1978 - The Comp. was incorporated on 28th March. A scheme of
arrangement & amalgamation between the Calcutta Electricity
Supply Corporation limited [CESCs], its stock holders & the Company
dated 6th December 1978 became operative from 2nd April 1979.
The Comp. owns & works the Calcutta & District Consolidate
Electric License 1946 [granted licensess] for supply of
electricity for all purposes in & around Calcutta.
1979 - The Comp. issued & allotted on 7th April, 71,94,951 No. of
equity shares of Rs 10 each & 32,07,029 - 7 1/2% preference
shares of Rs 10 each credited as fully paid-up to the persons
who, at the close of business on 1st April, were the holders
respectively of CESC Ordinary Stock: For every 5 nominal of
6% cumulative preference stock of CESC & for every 5 nominal
of ordinary stock of CESC, eight equity shares of Rs 10 each of
1981 - Issued 3,00,000 No. of equity shares to ICICI. 6,50,000 No. of
Equity shares to IDBI & 3,00,000 No. of equity shares to LIC
all at par in part conversion of loans.
1985 - The Comp. issued 8,50,000 - 15% secured, redeemable,
non-convertible debentures of Rs 100 each on rights basis in
February to meet its working capital requirements.
1986 - The Comp. secured during the year a contract for erection of
their Lalmatia [Bihars] 220/132 KV substation. Another contract
was secured from BHEL for erection of their 400 KV substation at
Kolaghat [West Bengals]. The Comp. was also entrusted with the
preparation of feasibility studies for captive power generation
1987 - The name of Comp. was changed from The Calcutta Electric
Supply Corporation Ltd., to CESC Ltd., with effect from 1st of
1988 - A Memorandum of Understanding was signed between the consultancy
and Contracts division & the Comp. by Neyveli Lignite
Corporation for cabling work. A MOU was signed between the
Consultancy and Contracts Division & MECON, a public sector
consultancy firm to jointly undertake consultancy and
construction contracts in power & engineering field both in and
1991 - All statutory clearances were received for 500 MW power
station at Budge Budge.
- The Comp. proposed to set up a 3 x 250 MW coalfired thermal
power station at Balagarh.
- The Comp. proposed to issue 20% secured redeemable
non-convertible debentures aggregating Rs 20 crores on private
placement basis to financial institutions.
- During March, the Comp. offered 33,89,006 No. of equity shares
of Rs 10 at a premium of Rs 15 per share to the equity
shareholders on Rights basis in the proportion of 1:5 and
1,69,451 No. of equity shares of Rs 10 each at a premium of Rs 15
per share to the permanent employees/workers of Comp. on an
- The Comp. issued 8,71,500-12.5% secured redeemable partly
convertible debentures of Rs 600 each as follows: [is] 4,65,000
debentures were reserved for a preferential allotment to the
equity shareholders; [iis] 43,575 debentures were reserved for
preferential allotment to the permanent employees/workers of the
Comp. on an equitable basis & [iiis] 3,62,925 debentures were
offered to the Indian Public.
- Part `A' of Rs 250 of each debentures was to be converted into 10
equity shares of Rs 10 each at a premium of Rs 15 per share at
the end of six months from the date of allotment.
- Part `B' of Rs 350 of each debenture was to be redeemed at par in
5 equal instalments of Rs 70/- each at the end of 7th to 11th
years from the date of allotment.
- The Comp. allotted [including permitted retentions] 9,17,598
debentures & 39,94,596 No. of equity shares effective 11th
June, 1991 respectively.
1992 - The Comp. proposed to undertake the project for a high
installed capacity of 1,500 MW to be completed in three states -
Stage-I of project comprising 2 x 250 MW units having an
installed capacity of 500 MW which will be followed by one 500 MW
unit in the second stage & another 500 MW unit in the third
- The Comp. finalised to issue 1,55,43,240-16% secured redeemable
non-convertible debentures of Rs 100 each for cash at par in
order to raise resources for meeting a part of requirements
of Budge Budge power station project & also for meeting the
Company working capital needs.
1993 - Approvals/clearances were received. The Comp. entered into an
agreement with Rolls Royce Power generation system for turnkey
execution of project.
1994 - The Comp. proposed to set up a 1500 MW thermal generating
station to be completed in 3 stages.
