History of Incab Industries Ltd.

YEAR EVENTS 1920 - The Comp. was incorporated at Calcutta. The company factory at Tatanagar is served by its own railway siding. Road transport facilities are also available. The factory stands in an area of 170 acres & employs more than 3,000 persons.

- The main objects & activities of Comp. include manufacturing & dealing in electrical cable & wires of all descriptions. The Comp. also acts as electrical engineers. Among the products manufactured are bare conductors, rubber & Thermoplastic insulated cables, winding wires, paper insulated power cables etc.

- The factory consists essentially of six main production units grouped as Rod mill, Wire Mill, winding Cables & Thermoplastic cables. The installed capacity of these units on a single shift working per month is as follows: Rod Mill - copper/aluminium rods - 1,016/330 tonnes, Wire Mill - 465 tonnes, copper 300 tonnes aluminium, Winding Wires - cotton & paper covered wires and strips metres, P.V.C. cables & flexibles, 2 million metres, Paper Insulated Power Cables 54.3 Kilometres.

- Apart from the manufacturing sections, the Comp. has a Contract Department which is engaged in providing improved services to the factory various production units.

- The Company products are marketed under the trade name `Paramite' for rubber insulated cables, `Paramex' for winding wires [synthetic enabelleds], `Cableco' for bare conductors and other types of winding & `Paracom' for H.T. insulation compound, & `Partape' for H.T. insulating tape.

- In any year, after paying the preference dividend, a non-cumulative dividend of 6% to be paid on Equity shares, and the balance, if any, to be divided among Equity & Pref. shares in prop. to the capital paid-up.

1926 - 45,000 Pref. shares issued at par.

1927 - 8,775 Pref. shares issued at par.

1951 - 5,57,550 Bonus Equity shares issued in prop. 2:1. [Pref. or Equitys].

1952 - 8,21,372 Right Equity shares offered at par in prop. 1:1. [Equity/ and/ or Pref.s].

1958 - 8,28,848 Right Equity shares offered at par in the prop. 1:2. [Equity/ and/ or Preferences].

1965 - In Septembre 1962, Pref. shares converted into Equity shares in prop. 1:1.

1967 - In March, 16,57,696 Bonus shares issued in prop. 2:3.

1972 - 5,72,427 shares allotted to shareholders of Western Insulated Cable Co., Ltd., on its merger with the Company.

1975 - 15,72,222 Bonus shares issued in prop. 1:3.

1984 - The Comp. undertook modernisation of its manufacturing facilities. The second phase of modernisation of enamelling wire plant was completed during 1986-87.

1987 - To augment working capital, the Comp. issued 15% secured debentures for Rs.250 lakhs as rights to resident Indian shareholders in prop. 1 debenture of Rs.100 for every 19 No. of equity shares of Rs.10 each held.

- At the time of incorporation, the name of Comp. was The Indian Enfield Cable Co. limited Subsequently, the name was changed to The Incab Industries Ltd., with effect from 1st May.

1988 - The Comp. issued 14% non-convertible debentures aggregating Rs.500 lakhs on private placement basis with financial institutions & Army Group Insurance Fund.

1989 - The Comp. undertook to set up a project for manufacture of jelly filled telecommunication cables at Jamshedpur in technical collaboration with Ericeson Cables AB, Sweden.

- The Comp. received the prototype approval from the Department of Telecommunication for range of telecommunication cables upto & including 200 pairs.

1990 - In February, the Comp. received the industrial licence for the manufacture per annum of 800 km. of PVC power cables.

- During February-March, the Comp. offered 20,96,297-12.5% secured fully convertible debentures of Rs.80 each on Rights basis in the prop. 4 debenture : 3 equity shares held [all were taken ups].

- Another 1,04,815 debentures were issued to the employees on an equitabale basis [only 7,130 debentures taken ups]. Unsubscribed portion of 97,605 debentures was allowed to lapse.

- Face value of each debenture of Rs.80 was to be converted into 2 equity shares of Rs.10 each at a premium of Rs.30 per share on the expiry of 6 months from the date of allotment of debentures.

- Simultaneous to the rights issue, the Comp. issued through a prospectus 11,00,000-12.5% partly convertible debentures of Rs.130 each of which the following were reserved for allotment on preferential basis.

- [is] 55,000 debentures to employees etc. [all were taken ups];

- [iis] 2,20,000 debentures to NRIs on repatriation basis [only 44,075 debentures taken ups].

- The remaining 8,25,000 debentures along with 1,75,925 debentures not taken up by NRIs were offered for public subscription. Additional 1,65,000 debentures were allotted to retain oversubscription.

- Rs.80 of face value of each debenture was to be converted into 2 equity shares of Rs.10 each at a premium of Rs.30 per share on the expiry of 6 months form the date of allotment of debentures.

- The remaining Rs.50 of face value of each debenture was to be redeemed on the expiry of 7th, 8th & 9th year respectively from the date of allotment of debentures on three instalments of Rs.15 & Rs.20 respectively.

- 67,36,344 No. of Equity shares allotted on conversion of 12.5% debentures [42,06,344 on conversion of fully convertible debentures & 25,30,000 shares on conversion of partly convertible debenturess].

1991 - The Comp. issued 18.5% non-convertible secured redeemable debentures aggregating Rs.100 lakhs to the Naval Group Insurance Fund on private placement basis. These debentures are redeemable in full on 31st March, 1999, at a premium of 5%.

- The Comp. issued 20% secured redeemable non-convertible debenutures aggregating Rs.300 lakhs to the financial institution on private placement basis.