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सीकल्स > कंपनी इतिहास > Castings & Forgings > कंपनी इतिहास का सीकल्स - बीएसई: 505823, NSE: SECALS

सीकल्स

बीएसई: 505823  |  NSE: SECALS  |  ISIN:  |  Castings & Forgings

कंपनी इतिहास - सीकल्स
YEAR                       EVENTS
 1970 - The Company was incorporated on 21st September as a private
 Ltd
        Company by the name Secals Pvt. Ltd. & Converted into a
 Public
        Ltd. Company on 24th September 1971.  The main object of the
        Company is to manufacture cast tools and high alloy steel
        castings.
 
      - The Company has entered into two agreements for
 collaborations
        with Latrobe Steel Company  Latrobe, Pennsylvania, U.S.A.,
 and
        another agreement with Unicast Development Corporation of New
        York, U.S.A.  Agreement with Latrobe provided for the grant
 of
        technical know-how to the Company for the manufacture of
        precision cast tools and components thereof.  Latrobe also
 agreed
        to transfer and assign to the Company all its rights and
 interest
        in the licensed process.
 
      - The Unicast Development Corporation, U.S.A., under the
 agreement
        with them granted to the Company, a non-transferable and
        non-exclusive licence to employ ceramic moulding process for
 the
        casting of metal known as Unicast process.  Unicast
 Development
        Corporation also agreed to render to the Company technical
        information and know-how for the said process as well as
 further
        improvements in it.
 
 1973 - 20,000 shares reserved for allotment to TIIC.  1,00,000
 shares
        offered for the public in Aug.
 
 1976 - Equity shares fully paid-up.
 
 1981 - 2,50,000 shares issued at par: 85,100 shares as rights in
 prop.
        1:2; 49,900 shares to promoters, etc.; 30,000 shares to
 SIPCOT
        and 85,000 shares to financial institutions.
 
 1982 - The working results were adversely affected due to massive
 power 
        cut and a strike in the factory.
 
 1983 - Production was adversely affected by power cuts and shortage
 of
        working capital.
 
 1984 - The Company was forced to limite its output particularly of
 high
        alloy castings on which the margins were higher.  As a
 result,
        despite higher production and sales, the working was
        unprofitable.
 
 1985 - 1,05,400 No. of equity shares issued at par by private
 placement.
 
 1986 - The Company also took steps to augment its income through
        trading.
 
      - 24,600 shares allotted at par privatley on 21st November.
 
 1988 - A Technical collaboration agreement and a distributorship
        agreement was signed with National Castings Inc. USA to
 upgrade
        the technology.
 
      - 49,800 shares allotted at par privately on 28th January.
 
 1989 - The Company made good progress in terms of increased
 production,
        sales and profitability.
 
      - An exclusive selling arrangement was entered into with M/s.
 Feat
        Commercial of Italy for steel, alloy steel, stainless steel
 and
        ferous castings.
 
      - The Company installed an additional 3 tonnes medium frequency
        induction melting furnace to increase production.
 
 1990 - Considerable progress was made in increasing the capacity
 from
        2,000 to 7,000 tonens per annum.
 
 1991 - The Company offered 6,00,000 No. of equity shares as rights at
 a
        premium of Rs. 20 per shares in the proportion 1:1. 
 Additional
        90,000 shares were allotted to retain oversubscription.
 
      - Another 30,000 shares at a premium of Rs. 20 per share issued
 to
        employees under the Employees' Stock Option Scheme (All were
        taken up).
 
      - Simultaneous to the above issue, the Company offered
 60,000-14%
        secured fully convertible debentures of Rs. 150 each on
 Rights
        basis in the proportion 1 deb: 10 equity shares held (all
 were
        taken up).  Additional 9,000 debentures allotted to retain 
        oversubscription.
 
      - Also, another 3,000-14% debentures issued to employees on an
        equitable basis (all were taken up).
 
      - Each Debenture is to be converted into 5 equity shares of Rs.
 10
        each at a premium of Rs. 20 per share on the expiry of 12
 months
        from the date of allotment of debentures.
स्रोत: रेलीगरे टेचनोवा

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