- During April, the Comp. issued 83,66,140 Global Depository
receipts representing 83,66,140 shares together 33,46,456
warrants to subscribe for GDRs in units of 5 GDRs & 2 warrants.
The issue price was US $ 53.34 per unit.
1995 - A new Comp. Integrated Coal Mining Pvt. limited was promoted by
the Comp. to undertake the work of particularly power companies
to be directly involved in mining.
- The Comp. issued 3,00,000 - 14% secured redeemable
non-convertible debentures of Rs 100 each on private placement
basis to financial institutions. These debentures are redeemable
in five equal annual instalments at a premium of 5% from 9th
- 50,00,000 No. of equity shares allotted on conversion of warrants
attached to 16% NCD.
1996 - The Comp. has promoted a new Comp. Balagarh Power Company
Ltd., for setting up a 1500 MW thermal power station.
- CESCON, limited is a wholly owned subsidiary of Company. It
carries on consultancy contracts & other allied business
- 89,31,620 No. of equity shares of Rs 10 each allotted at a price
of Rs 50 per share on conversion of warrants. 30,14,465 No. of
equity shares of Rs 10 each Rs 1 paid up allotted at a price of
Rs 50 per share on conversion of warrants. 34,97,000 No. of
equity shares of Rs 10 each. Rs 1 paid up allotted at Rs 80 per
share on conversion of warrants.
1997 - 120,00,000 pref. shares redeemed. 8,103 No. of equity shares
allotted on conversion of warrants attached to 16% NCD.
- CESC is also setting up a 1,500-mw thermal power station in two
or three stages at Balagarh.
- The largest disadvantage for Comp. is that it is situated
in a state which is the strong hold of Leftists.
1998 - The long term rating of Rs.1550 million Non Convertible Debenture
Programme of CESC limited has been downgraded from LAA to LA,
indicating adequate safety, by Investment Information & Credit
Rating Agency [ICRAs].
- The Calcutta Electric Supply Corporation, renamed CESC limited in
1987, has been lighting up Calcutta for over 100 years.
- The Comp. are the 2 per cent effective tariff increase after
several months, which came in November 1996.
- 20,00,000-14.5% pref. shares redeemed. 101,88,665 equity shares
of Rs. 10 each Rs. 5 per share paid up allotted on 15th Feb. 1999
on conversion of equity warrants `B' attached to 15% NCD.
1999 - CESC limited has demanded another hike in the fuel surcharge [FSCs]
rates for a three year span form 1996-97 to 1998-99.
- CESC existing licensing agreement will be made to include
borderline areas of city currently within the jurisdiction of
- The Comp. has grown into a 650 MW capacity generating and
- The Comp. has initiated a series of interactive programmes on
'Building Excellent Service Provider' for its employees.
2000 - ICRA has downgraded the rating of Rs 155.3 crore NCD issue of the
Comp. to LBBB+.
2001 - The Titagarh Thermal Power Station of CESC limited has been awarded the
ISO 9002 certification.
-CESC Board approves proposal for amalgamation of subsidiary.
-Appoints Mr Tarun Kumar Ray as the Nominee director of IFCI on the Board of Comp.
-Court orders the Comp. to pay Rs. 3 cr to Damodar Valley Corporation.
-Government nominates Mr Birenjit Kumar Paul on the Board of company.
-Chemithon Engineers Ltd along with Heavy Water Board of Government starts work on development of process to bring down emission levels at the company.
-Unveils multi-pronged scheme to curb pollution at its thermal power facilities.
-Board approves to allot shares to Management Group and Associates.
-Introduces Voluntary Separation Scheme for all permanent employees of Comp. who have completed 10 years of service & attained 40 years of age.
-2300 employees apply for CESC retirement scheme
--Hindustan Lever Ltd tied up with the private sector power utility, CESC Ltd, for sampling of Pepsodent toothpaste. `Touchbase with Kolkata' project said that with its April bills CESC would be sending out 14.1 lakh covers carrying the Pepsodent label & a small 15 gm tube of toothpaste with a new flavour.
-PTC forges alliance with CESC
-CESC ties up with Power Finance Corporation [PFCs] to repay debt
-CESC executes MoU with Govt of Jharkhand
-CESC Ltd has forayed into a memorandum of understanding with the Government of Bihar to establish a 2,000-MW power plant in the State Bhagalpur district at an investment of Rs 10,000 crore.