History of Orient Paper and Industries Ltd.
YEAR EVENTS 1936 - The Comp. was incorporated on 25th July, at Calcutta. The Comp. Manufacture Paper and boards and Cement.
1955 - 50,000 right tax-free pref. shares issued at par in proportion to holdings.
1956 - Authorised capital increased. 50,000 right tax-free pref. issued at par in proportion to holdings.
1961 - In May, 4,40,475 right equity shares issued at a premium of Rs 12 per share in prop. 3:10. Dividend rate on pref. shares increased during the year.
1967 - 19,08,725 bonus equity shares issued in the prop. 1:2.
1978 - The name of Comp. was changed fron Orient Paper Mills Ltd. to Orient Paper and Inds. Ltd., with effect from 31st September.
- A pilot pulp & paper plant was commissioned in February. The pulp mill was redesigned for production of bleached pulp from rags, hemp, cotton, stalk, etc., as also from bamboo or other forest and/or agricultural residents.
1982 - In September, a cement plant was commissioned at Devapur [APs] with an annual capacity of 9 lakh tonnes.
- 1,01,132-7.86% pref. shares & 43,850-5.50% pref. shares redeemed.
1985 - 8,00,000-15% non-convertible debenture [IV Seriess] of Rs 100 each were issued to augment long-term working capital resources & to meet capital expenditure for modernisation. This issue was fully subscribed.
1986 - The Comp. offered 15,000-15% non-convertible debentures [V seriess] for Rs 15 crores to raise part of finance for implementing the second phase of cement plant at Devapur in Andhra Pradesh [all were taken ups].
- 57,26,175 bonus equity shares issued in prop. 1:1 during the year. 1989 - As on 31st March the Comp. was holding 38,66,593 equity shares of K.shr 20 each in Panafrican paper Mills [E.A.s] limited Kenya.
- The agreement with Panafrican paper Mills [E.A.s] limited for providing technical know-how, management & other services was renewed for a further period of 5 years with effect from 30th June.
- During February-March, the Comp. offered 4,30,000-14% non-convertible secured debentures [VI seriess] of Rs 100 each to resident holders of equity shares, preference shares and debentures of Comp. as follows: [is] 1 debenture for every 120 No. of equity shares; [iis] 1 debenture for every 12 preference shares; [iiis] 1 debenture for every 12 debentures.
- These debentures are to be redeemed in 5 annual instalments of Rs 20 each at the expiry of 5th, 6th, 7th, 8th & 9th year from the date of allotment at a premium of Rs 5 per debenture.
1990 - Towards the end of year the second unit of cement factory to raise the installed capacity to 9 lakh TPA, was commissioned.
- The Comp. issued 5,00,000-14% secured non-convertible debentures of Rs 100 each on private placement basis with financial institution.
- CCI approvals were received for issue of 28,75,000-12.5% secured redeemable partly convertible debentures of Rs 130 each on Rights basis to the ordinary shareholders in proportion 1 deb: 4 equity share held [all were taken ups]. Additional 4,30,650 debentures were allotted to retain oversubscription.
- Another 1,43,750-12.5% partly convertible debentures were also to be issued to the employees of Comp. on an equitable basis. [only 79,360 debentures taken ups].
- Rs 40 of face value of each debenture was to be converted into one equity share of Rs 10 each at a premium of Rs 30 per share on 21.5.92. Rs 90 of face value of each debenture was to be redeemed at par in 3 equal annual instalments at the end of 8, 9, 10 years from the date of allotment of debentures.
- `Orient General Industrial, Ltd.', `Airconditioning Corporation, Ltd.', & `Opi Export, Ltd.' [formerly, Motolite Ltd.s] and Orient Dealers and Traders, limited are the subsidiaries of the Company.
- As per the directive issued by Board for Industrial & Financial Reconstruction [BIFRs], Springs India, limited [SILs], with an installed capacity of 540 TPA of precision springs at Shahibabad, Dist. Ghaziabad [U.P.s] was merged with the Company's wholly owned subsidiary M/s. Orient General Industries, Ltd. [OGILs].
