Sharp Industries Ltd.

YEAR                       EVENTS
 1988 - The company was incorporated on 9th March, at Mumbai, and
        obtained the Certificate of Commencement of Business on 29th
        March.  It was promoted by Ishwarlal Dang, Ranchodbhai Patel
 &
        Madan Dhavan who were running two small scale units known as
        Sharp Prints Pvt. Ltd., and Swift Packaging Pvt. Ltd.,
        manufacturing flexible packaging material.  These 2 units
 were
        amalgamated with the company w.e.f. 1st April.
 
      - The main objectives of the company is to manufacture printing
        packaging material & rotogravure printing cylinder used in
 the
        process of printing, copying etc.  The company also exports
 its
        products.
 
      - The company had undertaken a project to expand the installed
        capacity of flexible packaging material to 3,000 tonnes per
 annum
        and also to shift the plant from Goregaon to Vasai.  As a
 measure
        of backward integration facilities to manufacture 7,200
 mumbers
        per annum of rotogravure cylinders were being set up at Vasai.
 
 
      - The main plant for flexible packaging materials was acquired
 from
        David Hulme Machinery of U.K. and automatic bottom sealing 
        cutting Machine from Nishibe Kikai Company Ltd of Japan.  The
        main plant for rotagravure cylinder project was being
 imported
        from Aicigraph Graphic Equipment of Italy & other major
 machinery
        from Dainippon Screen Singapore Pvt. Ltd., of Singapore.
 
      - 28,687 shares taken up by promoters, directors, etc. 
 Allotted
        63,868 shares to Sharp Prints Pvt. Ltd. without payment in
 cash
        upon their marger.
 
 1989 - 53,700 shares taken up by promoters directors, etc.
 
 1990 - The company also acquired the assets & liabilities of Angel 
        Plastics Ltd (APL) as on 1st March.  APL had set up a plant
 for
        the manufacture of 2,100 TPA of multilayer co-extruded cast
 film
        at Waluj, Aurangabad with technical knowhow and supply of
 plant &
        machinery from Reifenhauses of West Germany.  Production
        commenced on 29th March.
 			
      - The Company issued 11,40,923 - 12% secured fully convertible
        debentures of Rs. 110 each for cash at par, to the equity
        shareholders on rights basis in the ratio of one debenture
 for
        four equity shares held.
 
      - Part `A' of Rs. 50 of the face value of each debenture will
 be
        compulsorily and automatically converted into two equity
 shares
        of Rs. 10 each as fully paid-up at a premium of Rs. 15 per
 equity
        share on the date of allotment of debenture.
 
      - Part `B' of Rs. 60 of the face value of each debenture will
 be
        compulsorily and automatically converted into two equity
 shares
        of Rs. 10 each as fully paid up at a premium of Rs. 20 per
 equity  
        share on completion of 15 months but before 18 months from
 the
        date of allotment.  22,81,846 No. of equity shares allotted
 on
        conversion of Part `A' of Rs. 60 each 12% Right fully
 convertible
        debenture.
 
      - Equity shares of Rs. 100 subdivided into shares of Rs. 10 each
 in
        May.  6120 shares of Rs. 10 each taken up by promoters etc.
        24,00,000 shares of Rs. 10 each then issued at par of which
        10,00,000 shares were reserved and allotted on a firm basis
 to
        Indian resident directors, their friends and relatives.  
 
      - Out of the remaining 14,00,000 shares 1,20,000 shares were
        reserved for preferential allotment to employees/workers of
 the
        Company as also those of promoter companies.  (All were taken
 
        up).  The balance 12,80,000 shares offered for public
        subscription during November.  
 
      - Additional 3,60,000 shares allotted to retain
 oversubscription
        (1,50,000 to promoters, directors etc., 18,000 to employees
 and
        1,92,000 to public).
 
 1992 - The Company created Debenture Redemption Reserve by
 transferring
        Rs. 12.00 lacs as per the terms and conditions of
 Subscription
        Agreement entered into between the Company and Unit Trust of
        India in respect of 21% Secured Non-Convertible Debentures
        aggregating to Rs. 125 lacs issued on private placement basis.
  
 
 1994 - The 2nd November, the company allotted 4,89,000 shares on
        preferential basis to FIIs/NRIs and/or bodies corporate on a
        private placement basis in term of the SEBI Guidelines dated
 4th
        August.
 
      - 4,00,000 free warrants allotted on private placement basis
 with a
        right to warrant holders to apply for one euqity share
 against
        each warrant at a price of Rs. 40 (Rs. 40 towards capital and
 Rs.
        30 towards premium).
 
 1995 - The Company is setting up the joint venture project for 
        manufacture of Flexible Packaging material at Poland viz.
        Sharp-Hanmar Ltd. in collaboration with (1) Mr. Marcin Kowal
 (2)
        Caresbac-Polska S.A. (3) Fundacja Rozwoju Gminy Kleszczow. 
 
 1996 - The Company launched a drive for making Zero defect high
 quality
        products for quality conscious multinationals and export
 markets.
 
      - The company has recently entered into long term sales
 agreement
        with the multinationals for meeting major portion of their
        requirements.
 
 1997 - Sharp Industries, a domestic water pumps manufacturing
 company,
        has obtained the ISO 9002 quality certification from SGS.
 
 2000 - Sharp Industries proposes to merge with Akar Laminators and
        Vishnu Vijay Packagers.
 
         - The company proposed amalgamation of Akar Laminators Ltd.
 and
          Vishnu Vijay Packagers Ltd. with the company.
 
 2012
 
 - Email ID: info@sharpindustries.org