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History of Dewan Rubber Industries Ltd.

YEAR EVENTS 1985 - The Comp. issued 12% preference shares on 20th March, which were converted into equity shares on 2nd December. All shares taken up by promoters etc.

1986 - The Comp. was Incorporated on 24th February, as a public limited company. The Comp. was promoted by J.C. Dewan & V.S. Dewan. The Company objects to manufacture of cycle tyres & tubes.

- The Comp. has its works at Rithani, Meerut & manufactures 22,000 nos. & 28,000 nos. per day of cycle tyres & tubes respectively. The products are marketed under the brand name 'Usha'. A rubber reclamation plant was set up at Ghaziabad with an installed capacity of 4,500 tonnes of reclaimed rubber & 1,500 tonnes of crumb rubber per annum.

- The Comp. diversified into manufacture of reclaim rubber & crumb rubber. To improve the quality of tyres & tubes, the Comp. imported Banbury mixing mill from USSR. The other major equipments were thermax boiler, tyrepresses & monobands.

- The reclamation capacity was expanded to 6,000 tonnes each per annum of crumb rubber & reclaim rubber, with a view to utilize for home consumption 30% to 40% of production.

- During August/September, to comply with the listing requirements of Stock Exchange, D.R. Dewan, J.C. Dewan, B.R. Dewan, K.L Dewan, R.K. Dewan & V.S. Dewan, who were directors of the Company, offered out of their existing holding, 1,44,400 No. of equity shares for sale for cash at par to the public.

- During November, these shares were allotted to the public.

- The objects of present issue were to meet the cost of the expansion project & to strengthen the long term working capital resources of Company.

- 7,98,800 No. of equity shares then offered at par of which the following were reserved for allotment on preferential basis:

- [is] 3,19,520 shares to non-resident Indians on repatriation basis [only 1,23,600 shares taken ups] &

- [iis] 39,940 shares to employees including Indian working director of Comp. [none were taken ups].

- The balance of 4,39,340 shares along with unsubscribed portion of 2,35,860 shares from preferential quota were offered to the public during August-September 1986. Additional 1,99,700 No. of equity shares were allotted to retain over-subscription.

1987 - Substantial progress was made in the implementation of 3,500 TPA calcium carbonate project.

- The Comp. proposed to set up a project to manufacture Indian Indian Standard Natural Rubber [6,000 TPAs] [ISNRs], Latex Centrifuging & medical examination gloves [80 million nos. TPAs] both at an estimated cost of Rs.439 lakhs. The medical examination gloves project was to be a 100% export oriented unit for which negotiations with a U.S. based buyer was finalised.

1993 - A 100% EOU for cycle/Rickshaw tyres & tubes was started during October 1993 & September 1994 respectively.

- During Sept-Nov. 1993 the Comp. offered 62,00,950 Right equity shares of Rs.10 each at a prem. of Rs.25 per share in prop. 7:2 [all were taken ups]. 22,58,050 shares allotted to firm basis to promoters/directors. Another 2,71,000 shares & 3,00,000 shares reserved for allotted on preferential basis to employees and UTI, LIC, holders of NCI etc. [only 2,98,850 shares taken ups].

1994 - A 100% EOU for cotton yarn was started during September.

1995 - The Comp. had undertaken another expansion programme of existing tyre & tube units & also to install some balancing equipments at its 100% EOU Cotton Yarn Division.

- 10,570,003 No. of equity shares of Rs.10 each at a prem. of Rs.65 per share allotted on Right basis.

2003

-Members approve delisting of shares from Delhi Stock Exchange