
      - The Company undertook to set up a power project which
 envisaged 
        installation of 
 
      - (i) 2 nos. 750 KVA DG sets to supplement captive requirements,
 
      - (ii) 110 KV sub-station to ensure stabilised drawal of power,
        
      - (iii) Singlefluid boiler that can be operated on multifuels so
        as to reduce the overall cost of self generated power.
 
      - Subject to necessary approvals being obtained the company 
        proposed to issue 12,50,000 convertible warrants of Rs.90 each
        to promoters on preferential basis.  These warrants were to be
        converted into equity shares of Rs.10 each at a prem. within
 18
        months from the date of allotment.
 
 1994 - The Company entered the business of leasing after obtaining
        necessary approvals.
      
 1995 - The company undertook an expansion/modernisation plan costing 
        Rs.300 crores, to double the installed capacity from 60000 TPA
        to 150000 TPA and also to upgrade the entire steam and power
        system to an energy efficient high pressure system so as to
 make
        the mill achieve 100% self sufficiency in the power front.
 
      - Letters of intent for the same were received from the
 financial
        institutions for an aggregate amount of Rs.155 crores.  The 
        major equipments were imported from Germany.
 
 1996 - Gross sales realisation also declined due to lower quantum of
        production coupled with lower per tonne sales realisation due
 to
        sluggish market conditions.
 
 
 2007
 
 -Seshasayee Paper & Boards Ltd has appointed Sri. Vishwanath
 Shegaonkar, IAS, representing Government of Tamilnadu, as a Director
 of the Company in the casual vacancy caused by the withdrawal of
 nomination of Sri. Surjit K Chaudhary, IAS.
 
 2008
 
 - Seshasayee Paper And Boards Ltd has informed that the Board of
 Directors of the Company at their meeting held on July 26, 2008, has
 appointed Tmt Sheela Rani Chunkath I A S, Chairman & Managing
 Director, The Tamil Nadu Industrial Investment Corporation Limited,
 Chennai as a Nominee Director of the Company in the place of Sri S K
 Prabakar I A S. Further the Board also appointed Dr N Sundaradevan I
 A S, representing Government of Tamil Nadu as a Director of the
 Company in the place of Sri R Rajagopal I A S.
 
 2009
 
 - Seshasayee Paper And Boards Ltd has informed that the Board of
 Directors of the Company at their meeting held on March 28, 2009 has 
 1) Re-appointed Shri.N. Gopalaratnam, as Chairman & Managing
 Director for a term of 5 years from April 01, 2009. 
 2) Appointed Sri. Debendranath Sarangi, IAS, representing Government
 of Tamil Nadu as an Additional Director of the Company in the place
 of Dr. N Sundaradevan IAS.
 
 - Seshasayee Paper & Boards Ltd has informed that the Board of
 Directors of the Company at its meeting held on June 04, 2009, has
 appointed Sri. V Sridar, as an Independent Director of the Company.
 
 2010
 
 -Seshasayee Paper and Boards Ltd has recommended payment of a
 Dividend at Rs. 3.50 per equity share
 
 2011
 
 -Seshasayee Paper and Boards Ltd has acquired M/s Subburaj Papers
 Private Limited
 
 2012
 
 -Seshasayee Paper and Boards Ltd has recommended payment of a
 dividend at Rs. 5/- (Rupees five only) per equity share of Rs. 10
 each
 
 2013
 
 -Seshasayee Paper and Boards has recommended payment of dividend at
 Rs. 4 per Equity Share of Rs. 10 each for the year 2012-13.
 -Company have acquired 100% equity shares of M/s. Esvi International
 (Engineers & Exporters) Limited.
 
 2014
 
 -R V Gupta has been appointed as an Independent Director on the Board
 of the Company.
 -Company has recommended payment of a dividend at Rs. 4 per equity
 share of Rs. 10 each.
 
 2015
 -Seshasayee Paper - Mill Development Plan.