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History of RSWM Ltd.

YEAR EVENTS 1960 - The Comp. was incorporated on 17th October, at Calcutta. The main objective of Comp. is to manufacture cotton yarn and cloth, staple & viscose yarn & polyester blended yarn.

1961 - Issued 45,000 No. of equity shares to directors, etc. & 4,000 Pref. & 20,000 No. of equity shares to Rajasthan Govt. 20,000 Pref. & 1,75,000 No. of equity shares offered to public to October.

1970 - Issued 1,31,449 Bonus equity shares in the prop. 3:10.

1973 - 3,06,716 bonus equity shares issued in the prop. 7:13.

1976 - 2,20,000 No. of equity shares allotted at par to financial institutions on conversion of loans. 10,96,430 bonus equity shares were then issued in the prop. 1:1.

1978 - 6,000-9% Pref. shares redeemed. 30,000-11% Pref. shares issued to GIC & its subsidiaries. 11% Pref. shares redeemable during 1.7.1991/94.

1980 - The Comp. received a letter of intent for manufacture of polyester sewing thread with an annual capacity of 120 tonnes. Collaboration agreement was entered into with Zwicky and Co., Switzerland.

- 92,500 equity shares allotted at par to financial institutions on conversion of loans.

1981 - 7,62,398 bonus equity shares issued in prop. 1:3.

1986 - The Comp. received registration for a sponge iron project. Letters of intent were received for setting up of;

- [is] a 12,000 spindles worsted spinning project and

- [iis] process house for processing 240 lakh metres of suitings, shirtings, sarees & dress material.

1987 - The labour trouble of July/September settled down.

- The Comp. undertook another modernisation programme the machinery installed including the latest autoconers with splicing & electronic yarn cleaning arrangements & two for one twisters along with latest carding machines.

1990 - 6,912 spindles were added in the Banswara Unit.

1991 - 30,49,593 bonus shares issues in the prop. 1:1.

1992 - The Comp. undertook expansion of spindles of polyester viscose yarn at Banswara to increase its installations of P/v spindles from 18,576 to 27,792 nos. Also another project for manufacture of P/c yarn was undertaken at Banswara by installing 9,216 spindles.

- The Comp. undertook to install 9,216 spindles at Bhilwara for manufacture of milange yarn.

- Memorandum of Understanding was signed with the Madhya Pradesh Government for beneficiation of 2000 TPD of rock phosphate integrating it to manufacture of single phosphoric acid, super phosphate & di-ammonium phosphate.

- The Comp. has entered into a Memorandum of understanding with RIICO for putting up a Granite Processing Plant in Rajasthan and has taken four mining leases for granite.

1993 - The Comp. had signed two MOUs with Himachal Pradesh Government for implementing the 86 MW Malana & 180 MW Allain Duhangan projects located in district Kullu in H.P. The project is proposed to be set up as a division of company.

- Bhilwara Melba De Witte Ltd is a joint venture between the Comp. & its Australian & Belgian partners.

1994 - 10,368 spindles on polyester blended yarn were installed and commissioned at Kharigram unit. Later Rieters from Switzerland, Autoconers from Schlaforst [Germanys] & Two-for-One Twister from S. Korea were installed. Also 24 Sulzer weaving looms were installed.

- The Comp. installed singeing machine from Parex, UK, KD Suprema from Biella [Italys], Contifit from Menschner [Germanys] and obtained dyeing technology from S. Korea for manufacture of `Mayur' fabrics which matches world best processed fabric.

- The major work was undertaken for setting up a project for manufacture of polyester staple fibre to produce 80,000 TPA.

- The Comp. along with its group Comp. HEG limited & in partnership with a US based Cellular Comp. is to promote 'Bhilwara Cellular Ltd.'

- The Comp. along with RSW International, Montreal, Canada promoted [on a 50:50 basiss], a consultancy Comp. with an initial equity share capital of Rs. 63 lakhs.

- 60,09,186 bonus shares issued in prop. 1:1. 20,67,875 equity shares allotted at a prem. of Rs. 145 per share to promoters; directors etc. on preferential basis. 20,67,835 bonus equity shares allotted. Prop. 1:1 as above pref. issue. 35,50,000 equity shares allotted in private placement basis to financial Institutions and Mutual Fund.

- The Comp. has also signed a MOU with M/s. Hydro Quebec International, Canada for implmentation of these projects.

1995 - The Comp. has entered into negotiations with Dominion Textile Inc., Canada, for 51:49 partnership for setting up an integrated 24 mn. mtrs. per annum high value added Denim manufacturing facility in Madhya Pradesh.

1996 - The overall performance of Comp. improved due to higher volume of sales, better product-mix & improvement in techno-economic parameters despite continuous fluctuation in yarn prices owing to fall in polyester staple fibre.

- The Comp. was planning to complete expansion plans by adding 9,360 spindles at Melange unit for manufacturing fancy dyed cotton yarn & 8 Airjet looms at Gulabpura to take care of increased requirement of fabric exports. The Comp. also plans to add some two-for-one twisters at Banswara unit to increase the doubling capacity.

- The Company strategy of high value added product diversification, it has entered into a 50:50 Joint Venture tie-up with Australia leading manufacturer of Automotive Furnishing fabrics - CALUM AUSTRALIA PTY. LTD., to manufacture their product range in India, with a capacity of 1.8 million. mtrs. per annum.

1997 - It was also proposed to install 16 airjet looms at Gulabpura besides modernisation of spinning division. It was also proposed to implement a balancing scheme & further expansion of polyester cotton spinning at Banswara.

- The Comp. set up a separate power division & the power division was to set up two power plants of capacity 4.2 MW each at Gulabpura & Banswara. These power plants are to be commissioned by May 1993.

- Subject to necessary approvals being obtained the company proposed to amalgamate Bhilwara spinners limited with itself.

- The Compny has entered into joint venture agreement with $110-million Calum Australia Pvt. limited & $125-million De Witte Lietaer of Belgium for manufacture of automotive furnishing fabrics.

1998 - Malana Power Comp. Limited the wholly owned subsidiary of the Comp. proposes to wheel the power from Himachal Pradesh to Rajasthan for captive consumption by LNJ Bhilwara Group Companies.

2000 - The Comp. has signed separate agreements with NSDL & CDSL to facilitate all types of investors to hold & trade in the company equity shares in dematerialised [electronics] mode.

2003

-Rajasthan Spg. and Wvg. Mills limited has informed that on request of Comp. for voluntary delisting of its equity shares, the Comp. has received communication from The Delhi Stock Exchange Association Limited [DSEs] that the equity shares of Comp. have been delisted from the stock exchange [DSEs] w.e.f. December 29, 2003.