History of Heatshrink Technologies Ltd.

YEAR EVENTS 1979 - The Comp. was Incorporated as a private limited Comp. on 18th June, in the name of Raychan Engineering Pvt. Ltd.

- It was promoted by Homri R. Patel & his associates. The name was changed to REPL Engineering Pvt. limited on 27th April 1989 and it became a public limited Comp. on 11th July, 1990. The company plant is situated at Andheri, Mumbai, with a capacity to manufacture 2,36,000 kits per annum.

- The Company object is to manufacture heat shrinkable cable jointing kits for telecom & power industries.

1992 - 18,59,770 No. of equity shares of Rs.10 each allotted to Indian their friends etc. 69,14,800 No. of equity shares of Rs.10 each were then issued in July as follows:

- Reserved for allotment [is] 13,94,800 shares to resident directors their friends;

- [iis] 19,20,000 shares to NRIs/OCBs.

- Of the remaining 1,80,000 shares reserved for allotment on pref. basis to employees [only 68,600 shares taken ups]. Another 11,00,000 shares offered to NRIs [all were taken ups].

- Balance 23,20,000 shares along with 1,11,400 shares not taken up were issued to the public [all were taken ups]. Additional 5,40,000 shares allotted to retain oversubscription [1,65,000 shares to NRIs; 3,75,000 shares to publics]. Another 4,93,220 shares allotted to promoters to retain oversubscription.

1993 - The Comp. undertook to enter the field of power generation by tapping wind energy. The project was being set up at Gujarat to develop grid connected wing farm complex for industries and private entrepreneurs. The wind energy division is also to set up its own wind farm complex [WFCs] to sell energy to state utilities/industries.

- The Comp. undertook to set up a project to manufacture 4,000 CKMs of optical fibre cables at Jogeshwari, Mumbai. In the first phase, the semi finished cable [with polythene, sheating would be imported while nylon sheating operation would be down by the Company.

- The Comp. formed the REPL-VSZM KFT, Hungary joint venture to enter into the field of polymer processing & to specialize in manufacture of irradealed heat shrinkable polymeric materials. A running unit with manufacturing facilities was taken over after approvals from foreign collaborator.

- The Comp. entered into a joint venture with Jarama Holding SDN of Malaysia for selling up a project for manufacture of heat shrinkable each jointing kits.

- ELF Lubricants [Indias] limited is a joint venture between the REPL/Associate companies & ELF Lubricants, Paris.

1994 - The Comp. installed its wind turbines at its wind farm complex at Gujarat & Coimbatore in Tamil Nadu.

- The Comp. undertook to increase its capacity to 4,16,000 kits p.a.

- During October/November, the Comp. issued 42,24,716 rights equity shares of Rs.10 each for cash at a prem. of Rs.30 per share in prop. 2:5.

- During November, the Comp. allotted 25,00,000 No. of equity shares of Rs.10 each at a prem. of Rs.62 per share on private placement basis with Financial Institutions, FIIS/OCBS Mutual Funds, NRIs etc.

- On 27th May, the Comp. allotted 79,20,000 warrants of Rs.10 each on private placement basis with promoters group. The warrant entitles the holder to apply for one equity share of Rs.10 each at a prem. of Rs.35 per share.

- 7,50,000 shares allotted on 1.4.1994 to Avon Engineering limited on conversion of 50% of 15% secured FCD. 25,00,000 shares allotted on private placement basis to Mutual Funds/NRIs/FIIs on 27.5.1994 9,20,000 No. of equity shares allotted at Rs.35 per share to warrant holders of promoters group. 42,24,716 rights equity shares allotted [prem. Rs.30; prop. 2:5s]. Of these 5,396 shares were kept in abeyance. Another 35,00,000 shares and 20,00,000 shares allotted.