History of Hindustan Foods Ltd.

YEAR EVENTS 1984 - The Comp. was incorporated on 31st December & obtained a Certificate of Commencement of Business on 24.08.1987. It was promoted by Marmagoa Shipping & Stevedoring Co. Pvt. Ltd., Goa Glindia Ltd., along with its subsidiaries participated to the extent of 20% of equity capital of Company.

1987 - During November-December, the Comp. issued 1,80,000-14% convertible debentures of Rs 150 each for cash at par of which the following debentures were reserved for allotment on a preferential basis. [is] 9,000 debentures to employees/workers and 72,000 debentures to NRI's. The remaining 99,000 debentures along with 44,360 debentures not taken up under preferential quota was offered for public subscription. The unsubscribed portion of 1,24,710 debentures devolved on underwriters.

- The convertible portion of Rs 50 of face value of each debentures was to be converted into 5 equity shares of Rs 10 each at the expiry of 3 months from the date of allotment of debentures. Accordingly, 9,00,000 No. of equity shares were allotted on part conversion of debentures during 1998-99. The non-convertible portion of Rs 100 of each debenture was to be redeemed at par on the expiry of 7 years from the date of allotment of debentures.

1988 - [18 monthss], The Comp. launched two cereal based food products Bonny Mix & Jak-N-Jul Merin Rings. The Comp. entered into a marketing arrangement with G i India Ltd., whereby G i India would buy products manufactured by Comp. to the extent of 60% of company capacity & sell the products under its own brand name. In addition it was also to provide technical assistance for development of new products & for product improvement.

- 7 No. of equity shares allotted for cash at par. 11,00,000 No. of Equity share then issued at par off which the following shares were reserved & allotted: [is] 4,00,000 shares to Marmagoa Shipping & Stevedoring Co. Ptv. limited [MSSCs] Goa; [iis] 2,00,000 shares to Glindia Ltd., [iis] 2,00,000 shares to subsidiaries of Glindia limited [66,700 shares each to Samgir Investments limited and Samgir Investments limited & Sesame Investments limited & 66,600 shares to Kargi Investments Ltd.s] Of the remaining 3,00,000 shares, 55,000 shares were reserved for allotment on a preferential basis to employees/workers [only 400 shares taken ups]. The Balance 2,45,000 shares along with 54,600 shares not taken up by employees were offered for public subscription during November-December, 1987. 9,00,000 No. of equity shares were allotted during 1988-99 as part conversion of debentures.

1989 - A chocolate variant of Bonny Mix was introduced in the market in October.

1990 - A new product ROZANA [Texturised Vegetable Proteins] was introduced in the North & North Eastern region & was well received & it was proposed to introduce the product in the national market. During the year a new product farex rice cereal was introduced.

1994 - The Comp. launched Bonny Meal Fruit and Bonny Meal Rice in the market.