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History of Hindustan Construction Comp. Ltd.

EVENTS 1926 - The Comp. was Incorporated as a public limited company. The Company objects Engineering & construction. The Company undertakes the construction of tunnels, railway bridges & other large scale construction work of all kinds.

1948 - In May, 24,000 Bonus Equity shares issued in prop. 2:1.

1962 - 36,000 Bonus equity shares issued in the prop. 1:1.

1966 - 1,08,000 Bonus Equity shares issued in the prop. 3:2.

1967 - Walchand Tandur Cement Co. Ltd., Hyderabad became a subsidiary of the Comp. with effect from 11th October.

- 72,000 Bonus Equity shares issued in the prop. 2:5.

1972 - 8 1/2% debentures in three series of value of Rs.60 lakhs, Rs.25 lakhs & Rs.35 lakhs were issued & allotted to ICICI, LIC & UTI respectively.

1976 - The Ganga Bridge Construction Co. Ltd., became subsidiary of the Comp. on 30th March.

1983 - 25,20,000 Bonus Equity shares issued in prop. 1:1 in December.

1984 - During March, the Comp. issued 15% non-convertible debentures for Rs.6 crores on rights basis. Subscription to the extent of Rs.10 crores were retained. Allotment was made in September.

- 12,60,000 No. of equity shares offered at par for public subscription during March. Arrears Rs. 2,000.

1985 - The Comp. with necessary approvals, disposed of its entire investments in Walchand Tandur Cement Co., limited at par to one of its associates Walchand Industries, limited Subsequently, effective from 20th June, 1986, Walchand Tandur Cement Co. Ltd. ceased to be its subsidiary.

- UTI agreed to extend the date of redemption of these debentures by a period of 7 years from July at an increased rate of interest of 15% with a prem. of 5% on redemption.

1986 - The Comp. entered into foreign consultancy agreements with Pullman Power Products International Corporation, U.S.A and Interform, Sweden for its Trombay chimney works.

- The name of Ganga Bridge Construction Co. limited was changed to 'HCC Prefabricates Ltd.'. However on review, it was once again changed to 'The Ganga Construction, Ltd.'.

1987 - The Comp. renewed the technical collaboration agreement with Taisei Corporation of Japan for execution of underground tunnel work for Metro railway project in Calcutta. It entered into a foreign consultancy agreement with Geoconsult of Austria for Company tender for construction of tunnel between Sewri & Futka Tank in Mumbai for BMC & with Bureau BBR International Ltd., Zurich in Switzerland, for company tender for superstructure design & construction of Godavari Bridge III in AP.

1988 - The Company technical collaboration agreement with Taisei Corpn., Japan for execution of underground tunnel work for the Metro Railway project in Calcutta, came to an end.

- Government gave its approval for [is] foreign consultancy agreements with Geoconsult of Austria for construction of tunnel between Sewree & Futka tank in Mumbai, [iis] With Bureau RBR limited Zurich, Switzerland for work of superstructure design and construction of Godavari bridge III in A.P.

1989 - On 25th September, the Comp. proposed to buy the entire paid-up capital consisting of 10,000 No. of equity shares of Rs.100 each at a price of Rs.138 per share of Vikhroli Metal Fabricators, limited [one of companies of Walchand groups] held by The Premier Construction Co., limited so as to make Vikhorli Metal Fabrication, limited a subsidiary of Company.

- Due to lock-out of metro works at Calcutta, inadequate funding by the client affected the projects like Chandil dam & Icha dam in Bihar & initial stages of mobilisation of other projects.

1990 - The Comp. issued 4,90,200 - 12.5% secured redeemable convertible debentures of Rs.80 each of which 24,510 debentures were offered to employees of Comp. [including Indian Working Directorss]/workers of Comp. [only 5,075 debentures, were taken ups].

- The remaining 4,65,690 debentures along with the unsubscribed portion of 1,943 debentures of employees quota were offered to the public. [only 4,83,624 debentures were taken ups]. The unsubscribed portion of 1,500 debentures were allotted on private placement basis.

- Rs.30 [Part As] of face value of each debenture was to be compulsorily & automatically converted into three equity shares of Rs.10 each at par on the expiry of 6 months from the date of allotment of debentures. Accordingly, 14,70,600 No. of equity shares were allotted.

- Rs.50 [Part Bs] of face value of each debenture was to be redeemed at par in three instalments of Rs.15, Rs.15 & Rs.20 each on the expiry of 7th, 8th & 9th year respectively from the date of allotment of debentures.

1991 - The Comp. entered into a joint venture with M/s. Impregilo-Italy & submitted tender bid for Nathpa Thakri hydel project in Himachal Pradesh. The Contract for road construction works in the State of Malavi was terminated.

- The Comp. secured Construction Management Services from M/s. John Laing International limited U.K.

1994 - The Comp. signed a joint venture with Alfred McAlpine International Ltd., U.K.

- The Comp. proposed to enter into real estate development business with development of its own property at Vikhorli into a Corporate Park & Residential Complex.

