YEAR EVENTS
1989 - The Comp. was Incorporated on 10th April, & obtained the
Certificate of Commencement of Business on 6th June. It was
promoted by Shyam Sing, Ravi Tandon, S.S. Mann & Mrs. Shashi
Singh with financial assistance from Haryana State Industrial
Development Corporation limited [HSIDCs] & equity participation
from the government of Haryana, through HSIDC.
- The Comp. had set up a project to manufacture a wide range of
processed food products comprising of confectionery, co-extruded
chocolate & cream-filled pillows & other ready to eat cereal
based food products which are highly nutritive.
- The Company object is to manufacture processed food products.
1991 - All shares taken up by promoters, directors etc.
1992 - The Comp. introduced corn flakes in the market & also
proposed to introduce new flavours in Ruskies, additional
savoury items & other namkeen snacks.
- The Comp. embarked upon an expansion plan for increasing its
product range by including a variety of new products like
chocolate coated biscuits, moulded chocolates, sweet coated puffs
& breakfast cereals for domestic & export markets.
- The objects of public issue of capital made in February were:
- [is] to meet the cost of expansion project and
- [iis] to get the company shares listed on Stock Exchanges.
- 25,60,000 No. of equity shares of Rs.10 each then issued at par
of which 5,15,380 shares were reserved & allotted to Indian
resident directors, etc. 1,28,000 shares were reserved for
preferential allotment to employees etc. of company. [Only
1,01,720 shares taken ups]. The remaining 19,16,620 shares
alongwith 26,280 shares not taken by employees etc. were offered
to the public in February. Additional 5,07,800 shares were
allotted to retain oversubscription [2,01,200 shares to
promoters, directors etc. & 3,06,600 shares to the publics].
Another 1,00,000 shares of Rs.10 each were allotted to Risk
capital & Technology Finance Corporation, limited [RCTCs] in
conversion of loans.