1991 - The Comp. undertook to supply technical know-how for the manufacture of paper in & outside India. A full fledged research was therefore set up at Amlai for conducting research on various aspects of paper industry, research on plantation and utilisation of various fibrous materials to and solve the problems of availability of raw materials for manufacture of paper.
- Research work was undertaken on utilisation of several kinds of wood for manufacture of paper & treatment of mill wastes.
- The Comp. undertook to expand the capacity of mill from 96,000 TPA to 1,50,000 TPA by installing a bagasse based pulp plant & a Board machine.
- The Comp. entered into an arrangement with Birla Brothers Pvt. Ltd., for participation in the expansion project of Nigerian Paper Mills, Ltd., Tebba, Nigeria. The Comp. was to receive in consideration of its technical services & know-how from Birla Brothers Pvt. Ltd.
1992 - First stage of oxygen bleaching was commissioned for improved brightners of paper. The second stage of chlorine di-oxide bleaching was commissioned during 1993-94.
- On 24th June, a Memorandum of understanding was entered into with State Industrial and Investment Corporation of Maharashtra Ltd., [SICOMs] for setting up a 80,000 TPA bagasse based plant to produce newsprint/working & printing paper. Efforts were on to implement the joint sector Comp. in the name of Birla Paper Industries, Ltd.
- 33,85,010 No. of equity shares allotted [prem. Rs 30 per shares] on part conversion 12.5% debentures Pref. shares redeemed on 31.5.1993.
1994 - Production at both the paper mills at Amlai & Brajrajnagar was adversely affected due to water shortage during the summer months.
- At Amlai a new drum chipper was install at the Brajrajnagar mills, orders for 350 TPD recovery boiler, an additional Drum Chipper & a new coal handling plant was placed.
1995 - The Comp. granted technical & financial collaboration to Panafrican Paper Mill [E.A.s] Ltd., for setting up pulp & paper mill in Kenya.
1996 - The Mill at Amlai was shut for a period of 5 weeks due to acute shortage of water. The production of Brajrajnagar was also affected due to breakdown of machinery & slow down tactics adopted by workmen in some sections of mill.
- A 6 MW Back Pressure Turbine was commissioned at Amlai to reduce power cost & reduce dependence on outside supply.
- The installed capacity of plant was expanded to 11.8 lakh tonnes per annum. Further modernisation cum expansion scheme was under implementation to increase cement manufacturing capacity to 17.5 lakh tonnes per annum.
1997 - At the Brajrajnagar Unit due to a major overhaul of plant and equipment, the entire plant was shut for nearly 3 months resulting in lower total production of paper & board.
- The upflow tower system, for chlorine dioxide bleach plant at Amlai & the 350 tonnes recovery boiler & electrostatic precipitator at Brajrajnagar were commissioned. The new tissue plant at Amlai was also commissioned.
- The Modernisation cum expansion scheme to increase the cement manufacturing capacity to 17.5 lakh tonnes p.a. including setting up of split grinding unit of 5.70 lakh tonnes per annum at Jalgaon.
2000 - C.K. Birla-owned Orient Paper & Industries Ltd has decided to sell its cement division.
- M.M. Yesaw, General Manager, IDBI has been appointed as Director of Comp. effective from 21st July.
2001 - The Company shareholders have proposed to issue, offer & allot 75,00,000 ordinary shares of Rs 10 each to promoters, group companies & their associates for an aggregate amount of Rs 19.50 crore at Rs 26 per share on private placement basis.
2003
-Orient Paper gets environment award for year
2004
-Orient Paper and Industries Ltd has informed that V Nachiappan, General Manager, ICICI Bank limited has been appointed as a Director of company, nominee of ICICI Bank limited in place of Shri Balaji V Swaminathan, the existing nominee of ICICI Bank limited with effect from May 25, 2004
2007
-The Comp. has issued rights in the ratio of 3:10 at a premium of Rs.350/- Per Share.
2008
- The Comp. has splits its face value from Rs10/- to Rs1/-.
