1971 - The company was incorporated on 15th December, at Allahabad.
company was promoted by Shri S.N. Agarwal who was associated
the first sheet glass plant in the country set up at Bahji
four decades ago.
- The main objective of the company is to manufacture glass and
glass products of all types, particularly sheet glass by
(Pittsburg Plate Glass) process.
- All shares were taken up by promoters, directors, etc.
1973 - 6,30,000 No. of equity shares offered at par for public
subscription through a prospectus in June.
1978 - 12,100 No. of equity shares forfeited. 1,83,810 No. of
shares allotted at par to financial institutions on
1979 - Forfeiture of 1,700 No. of equity shares annulled.
1980 - Forfeiture of 350 No. of equity shares annulled.
1987 - The company undertook a project (plant No. 4) for manufacture
tinted and white sheet glass with annual capacity of 16 Lakh
1990 - Production and sales suffered due to strike by workmen for
and half months and high cost of inputs.
- The company undertook a project for the manufacture of
glass tube and rod with an annual capacity of 4000 tonnes
1991 - All the other plants except plant No. 2 were not in operation
to strike at the factory and the resultant repairs of
Production and sales improved substantially and as such
operating results were achieved despite increase in the input
- The project for manufacture of neutral glass tubes with
electric furnace was dropped because of serious foreign
crunch in the country. On further consideration it was
to implement the project with oil fired furnace.
- The Company also undertook the implementation of figured
glass manufacturing plant at Rajahmundry in Andhra Pradesh.
1992 - Record production and sales was achieved with production of
glass on 2mm basis and figured and wired glass on 3mm basis
improving substantially to 107,98,730 sq. mtrs. and 26,25,010
sq. mtrs. respectively. Production of natural glass tubes
547 tonnes and a higher production was marred due to some
- The company proposed to implement a project at Allahabad for
manufacture of float glass by Chinese Luoyoang float process
with a capacity of 200 tonnes per day. An agreement was
into between the company and Chinese National Machinery Import
Export Corporation, Beijing for supply of major plant and
machinery and technical know-how.
- Legal suits in connection with the take over of management of
Kratar Glass Works Ltd. was still pending in the court of
The Company filed a petition for winding up of Kartar Glass
- As per the scheme of rehabilitation approved by BIFR, the
agreed in principle to the scheme of waiver of 50% of the
and acceptance of the balance in 36 equal instalments.
Commencing after 24 months from the date of recommissioning
the plant retaining the right to continue with the legal
proceedings against Kartat Glass Works Ltd. in case of the
scheme of BIFR fails.
- 11,73,760 bonus equity shares allotted in prop. 1:1.
1994 - In October, for financing the float glass project, the
issued 39,12,534 No. of equity shares of Rs. 10 each for cash
a premium of Rs. 60 per share in the ratio of 5 shares for
3 shares held to the existing shareholders aggregating Rs.
lakhs alongwith 39,12,534 detachable and fully tradeable
to be converted into equity shares of Rs. 10 each for cash at
premium of Rs. 70 per share.
- Simultaneously, 16,62,300 No. of equity shares of Rs. 10 each
a premium of Rs. 90 per share for Indian public/FIs and Rs.
per share for NRIs/OCBs aggregating Rs. 1731.20 lakhs were
- 55,68,959 No. of equity shares allotted on account of the
and public issue.
1995 - 133 right equity shares kept in abeyance were allotted.
No. of equity shares (prem. Rs. 70) were allotted on
of detachable and freely tradeable warrants.
1996 - BIFR recommended winding up of Kartar Glass Works Ltd. and
were taken to submit the company's claims before the High
- Implementation of the expansion project at Rajahmundry for
manufacture of figured glass was stopped due to paucity of
- Appointment of Company Secretary cum Compliance Officer Ms Sushma
Membership Num A34410 an Associate member of the Company.