History of Ahmednagar Forgings Ltd.

YEAR EVENTS 1977 - The Comp. was incorporated on 21st March & it reserved the Certificate for commencement of Business on April 1st. It was promoted by a group of technicals consisting of U.V. Patel, M.S. Aruna and J.S. Mody. The Company plants are located at D-95, MIDC Industrial area Ahmednagar, at Taluka Khed, Dist. Pune.

- The company objects is to manufacture of closed die steel forgings.

- The Comp. had undertaken an expansion programme for steel forgings in automobiles as well as in general engineering industry, the Comp. had undertaken an expansion programme by selling up a new plant at Chakan near Pune with an invesment of Rs.580 lakhs.

1992 - The Comp. acquired assets of sick unit in Ahmednagar from SICOM to manufacture cold forgings. The unit remained as Asian Auto Parts, a division of Ahmednagar Forgings limited

1993 - The Comp. undertook to set up its fourth unit at Kuruli Mar Chankan in modern press forgings line.

1994 - 6,08,000 No. of equity shares allotted 15,20,000 shares were issued to the promoters in prop. 5:2. 9,12,000 No. of equity shares were issued at a prem of Rs.13 per share through a prospectus during January 1992 of which 45,600 shares issued to employees [all were taken ups]. Balance 8,66,400 shares issued to the public.

1996 - 9,60,000 No. of equity shares at a prem. of Rs.165 per share to Financial Institution on private placement basis in March 1995. Another 40,00,000 shares issued as bonus shares on 26.5.1995 in prop. 1:1.

1997 - Two presses were commissioned & the third one was to be commissioned soon.

2004

-Ahmednagar Forgings Ltd has informed that the equity shares of Comp. have been delisted from Pune Stock Exchange Limited wef January 16, 2004.