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History of National Steel & Agro Industries Ltd.

YEAR EVENTS 1985 - The Comp. was incorporated on 9th January, at Indore [M.P.s] and obtained the certificate of commencement of Business on 4th October. It was promoted jointly by A.C. Patel of M/s. Viscus Santosh Kumar Sahara [promoters of Ruchi Soya Industries Ltd.s] & MPAVN.

- The Comp. manufactures galvanised plain & galvanised corrugated sheets/coild of lighter guage.

- The Comp. undertook to set up a project for manufacture of galvanised plate & galvanised corrugated sheets/coils of higher gauge - 0.18 mm to 0.5 mm with an installed capacity of 40,000 tpa.

- The Comp. entered into an agreement with Cockenill Mechnical Industries, for training of technical personnel, supervise erection of machinery, manage start up operations etc.

1995 - 7 No. of equity shares of Rs. 10 each subscribed for by signatories to the Memorandum of Association. 61,79,993 No. of equity shares of Rs. 10 each were issued at par in February 1987 of which the following were reserved & allotted in a firm basis:

- [is] 6,18,000 shares to MPAVN.

- [iis] 14,09,993 shares to private sector promoters.

- [iiis] 13,52,000 shares to NRI promoters.

- Of the remaining, the following were reserved for allotment on a preferential basis:

- [is] 11,20,000 shares to NRSS on repatriation basis.

- [iis] 3,09,000 No. of equity shares to employees of Company & associate companies & MPAVN [only 1,700 shares taken ups].

- [iiis] 56,000 shares to business associates of Company.

- Balance 13,15,000 shares along with 307,300 shares not taken up by employees issued to the public. Additional 700,000 shares allotted to retain oversubscription.

- 34,40,000 rights equity shares issued in prop. 1:2 in December 1988, totally 39,56,000 shares allotted [of these 15,26,800 shares otherwise allotteds] Another 1,72,000 shares issued to employees on an equitable basis.

- 1,00,000 No. of equity shares allotted to MPAVN on preferential basis 216,72,000 rights shares issued in October 1992 [prem. Rs. 20; prop. 1:1s]. Of these 5,058 remained unissued.

2003

-The company shares will be delisted from Delhi and MP Stock Exchanges.