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History of Hind Lever Chemicals Ltd.

1974

- The Comp. was Incorporated on 9th April & was promoted by PSIDC & DIK [Dai-Ichi Karkaria Pvt. Ltd.s] PSIDC entered into a collaboration agreement on 1st November 1973 with pik for setting up a new undertaking in the State of Punjab for manufacture of synthetic detergents, toilet soaps & glycerine. The Comp. Manufacture of bulk chemicals such as Sodium Tripolyphosphate, sulphuric acid and fertilizers.

- The Comp. set up a sophisticated manufacturing unit comprising of a synthetic detergent plant, a toilet soap plant, and a glycerine plant.

1994

- 700 No. of equity shares subscribed for by signatories to the Memorandum of Association, 4,49,400 shares allotted to Dai-Ichi Karkaria Pvt. limited 4,67,900 shares allotted to PSIDC. During Feb. 1994, 12,50,000 shares issued to Unilever Plc. at a prem. of Rs 115 per share.

1996

- The Comp. went in for restructuring & for restructuring the company acquired the bulk chemicals & phosphates business from its holding Comp. Hindustan Liver limited & in turn transferred its detergent business to HLL.

- Effective 11th March, the name of Comp. was changed to Hind Liver Chemicals limited from Stepan Chemicals Ltd.

- The Comp. has signed an agreement with NSDL for the dematerialisation of its shares.

- Necessary approvals were received for issue of 57,80,000 bonus equity shares in proportion 1:1.

- 28,90,000 Rights equity shares issued [prop. 1:1; prem. Rs 240s].

1997

- The Comp. was in the process of implementing a major capacity expansion of DAP plant at Haldia apart from further debottlenecking of its STPP.

- The Comp. was also exploring the possibilities of expansion of its sulphuric acid plant & setting up SSP manufacturing facilities at Haldia.

- During July, the Comp. issued through a prospectus 8,82,000 No. of equity shares of Rs 10 each & 10,000-11% cumulative preference shares of Rs 100 each to the public. Of the preference shares, 5 were taken up by public & 10,005 were allotted to financial institutions. Of the issue of equity shares issued to public only 3,000 were take up and balance 8,79,000 devolved on the underwriters.

- Hind Lever Chemicals, a 60 per cent subsidiary of HLL, was the third case of dispute with the RBI on the pricing of preferential allotment of shares to Unilever.

- Hind Lever Chemicals [HLCLs] is evaluating proposals for sourcing technology from Insitec of Australia & Hindustan Dorr Oliver Ltd, among others, for its diammonium phosphate plant at Haldia in West Bengal.

- The Haldia factory of Hind Lever Chemicals Limited [HLCLs] received the prestigious Environment Protection Award for fifth time.

1998

- The board of Hind Lever Chemicals Ltd [HL CLs], has proposed to issue bonus shares in the ratio of one share for each share held in the company [1:1s] by capitalising the share premium Acc. in supersession of the earlier proposal to issue bonus shares pursuant to the preferential allotment to Unilever Plc, which has been aborted.

- Hind Lever is also expanding its capacity from 2.5 lakh tonnes to as much as seven lakh tonnes of DAP/NPK complexes with the latest pipe-reactor technology. Hind Lever Chemicals also manufactures sodium tripolyphosphate, a crucial ingredient for detergents manufactured by Hindustan Lever.

1999

- Hind Lever Chemicals will raise production capacity of di-ammonium phosphate [DAPs] to seven lakh tonnes per annum from the existing three lakh tonnes by June.

- The Hindustan lever subsidiary will be setting up a DAP plant, a sulphuric acid plant & a single super phosphate [SSPs] plant in Haldia.

- HIND Lever Chemicals has allotted 22.26-lakh shares to institutional investors at Rs. 460 per share. The Comp. is just one among the many which have made such equity offers in the last one year.

- HLCL manufactured 30,502 tonnes of DAP & 9,386 tonnes of STPP during the first three months of 1999. The Comp. said that the production of DAP has been lower due to the annual shutdown at Haldia factory.

2002

-Anup Singh ceases to be a Director of Hind Lever Chemicals.

2003

-Members & Creditors approve for scheme of amalgamation of Comp. with Tata Chemicals Ltd.

-Sanjana Cyrogenic Storages in outsourcing pact with Indo Gulf Corporation on West Coast and Hind Lever on the east coast

- The merger of Hind Lever Chemicals Ltd with Tata Chemicals Ltd came into effect on June 1. Consequent to the orders of High Court of Judicature, Mumbai, & the High Court of Punjab and Haryana, sanctioning the Scheme of Amalgamation of Hind Lever Chemicals with Tata Chemicals, Hind Lever Chemicals has merged with Tata Chemicals, effective from June 1, 2004.