History of Aurangabad Paper Mills Ltd.

YEAR EVENTS 1977 - The Comp. was incorporated as a public limited Comp. on 6th January. It was promoted by Parmeshwar G Mittal & Malivam G. Mittal. The Comp. manufacture pulp, paper & boards of all kinds.

1978 - 600 shares subscribed for by signatories to the Memorandum of Association. 4,15,400 shares taken up by promoters, etc. 6,24,000 shares offered at par to the public in Sept. 1977.

1982 - 1,25,000 Rights Equity shares issued in prop. 1:8.

1984 - The Comp. obtained a letter of intent for increasing the capacity from 9,000 tonnes to 16,500 tonnes.

1988 - The Comp. had taken up an expansion-cum-diversification scheme for manufacture of 16,500 tonnes per annum [60 tonnes per annums] of Central varieties of paper such as cream wove & glazed news print, etc. An additional paper machine was installed for this purpose.

1990 - 15,79,925 No. of Equity shares allotted [prem. Rs 10 per shares] as Rights & to employees & public.

1991 - The Comp. undertook Cost Reduction Project which will increase the cost effectiveness of Comp. by way of reduction in the cost of utilities.

- The Comp. issued 19% non-convertible debentures for Rs 200 lakhs to Citibank N.A. on private placement basis. These debentures are to be redeemed at 5% premium at the end of 7th year from the date of allotment.

- During January, the Comp. issued 4,27,500 No. of equity shares of Rs 10 each at a premium of Rs 10 per share on rights basis in the proportion of 36:10. All were taken up. Additional 64,125 shares were allotted to retain over subscription.

- Another 21,400 shares of Rs 10 each at a premium of Rs 10 per share were offered to the employees. All were taken up. Additional 3,200 shares were allotted to retain over subscription.

- Simultaneously with the rights issue, the Comp. issued 9,25,000 No. of equity shares of Rs 10 each at a premium of Rs 10 per share through prospectus out of which [is] 92,500 shares to promoters, [iis] 46,250 shares to employees were reserved and allotted on preferential basis. The remaining 7,86,250 shares were offered to the public. Additional 1,38,700 shares were allotted to retain over subscription [13,900 shares to promoters, 6,950 shares to employees and, 1,17,850 shares to the publics].

1994 - The Comp. conceived three new projects involving; installation of Soda Recovery Plant for recovering of black liquor; installation of composite pulping plant & modernisation of kraft paper machine to give value added products.

- The Comp. has entered into a MOU with NPPM for supplying black liquor to NPPM & take back white liquor from it.

- 7,00,000 No. of equity shares allotted at a premium of Rs 25 per share to promoters on preferential basis. 13,72,463 Right Equity shares issued [Prem. Rs 25; Prop. 1:2s]. Only 11,69,213 shares taken up out of 2,03,250 shares. 2,00,000 shares allotted to ICICI.