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History of Philips Glass India Ltd.

YEAR EVENTS 1992 - The Comp. was incorporated as a public limited Comp. on 13th November, with Registrar of Companies, Gujarat at Ahmedabad. Comp. has been promoted jointly by Crompton Greaves limited and Commonwealth Development corporation, U.K. The main objective of the Comp. os to manufacture of glass shells, tubular shells and lead glass tubings.

1994 - Comp. has come out with a public issue of 82,00,000 No. of equity shares at a premium of Rs. 20 per share. Comp. has also issued shares to promoter companies, Crompton Greaves limited & Commonwealth Development Corporation, U.K. of premium of Rs. 10 per share.

1995 - 159,79,993 No. of equity share of Rs. 10 each at a premium of Rs. 10 per share allotted to Promoters, Crompton Greaves Ltd., directors, friends & relatives. 82,50,000 No. of equity shares of Rs. 10 each at a premium of Rs. 20 per shares were allotted to the public.

- 12,22,222 No. of equity shares of Rs. 10 each at a premium of Rs. 17 per share allotted to Demaglass Lighting Ltd., U.K. through conversion of loan into equity.

1996 - The Comp. was a major supplier to all the leading Light Source Manufacturers like Philips India, Surya Roshni, Wipro Lighting & Mysore Lamps Works apart from Crompton Greaves.

2002-CG Glass Ltd has informed BSE that the shareholders of Comp. have approved merger of Comp. with Phillips India Ltd.