The Comp. was incorporated on 13th November, 1991 as HINDUSTAN INKS AND RESINS LIMITED & obtained certificate of commencement of business on 13th January 1992.
The Comp. is promoted by Bilakhia group who are technocrats with experience over a decade in the field of printing inks & synthetics resins.
The Comp. engaged in manufacturing of inks & Resins.
The Comp. has a technical tie up with swiss Comp. colara for supply of technology & formulation to manufacture various types of water-based inks.
The main promoters of Comp. are Shri Yunus G. Bilakhia & Shri Anjum G. Bilakhia.
2000
- Care has assigned `AA+' rating to the company Rs. 30-crore secured NCDs. CARE has upgraded its earlier rating from `AA' to `AA+' assigned to the company existing Rs. 20-crore secured NCD issue.
- The Comp. has recommended issue of bonus shares in the ratio of one share for one held.
- The Comp. has set up a wholly-owned subsidiary in the USA, with a paid up equity capital of $6.5 million, called Micro Inks Corporation.
- The Comp. has commercially commissioned a speciality flushed colour/pigment plant having a capacity of 3,000 mt per annum & a resins plant having a capacity of 18,000 mt per annum in the first and second week of August.
- Issue of 2,50,000 Red. Cum. Preference Shares of Rs 100/- each at premium of Rs. 900/- per share at a coupon rate not exceeding 9.5% of the face value aggregating to Rs 2500 lac on private placement basis.
- The Comp. has commissioned its manufacturing plant at Vapi, Gujarat.
- The Comp. issued 2,50,000 95% Cumulative REdeemable Preference Shares of Rs. 100/- each at a premium of Rs. 900/- pr share to a Bank and a Body Corporate as authorised by Members of company.
- The equity capital of Comp. will increase to Rs.1366lakh from Rs. 683 lakhs on issueof hte Bonus Shares in the ratio of one share for one share held as approved by hte Member of hte Comp. at the Annual General Meeting of Comp. held on 28th September.
- The company proposed commercial paper programme of Rs 12 crore has been assigned `PR1+' rating by CARE.
2001
- The Comp. has been assigned `PR1+' rating by Credit Analysis and Research Ltd for its Rs 150 million commercial paper programme.
- Bilakhia Holdings Pvt limited has informed that it will acquire, any time after four days, 92,64,160 equity shares of company.
- The rights issue of 8197200 equity shares of Rs.10 each for cash at a premium of Rs.230/- per equity share aggregating to Rs.1967.3 million of Comp. has closed for subscription on October 27, 2003.
2004
-Hindustan Inks And Resins Ltd has informed that the equity shares of Comp. have been voluntarily de-listed in terms of Clause 5 of SEBI [Delisting of Securitiess] Guidelines, 2003 from the Delhi Stock Exchange Association Ltd effective January 23, 2004 & The Stock Exchange, Ahmedabad effective January 30, 2004.
-Company name changed from Hindustan Inks and Resins limited to Micro Inks limited after adopting the name of its US-based wholly-owned subsidiary