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आईटीसी भद्राकलम > कंपनी इतिहास > Paper > कंपनी इतिहास का आईटीसी भद्राकलम - बीएसई: 500340, NSE: ITCBHADRA

आईटीसी भद्राकलम

बीएसई: 500340  |  NSE: ITCBHADRA  |  ISIN: INE076A01012  |  Paper

कंपनी इतिहास - आईटीसी भद्राकलम
1975
 
 - The Company was incorporated on 17th July.  The company
 manufacture
 paper and paperboard.
 
 - 7 Equity shares subscribed for by the signatories to the
 Memorandum
 of Association and 23 equity shares allotted to others.  50,000
 Pref.
 and 104,99,970 No. of equity shares offered at par through a
 prospectus
 during September 1977.  Of these equity shares reserved for
 allotment
 were:
 
 - (i) 31,99,970 to I.T.C. Ltd.,
 
 - (ii) 10,00,000 to Vazir Sultan Tobacco Co. Ltd., and
 
 - (iii) 10,00,000 to APIDC.  53,00,000 No. of equity shares and
 50,000
 preference shares offered to the public.
 
 1979
 
 - 10,650 No. of equity shares forfeited and reissued at par. 
 Arrears
 of Rs 875.
 
 1984
 
 - 68,259 No. of equity shares issued at par to financial
 institutions
 on conversion of loans.
 
 1987
 
 - An 8.81 KVA captive power generator was installed.
 
 1988
 
 - The Company launched a pilot scale project using advanced
 technology.
 
 - In November, the Company privately placed with financial
 institutions
 14% secured non-convertible debentures for a total value of Rs 4
 crores.  Steps were taken to issue non-convertible debentures for a
 further value of Rs 2.50 crores on private placement basis to
 financial
 institutions.
 
 1990
 
 - In June, due to strike by workmen for four weeks production
 dropped.
 
 - The R&D in clonal multiplication of high yielding
 disease-resistant
 planting stock received further impetus with the enhancement of mist
 chamber capacity from 25,000 rooted plants to 1,50,000 rooted plants
 per annum for vegetative propagation of genetically superior clones.
 
 - It was proposed to further augment the capacity of the chamber in
 a
 phased manner, to produce sufficient quantity of clonally multipied
 planting stocks to raise 1500 hectares of plantation every year.
 
 - The proposal of the Andhra Pradesh Forest Development Corporation
 to
 raise pulpwood plantations in the vicinity of the mill spread over
 12,000 hectares, in an eight year cycle, had received the approval
 of
 the State Government.
 
 - During October, the company issued fully convertible debentures
 under
 two schemes as follows: Under Scheme 1-zero interest secured fully
 convertible debentures of the face value of Rs 425 each for cash at
 par
 aggregating to Rs 2.28 crores on Rights basis and debentures worth
 Rs
 1.42 crores to employees under the Employees' Stock Option Scheme.
 
 - Under Scheme 2 - 12.5% secured fully convertible debentures of the
 face value of Rs 500 each for cash at par on Rights basis.
 
 - The Rights debentures were offered as follows: (i) For
 shareholding
 upto 120 equity shares, 1 debenture: 15 equity shares held; (ii) For
 shareholding upto 500 equity shares 1 debenture: 20 equity shares
 held
 and (iii) For shareholding in excess of 500 equity shares, 27
 debentures: 500 equity shares held.
 
 - The issue was over subscribed.  A total of 4,70,644-zero interest
 debentures and 2,83,566-12.5% debentures were issued.
 
 - Out of the face value of Rs 425 each of zero interest debenture,
 Rs
 175 was converted into 5 equity shares of Rs 10 each at a premium of
 Rs
 25 per share on 15th June, 1991.
 
 - Accordingly, 23,53,220 shares were allotted.  The balance of Rs
 250
 of the face value of each debenture was to be converted into four
 equity shares of Rs 10 each at a premium of Rs 52.50 per share on
 15th
 December, 1992 at the option of the debenture holders.  32
 debentures
 were redeemed and the balance of Rs 250 of the face value of
 4,70,612
 debentures was converted into 18,82,448 equity shares.
 
 - Out of the face value of Rs 500 each of 12.5% debentures, Rs 200
 was
 converted into 5 equity shares of Rs 10 each at a premium of Rs 30
 per
 share on 15th June, 1991.
 
