History of Tulsipur Sugar Comp. Ltd.

YEAR EVENTS 1959 - The Comp. was incorporated on 21st April, at Calcutta. The Comp. manufacture sugar.

- On 1st July, the Comp. took over the assets & liabilities of the Balrampur Sugar Co. Ltd., pertaining to its Tulsipur Sugar factory as per the scheme sanctioned by Calcutta High Court by allotment of equity shares to the shareholders of Balrampur Sugar.

1960 - 1,14,007 Right Equity shares of Rs 5 each issued in prop. 1:1.

1966 - 2 Equity shares issued for cash & 70,004 Bonus Equity shares issued in prop. 1:4.

1968 - 70,004 Bonus Equity shares issued in prop. 1:5.

1979 - 4,20,024 Rights Equity shares issued at par in prop. 1:1 on 4th September.

1980 - 2,10,012 Rights Equity shares issued at par in prop. 1:4 on 3rd March.

1984 - Equity shares of Rs 5 each consolidated into Equity shares of Rs. 10 each on 30th March.

1986 - The Comp. undertook a modernisation scheme involving a total outlay of Rs 55 lakhs.

1988 - The Comp. undertook another modernisation-cum-expansion programme to increase the crushing capacity further to 2,500 TCD from 1,700 TCD involving a total capital outlay of Rs 465 lakhs.

1993 - The Comp. received industrial licence to increase the crushing capacity from 1700 TCD to 2500 TCD for which total loan of Rs 418 lakhs was received from the financial institutions & Govt. of India under the Sugar Development Fund.

- The Comp. also proposed to further increase its crushing capacity to 4000 TCD & diversify its activities.

- 5,25,030 bonus shares issued in prop. 1:1.

1994 - The Comp. offered 7,87,545 bonus shares in the ratio of 3:4 to the shareholders.

- Simultaneously, there was a public issue of 23,50,000 No. of equity shares of Rs 10 each at a premium of Rs 22 per share. The Comp. also allotted Rights Issue of 9,18,803 No. of equity shares of Rs 10 each at a premium of Rs 5 per share in the ratio of 1:2.

- The Comp. has received industrial licence for increase in the crushing capacity of sugar factory from 1700 TCD to 2500 TCD.

- The Comp. is having schemes for reducing consumption of energy by synchronising the High Pressure Boilers & modifying the other equipments.

1995 - The Comp. has plans to further increase its crushing capacity to 3100 TCD before the start of crushing season.

- During February/March, the Comp. issued 32,68,803 No. of equity shares of Rs 10 each at a premium of Rs 22 per share as follows: On firm allotment basis:

- [is] 2,00,000 shares to CRB Mutual Fund;

- [iis] 5,64,000 shares to NRIs/OCBs.

- Of the remaining, 35,000 shares reserved for allotment on preferential basis to employees of Comp. [all were taken ups]. Balance 15,51,000 shares were issued to the public [all were takens].

1997 - The Comp. is entitled for 100% Free Sale Sugar for expanded capacity of 2,500 TCD as per 'Sugar Incentive Scheme 1993'.

- Various energy saving devices such as Evaporators, Centrifugal Machines have been installed to achieve reduction in energy inputs.

- Tulsipur proposes to increase the authorised capital of the Comp. from the present level of Rs 7.20 crore, comprising Rs 7 crore as equity shares of Rs 10 each & 20,000 preference shares of Rs 100 each, to Rs 15.20 crore.

1998 - Balrampur Chini Mills Ltd [BCMLs], which recently entered into a memorandum of understanding to acquire about 51 per cent of Tulsipur Sugar Company, has received 134,76,846 shares from its pen offer representing nearly 27 per cent of equity capital of Tulsipur Sugar.

- The expansion capacity of Comp. was further increased to 5000 TCD.

1999 - The proposal for merger of Balrampur Chini Mills Ltd [BCMLs] with its subsidiary, Tulsipur Sugar Co. Ltd [TSCLs], was approved by BCML's.

- With effect from 1st April, the Comp. was merged with Balrampur Chini Mills limited Balrampur Chini Mills Ltd., has acquired 71% equity share of Company.

- During the 1998-99 crushing season the unfavourabe weather conditions had negative impact both on recovery & cane availability.