Prestige Foods Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

YEAR EVENTS
1979 - The Company was incorporated as a Private Limited Company on 17th
August. The Company was converted into a public limited company
on 3rd October, 1985. It was promoted by N.N. Jain and is part
of the Prestige Group.

- The company originally set up a soyabean processing plant with a
rated capacity of 60 tonnes per day at Dewas, a backward area in
Madhya Pradesh. Subsequently it expanded the capacity of the
solvent extraction plant to 100 tonnes per day and added an oil
refinery of 20 tonnes per day capacity.

- 27,750 No. of equity shares subscribed for by the signatories to
the Memorandum of Association, promoters etc.

1984 - A washing soap manufacturing plant was set up.

1985 - Authorised Capital reclassified and increased. No. of equity
shares subdivided into shares of Rs. 10 each. Then 2,77,500
bonus shares of Rs.10 each issued in prop. 1:1. In January 1986,
9,00,000 No. of equity shares issued at a premiums of Rs.2 per
share of these, shares reserved and allotted were:

- (i) 1,55,000 shares to promoters, directors etc.,

- (ii) 46,000 shares to employees and

- (iii) 1,50,000 shares to non-resident Indians and persons of
Indian origin residing abroad.

- The remaining 6,50,000 shares were offered to the public during
Jan-Feb. 1986. Additional 2,25,000 shares allotted to retain
over-subscription, (38,760 shares to promoters, etc., 11,250
shares to employees, 37,500 shares to non-residents and 1,37,000
shares to the public).

- As on 31st December, the Company's fixed asset were revalued and
the net surplus amount arising out of this was credited to
revaluation reserves.

1986 - The Company had embarked on an expansion programme to raise the
capacity of the solvent extraction plant from 30,000 to 60,000
tonnes per day and of the refinery from 6,000 to 12,000 tonnes
per annum.

- In order to finance the expansion of the solvent extraction plant
to 90,000 tonnes per day and to set up winterised soya oil plant
with 50 tonnes per day capacity, the Company made during May, a
rights offer of 3,36,000-13.5% secured convertible debentures of
Rs.150 each to the existing shareholders in the ratio of 20
debentures : 100 No. of equity shares. Consent of the controller
of capital issues was also received to offer another 84,000
debentures as rights to the shareholders.

- Out of the total issue of 4,20,000 debentures only 1,46,092
debentures were taken up by shareholders. The remaining 2,73,908
debentures were allotted privately.

- Simultaneously 16,8000-13.5% secured convertible debentures were
offered to employees. Unsubscribed portion of this quota was to
be allowed to lapse. (Details of allotment not known.)

- Rs.50 of the face value of each debenture was converted into 5
equity shares of 10 each on 31st December. In terms of this,
21,00,000 shares were allotted. The remaining Rs. 100 of each
debenture will be redeemed in 3 equal instalments during the 7th,
8th and 9th year from the date of allotment of the debentures.

1987 - A soyabean processing plant with 400 tonnes per day capacity
commenced commercial production at Dewas in March.

1988 - The improved performance during the year enabled the Company to
wipe off the accumulated losses of the previous year.

1989 - A self fabricated and designed expanders was installed in its
preparator section to achieve better extraction oil from seed.

- The Company received the status of all India "Large Scale Trading
House" during the year.

1990 - The exports were expected to improve with the prevalent
favourable political atmosphere.

1991 - The Company was implementing forward integration programme by
setting up a 100 TPD vanaspati plant at Pithampur Dist.

1992 - During November, the Company issued 37,80,000 No. of equity
shares of Rs 10 each at a premium of Rs 40 per share on rights
basis in the propn. 1:1.

- Another 1,89,000 No. of equity shares of Rs 10 each at a premium
of Rs 40 per share were offered to the employees on an equitable
basis.

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