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History of Hindoostan Spinning and Weaving Mills Ltd.

YEAR EVENTS 1882 - The Comp. was incorporated at Mumbai. The main objective of the Comp. is to manufacture cotton textile good. Counts ranging from 8s are Spun and the cloth width ranges from 26 inches to 58 inches.

1963 - Rate of Pref. dividend raised to 7%.

1966 - 9,600 Bonus Equity shares issued in the prop. 1:1.

1969 - The Hindoostan Spg. and Wvg. Mills Co. Ltd., was amalgamated with The Indian Manufacturing Co., limited with effect from 1st April, whereupon the Hindoostan Spg. and Wvg. Mills Co. Ltd., stood dissolved. Subsequently the name of Comp. was changed from The Indian Manufacture Co. Ltd., to The Hindoostan Spg. & Wvg. Mills limited with effect from 8th May.

- Shareholders of Crown Spinning and Manufacturing Co. Ltd., were allotted 4 equity shares of Rs 250 each of Comp. against each equity share of Rs 500 of Crown Spinning and Manufacturing Co. Ltd., held by then.

- Nirmal Colorants and Chemicals Manufacturing Co. Private Ltd., is a wholly owned subsidiary of company.

1970 - Pref. shares subdivided. 4,8000 Pref. & 30,720 No. of Equity shares issued to members of Hindoostan Spg. and Wvg. Mills Co., Ltd., upon its merger with the Company.

1975 - 33,280 Bonus Equity shares issued in the prop. 2:3.

1976 - 40,000 No. of equity shares issued to the shareholders of the Crown Spg. and Mfg. Co., limited pursuant to the Scheme of Amalgamation.

1984 - The Comp. revalued major items of its plant & machinery as on 30th June. The net surplus of Rs. 22.50 crores arising out of this was credited to capital reserves.

1988 - New machinery worth Rs 1.41 crores was installed.

1989 - Textile industry was reported to have turned the corner. With a large increase in the cotton crop, prices of cotton remained at reasonable level.

- The sale of equity shares held by it in Cable Corporation of India, limited which considerably eased the strain on liquidity.

- New machinery worth Rs 5.70 crores was installed for modernisation of mills the thrust of modernisation being particularly in export related manufacturing facilities.

1990 - The Comp. installed 5 new ring frames, an open end spinning machine, 4 new generation winding machines such as auto coner, wide width sizing machine & processing machinery. A solar water heating plant with a capacity of 1 lakh liters per day was installed at the company process house, at a cost of nearly a crore of rupees.

1991 - The machinery installed during the year included Ruti C looms, high speed ring frames, 16 colour wide width rotary printing machine & wide width stenter.

1992 - Modernisation programme was undertaken. 48 imported rapier looms were installed.

- 30,80,000 Bonus equity shares allotted in the prop. 1:1.

1993 - The Comp. proposed to put up a new export oriented manufacturing facility at Karad. 40 Sulzer looms were installed.

- During April-May, the Comp. issued 12,32,000 Rights equity shares of Rs. 10 each for cash at a premium of Rs. 40 per share in the proportion 2:5, to holders prior to allotment of bonus shares. Out of this 12,31,900 equity shares were allotted and 100 shares were kept in abeyance.

1994 - The Comp. embarked upon a major modernisation-cum-expansion programme, with an expenditure of Rs. 80 crores in the first phase.

1996 - The Comp. issued Rs. 300 lakhs Non-convertible debentures on private placement basis to SCICI Limited for 18 months repayable in one single instalment.

1997 - The overall working was reported to poor both due to hike in raw material costs & the recessionary conditions in the industry. The company crown mill division & process house received ISO 9002 certification.

- The Comp. installed 28 Sulzer looms under the modernisation scheme in Mumbai.

- The Comp. proposed to issue 2956780 rights equity shares of Rs. 10 each at a premium of Rs. 15 per share in the proportion 2:5.

2004

-Hindoostan Spinning And Weaving Mills Ltd has informed that the BOD at its meeting held on January 06, 2004 passed the Resolution unanimously for delisting of equity shares of Comp. from NSE

-Hindoostan Spinning And Weaving Mills Ltd has informed that the Share Department of Comp. has been shifted to the Registered Office of Comp. as per the address given hereunder : The Hindoostan Spg. and Wvg. Mills Ltd., 'Sir Vithaldas Chambers', 3rd Floor, 16, Mumbai Samachar Marg, Mumbai 400 001. Tel No : 22040846. Fax No : 22833841.

2006

-Hindoostan Spinning Weaving Mills Ltd has has appointed Mr Pravin Chandra Sharma as Special Director on the Company Board w.e.f. November 17, 2006.