- Walchand Hindustan limited [Formerly Premier Construction Co., Ltd.s] the holding Comp. holds 100,28,480 No. of Equity shares out of a total 200,33,250 No. of equity shares issued by company.

1995 - The Comp. signed joint venture agreements with M/s. Renong Overseas Corporation SDN BHD of Malaysia for Express Highways in Maharashtra & Gujarat. M/s. Van Oord ACZ BV of Holland for execution of projects under ADB for Ennore Port Development in Chennai & M/s. John Laing International limited of U.K. for construction managed services for National highway projects. - The Comp. issued 45,00,000 - 16.5% secured Redeemable partly convertible debentures of Rs.200 each for cash at par to public. Part `A' of Rs.45 was converted into one equity share of Rs.10 each at a premium of Rs.35 per share on the date of allotment.

- 77,66,625 bonus equity shares issued in prop. 1:1. 1,425 forfeited shares annulled. 45,00,000 shares allotted on conversion of debentures. 1996 - There has been a setback in the Mumbai Water Supply Tunnel i.e. WZO [As] due to failure of horizontal kelly of Full Faced Tunnel Boring Machine which necessitated the repairs at Germany & five months time was lost before the work could be restarted in the tunnel.

1997 - The Comp. signed a Memorandum of Understanding with M/s. Bechtel Water Technology U.K., M/s. Hyundai Engineering & Construction group, Korea, Sam Sung Corporation, Seoul, Korea and M/s. PATI SDN BHD, Malaysia for participating in Water Supply Projects, Bridge Highway & Hydro-Electric Projects respectively.

- The Comp. holds about 4.94 lakh sq ft of land, which it proposes to develop into an commercial-cum-entertainment complex.

1998 - Credit Analysis and Research limited [CAREs] has assigned a RR1+ [PR one Pluss] rating to the proposed commercial paper issue of USV for Rs.5 crores.

- Hindustan Construction Comp. has obtained the rating for PR+ form CARE for its Rs.10 crore commercial paper issue.

- The Comp. has maintained dividend at the rate of 10 per cent on its paid up capital.

1999 - Hindustan Construction Comp. [HCCs] has entered into a series of joint ventures, including ones with Hyundai, Samsung, Bechtel, & Pati Berhad, to enable it to bid agressively for infrastructure projects in the country.

- The Comp. has entered into a joint venture with Hyundai Construction & Engineering for Rs 220-crore cable-stayed bridge across the Yamuna in Allahabad.

- The Comp. has entered into a joint venture with Pati Berhad, a Malaysian-based construction giant that has excuted several projects in south-east Asia.

- HCC is involved in civil engineering & construction activities & has a good track record of building bridges, roads & power plants.

- Hindustan Construction Comp. Ltd [HCCLs] was awarded a contract for construction of Icha Dam across the river Kharkai in Kuju village by State of Bihar [the defendantss].S

2000 - The Comp. has entered into a tripartite agreement with CDSL and MCS Ltd., R&T agent of Comp. for dematerialisation. The equity shares have been made live on CDSL from March.

- The joint venture of Hyundai of Korea & Hindustan Construction Corporation has bagged the contract for construction of India's first cable stayed bridge across the river Yamuna at Naini in Allahabad.

- Care has assigned a PR1+ rating to the Commercial Paper programme of Hindustan Construction Comp. limited for Rs 150mn.

- The Comp. has enered into tripartite agreement with NSDL, CDSL & MCS limited for dematerialisation of shares.

- Hindustan Construction Co. limited has floated an information technology subsidiary, NCC Infotech Ltd.

2001 - The Comp. has been awarded a contract by Delhi Metro Rail Corporation Ltd., New Delhi, for construction of Delhi Metro Rail Corridor, Package MC-1A.

2002

-Bags Rs.912.3 million contract from Maharashtra State Road Development Corporation Ltd for construction of 4 laning of Satara-Kolhapur-Maharashtra.

2003

-Director Mr D M Savur resigns from the Directorship of company.

-Forfeits 9250 equity shares due to non payment of allotment /call monies.

-Reappoints Mr K G T Tendulkar as the Executive Director on the Board of company.

-BOD voluntarily delists the equity shares of Comp. from the Delhi Stock Exchange of company.

2004

-Hindustan Construction gets Rs 843 crore order for lifting water from Godavari river using a single pipeline to fill the tanks at Bhimghanpur, Ramappa, Salivagu, Nagaram, Dharmasagar & Ghanpur railway station in Andhra Pradesh

-Hindustan Construction Co Ltd [HCCs] has bagged an order from the National Highways Authority of India to execute a project involving four-laning of 77 km stretch of highway in the Chandikhole-Paradip section in Orissa.

- Awards an order of Rs 121 crore for supply of spiral welded pipes to PSL limited to carry out the Godavari Lift Irrigation Scheme project for Government of Andhra Pradesh.

2005

-Hindustan Construction Comp. Ltd has informed that the Comp. has secured its first BOT Project worth Rs 302 million from the office of Executive Engineer, Integrated Unit, PWD

-Hindustan Construction secures a contract worth Rs 2144 mn