1954 - The Comp. was incorporated, on 18th February, at Mumbai. The Comp.
manufacture dyes for cellulosic fibres [cotton, viscose & polynosicss], polyester,
nylon, silk, wool & leather; pigments for paints, printing inks, surface coatings;
plastics colourants & rubber colourants; intermediates for dyes, agrochemicals,
pharmaceuticals, paints & plastics & optical whiteners for cellulosics, soaps
1955 - 7,500 Pref. & 7,500 No. of equity shares taken up by directors, etc. Balance issued
to the public in April 1954.
1966 - 596 No. Equity shares & 2,500 Pref., shares allotted to ACNA.
1967 - 7 No. of equity shares & 2,300 Pref. shares allotted to ACNA.
1970 - 50,000 Bonus Equity shares issued in the prop. 1:5.
1975 - 1,50,000 Bonus Equity shares issued in prop. 1:2.
1977 - 1,50,000 Right Equity shares issued [Prem. Rs 100 per share; Prop. 1:3s] during
1980 - 1,50,000 Bonus Equity shares issued in prop. 1:4.
1983 - Mahaamba Investment Ltd., became a subsidiary of Company.
- In December, the Comp. concluded an agreement for providing know-how for
manufacture of vat dyes with Bangladesh Dyestuff Industries Ltd., Dhaka, Bangladesh.
Rs 4 lakhs was received as know-how fees during the year.
- The Comp. undertook to participate in another joint venture in U.S.A. for manufacture
of vat dyes.
1986 - Letters of intent were received for expansion of capacity of sulphuric acid plant
from 33,000 tonnes to 1,00,000 tonnes & that of sodium hydrosulphite from 5,057
tonnes to 10,000 tonnes per annum at Kalyan under the scheme of minimum economic
scale of operations.
- The letters of intent for manufacture of optical whitening agents & cyanuric chloride
were converted into industrial licences.
- The Company application for endorsement of capacity of phthalic anhydride from
9,700 tonnes to 15,000 tonnes per annum was approved by Government under the
scheme of minimum economic scale of operations.
1987 - During June 1,50,000-12.5% fully convertible debentures of Rs 300 each were offered on
Rights basis. Additional 37,500 debentures were allotted to retain oversubscription.
Another 7,500 debentures issued to employees' [only 3,130 debs. taken ups].
- The whole amount of Rs 300 of each was converted into equity shares of Rs 100 each at
a premium of Rs 50 per share in the first & second stages of conversion. Accordingly,
1,90,630 No. of equity shares were allotted on 1st April, 1988 & another 1,90,630 No. of
equity shares were allotted on 1st April, 1989.
1988 - 37,500 Pref. shares redeemed. 1,90,630 No. of equity shares allotted [prem. Rs 50 per
shares] in conversion of debs. on 1st April.
1989 - The Comp. received a letter of intent for manufacture of 800 tonnes per annum of
agrochemicals namely monocrotophos & phosphamidon at Boisar plant.
- 1,90,630 No. of equity shares allotted [prem. Rs 50 per sharess] in conversion of debs.
on 1st April.
1991 - Government of India approval was received for setting up of 100% EOU in the name
of ECS Chemicals India Ltd., for manufacture of copper phthalocynines Crude [CPCs] in
collaboration with EniChem Synthesis SpA of ENI group of Italy.
1994 - A new Comp. under the name & style of Mafatlal Rose Color Industries Ltd., was
incorporated to implement a project for establishing production facilities at Ranoli in
Baroda Dist. for manufacture of speciality dyes under technical know-how & financial
participation of M/s. Rose Color Inc., of USA.
- Another new Comp. under the name & style of Mafatlal CarbonTechnologies Ltd.,
was incorporated as a public limited Comp. for manufacture of Activated Carbon in
collaboration with an American Comp. in south India.
- Mafatlal Rose Color Industries limited became subsidiary of Company.
- On 29th March, the Government of India approved the issue of equity shares represented
by Global Depository Receipts [GDPss] abroad for an amount of US $20 million with 5
underlying equity shares represented by 1 GDR.
- The Comp. undertook to participate in a joint venture at Bangkok in Thailand for
manufacture of dyestuffs.
- A new companmy under the name & style of Matangi Dyestuff Industries Ltd., was to be
incorporated in Thailand for manufacture of dyestuffs.
1995 - The Comp. participated with Ciba Group of Companies to set up a new joint venture
Comp. for marketing upgraded quality of pigments & improve the capacity
utilisation of plant.
- During January, the Comp. offered 73,00,300 No. of equity shares of Rs 10 each at a
premium of Rs 65 per share to public & at a premium of Rs 80 per share to FIIs, FIs/MIFs.
Out of above 11,00,000 shares reserved for Mutual Funds [All were taken ups], 14,60,000
shares [Prem. Rs 80s] reserved for UTI [All were taken ups] 4,00,000 shares [Prem. Rs 80s]
reserved for FIIs [All were taken ups], 7,30,000 shares [Prem. Rs 65s] for employees [Only
2,85,700 shares were taken ups], 36,10,300 shares [Prem. Rs 65s] to Public [All were taken
up including unsubscribed portion from employees categorys].
- The Comp. offered 33,93,780 No. of equity shares at a premium of Rs 40 per share to
the existing equity share holders in the ratio of 3:10. All were taken up.
1996 - A joint venture Comp. viz., Pigment Specialities India Pvt. Ltd., was formed in association
with Ciba group, Switzerland for marketing up-graded quality of pigments & improving
capacity utilisation of pigments plants.
- The Comp. promoted a new joint venture Comp. with Ciba group in Mumbai by name
Indo Swiss Textile Chemicals Ltd., with the object of developing, manufacturing &
marketing in India, Disperse, Acid & Reactive Dyes for textile use.
1997 - The Comp. has promoted a new joint venture Comp. with CIBA Group in Mumbai,
India, by name INDO SWISS TEXTILE CHEMICALS LTD.,
- On 21st March, Mr. V.D. Widge & Mr. AR. Vatsaraj were appointed as Directors to fill
in the casual vacancies & Mr. K.M. Modi was appointed as an Additional Director.
1998 - Kalyan Unit & Tarapur Unit of Comp. were awarded ISO-9002 certification by
Bureau Veritas Quality International for Quality Management System.
- Ms. Usha Venkatesan [UTI Nominees] & Mr. Jaykrishna Harivallabhdas, resigned as
Directors of Company. Mr. D.S.R. Murthy was appointed as their Nominee
Director on the Board in place of Ms. Usha Venkatesan.
1999 - The Comp. has entered into a joint venture with CIBA for Pigments.
- The name of Comp. has been changed to IDI LIMITED with effect from 6th
2000 - Steps to be taken for merger of Mahaamba Investments Ltd., a wholly-owned
subsidiary of Comp. with the company.