 - Accordingly, 14,17,830 shares were allotted.  The balance of Rs
 300
 of the face value of each debenture was to be converted into four
 equity shares of Rs 10 each at a premium of Rs 65 per share on 15th
 December, 1992 at the option of the debenture holders.  34
 debentures
 were redeemed and the balance 2,83,532 debentures were converted
 into
 11,34,128 equity shares.
 
 - The Company proposed to issue equity shares (represented by Global
 Depository Receipts) and/or convertible securities and/or other
 instruments or securities by way of offerings denominated in foreign
 currency to investors outside India.
 
 1991
 
 - It was proposed to acquire future requirements of cellulosic raw
 material through NABARD - assisted farm forestry plantation
 programmes
 based on contemporary technology.
 
 - The name of the Company was changed from `Bhadrachalam Paperboards
 Ltd.' to `ITC Bhadrachalam Paperboards Ltd.' with effect from 30th
 August.
 
 - 23,53,220 No. of Equity shares (Prem. Rs 25) and 14,17,830 No. of
 equity (prem. Rs 30) were allotted on par conversion of zero
 interest
 debs. and 12.5% debs. respectively.
 
 1992
 
 - 93,15,000 farmers were involved in the assisted farm-forestry
 plantation programme which covered more than 15,000 acres of land by
 fast growing eucalyptus plantation.
 
 - 18,82,448 No. of Equity shares (prem. Rs 52.50 per share) and
 11,34,128 No. of equity shares (prem. Rs 65 per share were allotted
 on
 15.12.1992 in conversion of zero-interest debs. and 12.5% debs.
 respectively.
 
 1993
 
 - The Company issued 86,80,488 No. of equity shares of Rs 10 each at
 a
 premium of Rs 90 per share on rights basis in the proportion of 1:2.
 
 - Another 3,98,600 No. of equity shares of Rs 10 each at a premium
 of
 Rs 90 per share were offered to the employees of the Company.
 
 - Simultaneously the Company also proposed to issue on preferential
 basis 10,000 No. of equity shares of Rs 10 each at a premium of Rs
 90
 per share to non-executive directors of the Company.
 
 1994
 
 - The Company through introduction of a new State-of-the-art
 paperboard
 machine with a capacity of 1,20,000 TPA undertook upgradation and
 modernisation programme.
 
 - The company also embarked upon a major energy project, comprising
 installation of a modern atmospheric fluidised bed cumbustion boiler
 with a capacity of 80 tonnes per hour with co-generation and
 condensation ranging from 15 to 21 MW.
 
 - 264,27,923 Bonus Equity shares issued in propn. 1:1.
 
 1995
 
 - The Company was in the process of concluding a forestry
 co-operation
 agreement with Jaakko Poyry, International consultants for the paper
 industry, to support them as consultants for the Forestry
 Development
 Project of Maharashtra.
 
 - ITC Bhadrachalam Finance & Investments Ltd. is a subsidiary of the
 Company.  ITC Bhadrachalam Securities Ltd. deemed to be a subsidiary
 of
 the company as it become subsidiary of ITC Bhadrachalam Finance
 Investment Ltd. during December.
 
 1996
 
 - 158,62,807 No. of equity shares (prem. Rs 90 per share) issued on
 rights basis in prop. 3:10 of which 7,075 shares kept in abeyance.
 
 1998
 
 - 19,120,000 No. of equity shares of Rs 10 each (prem. Rs 65 per
 share)
 and 25,72,000 pref. shares of Rs 100 each allotted on pref. basis to
 the promoter ITC Ltd.
 
 - ITC Bhadrachalam Paperboards Ltd has recently commissioned a
 state-of-the-art paper machine that manufactures coated capital
 outlay
 of Rs.640 crore.  This machine has a capacity of 1,20,000 tpa which
 can
 be extended to 1,50,000 tpa.
 
 - The performance of the company was affected by the delayed
 commencement of its expansion project and also by the sluggishness
 in
 the paper industry.
 
 - The rating assigned to the fixed deposit programme of ITC
 Bhadrachalam Paper Boards Ltd (ITCBL) has been downgraded from AA to
 A+
 by the Credit Rating Information Services of India Ltd (Crisil),
 indicating adequate safety.
 
 1999
 
 - The company is poised to introduce branded products for the first
 time in the domestic and international markets.  Three products are
 apparently now under test and are planned to be targeted at the FMCG
 sector.
 
 2001
 
 - A fire damaged ITC Bhadrachalam Paperboards' plant at Bhadrachalam
 in
 Andhra Pradesh.
स्रोत: रेलीगरे टेचनोवा

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