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History of Hind Rectifiers Ltd.

YEAR EVENTS 1958 - The Comp. was Incorporated as a Private Limited Comp. on 25th April & converted into Public Limited Comp. on 11th May 1961. The Comp. manufactures & deals in all kind of rectifier apparatus, elements, other types of electrical apparatus or devices, machinery, equipment & goods.

1959 - Issued 1,000 shares to Kaycee Industries, Ltd., without payment in cash & 4,000 shares to directors etc.

1962 - Agreement was signed with the collaborators for technical know-how of Westinghouse Electric Corporation, U.S.A., in regard to semi-conductors in the form of diodes, transistors, etc.

- Shares subdivided in April 1962. 2,00,000 shares issued at par: 50,000 shares offered as Rights in prop. 1:1; 30,000 shares reserved & allotted to the foreign collaborators without payment in cash & 1,20,000 shares offered to the public during June 1962.

1965 - Shares allotted to collaborators: 8,457 shares in 1965, 10,793 shares in 1966, 26,750 shares in 1968 & 4,000 shares in 1970-71.

1970 - The application made to Government for approval of the collaboration agreement with Westinghouse Brake and Signal Co. Ltd., U.K. [WBSs], was revised to cover specific sophisticated equipment & devices for manufacture of which the collaborators' assistance was essential. In 1980 Approval of Government for collaboration was received.

1979 - The Comp. received a letter of intent for setting up a new industrial unit at Satpur MIDC Area in Nasik [Maharashtras] for the manufacture of [is] 10,00,000 nos. per annum of diodes, [iis] 5,00,000 nos. per annum of thyristors, [iiis] 2,50,000 nos. per annum of triacs & [ivs] 1,00,000 nos. per annum of power transistors.

1989 - 2,09,580 rights equity shares offered at par in the ratio 7:10. Only 1,95,531 shares taken up.

1994 - The Comp. signed a technical agreement with Electric Research and Development Centre, Kerala for manufacturing transistorised PWM AC Drives. Another technical agreement with FRIEM S.P.A., Italy for high current water cooled rectifiers for electro-chemical & electro-metallurgical applications.

- The Comp. signed MOU with powersem, GmbH, Germany for Isopack Bridges.

1995 - Effective 1st April, Supreme Powertronics Private limited was merged with the company.

- 12,800 shares issued to the shareholders of erstwhile Supreme Powertronics Pvt. limited in ratio of 1:25.

- 4,95,531 bonus shares allotted in prop. 1:1.

1997 - The Turnover & margins were affected due to slowdown in the economy & the tight money market.

2007

- The Comp. has splits its face value from Rs10/- to Rs2/-.

2008

-The Comp. has issued Bonus Shares in the Ratio of 1:1.