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History of Dev Fasteners Ltd.

YEAR EVENTS 1990 - Dev Fasteners Limited was incorporated on 1st of February. The Company main product is High Tensile Fasteners.

1993 - The Company First & maiden Public Issue of 3,000,000 No. of equity shares of Rs.10/- each was oversubscribed by 12.156 times.

- The Comp. has set up a modern Standards room & necessary infrastructure for inhouse quality analysis & adherance to various specifications for manufacture and finish.

- The Comp. has designed & developed special Track Bolts in house to the entire satisfaction of customer namely M/s. INTERFIT INDIA LIMITED, one of leading Export Oriented Units in India.

1994 - The Comp. has completed the installation & Commissioning of support facilities like Plating Plant, Coating Plant etc. The Company, has introduced more than 500 ranges of 'DEV' brand Fasteners for both Automobile & Engineering Industries.

1995 - During the year the Comp. issued 27,82,800 No. of equity shares of Rs.l0/- each to the promoters at a premium of Rs.5 per share.

- The Comp. achieved the distinction of being the second fastener manufacturing Comp. in India to have been accredited with the prestigious ISO 9002 Certificate by TUV CERT of Germany.

- During the year the Comp. has signed an understanding Instrument with a global manufacturer namely T.R. FASTENING LTD. U.K., a renewed public limited company whose shares are listed in the London Stock Exchange.

1996 - During the year the Comp. issued 45,07,800 No. of equity shares of Rs. 10/- each at a Premium of Rs.5/- share on Rights basis to the existing shareholders aggregating to Rs.676 lakhs to fund the Installation of additional machineries & Long term working capital requirements. The shares have been allotted in April 1996.

- Shri. K. D. PARAKH, Director & Shri. P. B. RAMANUJAM, Director retire by rotation at this Annual General Meeting & being eligible, offer themselves for reappointment.

1997 - The secondary operation machines & balancing equipments as envisaged in the Rights issue scheme has been installed & are in operations.

- Shri .K. RAMESAM, Director & Shri. S. RAMADAS, Director retire by rotation at this Annual General Meeting & being eligible, offer themselves for reappointment.

1998 - DEV Fasteners' sales have been hit by recession in the automobile & engineering sectors.

1999 - The continued slowdown in the economy & stagnation in the automobile and other engineering sector has affected the Company Performance also.

2000 - The Factory workmen have resorted to an illegal & unjustified strike from September, 6.