History of Asahi India Glass Ltd.
YEAR EVENTS 1985 - Asahi India Safety Glass Ltd was incorporated on 31st December. The Comp. manufactures toughened glass. The Comp. was initially know as 'Indian Auto Safety Glass Private Limited' and the name was changed to 'Asahi India Safety Glass Ltd.,' upon the conversion into a Public Limited Comp. on 31st December 1985. It was promoted by Asahi Glass Comp. Limited of Japan, Maruti Udyog Ltd,. The Indo-Asahi Glass Co. limited & R.M. Labroo and Associates. It proposed to manufacture 2.6 lakhs sq. mtrs. of toughened glasses for solar panels & T.V. building machinery.
- Asahi Glass Comp. Limited Japan, agre details & training to the Comp. personnel against a lump sum fee of Japanese Yen 50 Million.
1987 - The Comp. proposed to install an additional furnace to increase its production capacity.
- 9,87,601 shares, were subscribed for by promoters, directors, etc. 8,62,399 shares then issued at par out of which the following shares were reserved & allotted: [is] 2,399 shares to promoters, directors, etc. [iis] 60,000 shares to NRIs on repatriation basis & [iiis] 60,000 shares to NRIs on non-repatriation basis. Out of remaining 7,40,000 shares the following shares were reserved for preferential allotment; [is] 92,500 shares to employees, etc. of Comp. [only 2,700 shares taken ups] & [iis] 14,800 shares to business associated of the Comp. [all are taken ups]. The Balance 6,32,700 shares, 89,800 shares not taken up by employees, were offered to the public in April 1987.
1988 - 17,200 No. of equity shares forfeited on 22nd March, of which 16,500 shares were reissued.
1989 - A new furnace was installed. After complying with the demand of Maruti Udyog Ltd., the Comp. proposed to utilize its additional capacity for production of tempered glass for other automobile manufacturers. The Comp. installed a printing line for production of glasses with black ceramic printing & with heat - lite printing.
1991 - 500 shares forfeited in 1990-91 were reissued at par in 1991-92.
1992 - The Comp. undertook to implement a project to manufacture laminated safety windshields.
- 250 shares of Rs 10 each allotted.
1996 - Comp. has successfully implemented expansion of installed capacity in the laminated plant to 7,50,000 windshields & in tempered plant to 1137000 sq. mtrs.
2000 - The Rs 10-crore commercial paper programme of Asahi India Safety Glass limited has been assigned an `A1' rating, indicating highest safety.
2001 - The Comp. has entered into a joint venture with one of its distributors, Map Auto, & will make trade investment in & acquire 1,00,000 equity shares in Map Auto Glasses.
- Asahi India Safety Glass Ltd [AISGLs] is making an offer to shareholders of Float Glass India Ltd [FILs] to acquire up to 85,15,015 shares at Rs 11 per share.
- Asahi India Safety Glass Ltd has informed BSE that the Board of Directors of Comp. at its meeting held on October 1, 2001 interalia approved the Allotment of 37,00,000 equity shares of Rs 10/- each as fully paid-up Bonus shares in the Comp. with effect from October 1, 2001
2002-
Gautam Thapar appointed as Additional Director of Asahi India Safety Glass.
2003
-The Board of Asahi India Glass limited approves for re-appointment of Mr. P L Safaya as the Whole Time Director.
-Mr Yuji Hara gives his resignation on the Board of Asahi India Glass Ltd.
-Floatglass India Ltd.has amalgamated with the company.
-Board approved de-listing of equity shares of Comp. from The Stock Exchange, Ahmedabad, The Calcutta Stock Exchange Association limited & The Delhi Stock Exchange Association Ltd.
2004
-Asahi India Glass Limited securities delisted from Delhi Stock Exchange Association limited [DSEs] w.e.f. March 31, 2004.
-Asahi India Glass Delisted from Delhi Stock Exchange
2005
- Second automotive glass plant of Comp. set up at Chennai has commenced commercial production w.e.f. January 01, 2005.
