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History of Autolite [Indias] Ltd.

YEAR EVENTS 1977 - The Comp. was incorporated as a private limited Comp. on 30th June & it became a public limited Comp. on 30th March 1982. The main promoters of Comp. were Dharam Pal Gupta, Mahipal Gupta & Rajpal Gupta. The main objects of Comp. is to manufacture lighting equipment. The product range includes auto head lights, tail lamps, Indication lights, parking lamps, fog lamps, sealed beams, flasher units, grass shells, auto bulbs, switches, horns, wiring harness, cut off etc. for all types of vehicles. The Comp. for first time in India developed and introduced high power lamps & halogen head lamps. The head lamps manufactured by Comp. are sold under the brand name of `Autopal'.

1983 - All shares were subscribed for by promoters, directors, etc. [34,110 No. of equity shares without payment in cash as consideration for acquiring the running business of the partnership firm M/s. Autolite of Indias].

1984 - Equity shares sub-divided. 1,10,000 No. of equity shares of Rs 10 each taken up by promoters, directors, etc.

1985 - 1,10,000 shares issued to promoters, directors, etc. fully called up. 6,35,000 No. of equity shares issued at par of which 95,000 shares were reserved for firm allotment to promoters, directors, etc. Out of remaining 5,40,000 shares, 37,800 shares were reserved & allotted on a preferential basis to employees, working directors, etc. The balance of 5,02,200 shares offered for public subscription during Nov. 1985. 1988 - With a view to boost exports, the Comp. proposed to establish a trading branch, in the USA [which was to be a wholly owned subsidiarys].

1989 - The installed capacity was increased from 3.6 lakhs head lamps per annum to 9.6 lakhs per annum.

1990 - The Comp. commenced implementation of major expansion project for expanding the headlamp manufacturing capacity from 6 lakh pieces per annum to 15.6 lakhs pieces per annum.

- The Comp. proposed to offer 4,50,000 No. of equity shares of Rs. 10 each at a premium of Rs 30 per share or such other premium as may be fixed by CCI on Rights basis in the proportion 1:2.

- Another 22,500 share at a premium of Rs 30 or such other premium as may be fixed by CCI, were also to be issued to the employees under the Employees' Stock Option Scheme.

1994 - During May 1993, the Comp. issued 9,00,000 Rights Shares [Prop. 1:1, Prem Rs 60s]. Another 33,600 shares issued to employees at prem. of Rs 60. [Only 30,100 shares taken up. 11,400 shares allotted to IDBI on conversion of loans.

1996 - The Comp. embarked upon a programme to expand the installed capacity from 5 lakhs to 12 lakhs pieces of head lamps per annum at its existing unit at Vishwakarma Industrial Area, Jaipur.

- During Oct. - Nov. 1994, The Comp. issued 9,20,750 Rights shares [Prop. 1:2; Prem. Rs 70s]. Another 22,60,000 shares issued through a prospectus at a prem. of Rs 80 per share of which 16,40,000 shares reserved & allotted to promoters, Friends, etc. Another 55,000 shares to employees & Directors. 5,65,000 shares to public. Additional 32,046 shares allotted.

2002-Autolite India Ltd has informed that Mr J P Rawat has resigned from the office of Comp. Secretary & Mr Vishal Agarwal has taken over his charge with effect from December 09, 2002.