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History of Hoganas India Ltd.

YEAR EVENTS 1986 - The Comp. was incorporated on 30th July, at Mumbai. It was promoted by Kamaljit Singh. The Comp. manufacture different grades of iron powder.

- The Comp. entered into a technical-cum-financial collaboration agreement with Hoganas AB, Sweden [HABs]. As per this agreement, HAB would provide the Comp. with complete technical know-how for manufacture of iron powder & also for installation of Plant & Machinery.

- The main customers were the manufacturers of sintered powder metallurgy components, stainless steel producers & welding electrode manufacturers.

1987 - 7 shares subscribed for by signatories to the Memorandum of Association. 11,49,993 shares then issued at par out of which 5,86,500 shares to Hoganas AB, Sweden & 2,29,993 shares to resident Indian directors, their friends, etc. were reserved and allotted on a firm basis. Another 57,500 shares were reserved for preferential allotment to employees [including Indian working directorss]/workers of Comp. out only 1,600 shares taken up. The balance 2,76,000 shares, along with 55,900 shares not taken up by employees were offered to the public in Aug./Sep. 1987. [All were taken ups].

1992 - As part of backward integration, the Comp. bought over a running unit from M/s. Mahindra Sintered Products, Ltd., manufacturing raw atomised powder, located adjoining the company existing manufacturing facilities.

- With a view to improving productive capacity as well as the quality of raw atomised powder, the unit was being modernised with assistance of Hoganas AB, Sweden.

- During September/October, the Comp. offered 2,87,500 No. of Equity shares of Rs 10 each at a premium of Rs 100 per share on Rights basis in the prop. 1:4 [only 2,87,450 shares taken ups].

- Another 14,375 No. of equity shares of Rs 10 each were offered at a premium of Rs 100 per share to employees on an equitable basis [only 8,100 shares taken ups].

- Also, 8,431 new equity shares were issued to Hoganas AB, Sweden so that their equity holding will continue to be 51%.

1994 - 3,63,495 No. of equity shares issued [prem. Rs 100 per shares] on right basis to the existing shareholders in prop. 1:4.

1996 - The Capacity of atomising plant was raised from 4,800 m.t. per annum to 12,000 m.t. per annum. The capacity of the annealing plant was also raised from 7,300 m.t. per annum to 9,000 m.t. per annum.

- 9,08,738 bonus equity shares issued in the ratio of 1:2.

2000 - Hoganas India has declared a 1:1 bonus issue.

- The Comp. has considered & allotted 27,26,214 fully paid-up shares of Rs 10 each as bonus shares in the ratio of one equity share for every one equity share held.

2001 - Hoganas AB, Sweden, has proposed to acquire a 49 per cent stake in Hoganas India at Rs 100 per share.

2002- The board of Hoganas India Limited accepted the resignation of Mr V K Sud ,Managing Director. The Board has appointed Mr B P Vaidya,an existing Director of Comp. as Executive Director of company.