Saka Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

YEAR EVENTS
1981 - The Company was Incorporated on 25th November, as Saka
Electronics (Pvt.) Ltd. and was converted into a public limited
company on 9th May, 1989.

- The Company was promoted by L.G. Mirchandani and his sons Gulu
L. Mirchandani and Sonu L. Mirchandani.

- The Company's units for manufacture of CTVs and B & W TVs are
situated on a 2,310 sq. yards of leasehold land at GA-1, B-1
Extn., Mohan Cooperative Industrial Estate, Badarpur with a
capacity of 20,000 npa of tape recorders/music compact systems
and the other on a 4,864 sq. mtrs of leasehold land at Pithampur
Dhar Dt. (MP) with a capacity of 6,000 p.a. of B & W TVs.
Another 8,100 sq. mtrs. of land was acquired at NOIDA, Dist.
Ghaziabad for the setting up of additional manufacturing
facilities.

- The Company's object is to manufacture Colour Television sets
(TVs), Black & White Television sets (B & Ws), audio tape
recorders/music compact systems.

1989 - 2,10,450 No. of equity shares taken up by promoters, directors,
etc. 24,00,000 No. of equity shares of Rs.10 each then issued at
par of which 18,00,000 shares were reserved and allotted on a
firm basis to promoters, directors etc. Of the remaining
6,00,000 shares, 1,20,000 shares reserved for allotment on a
pref. basis to employees (including Indian working
directors/workers of the Company and of promoter companies) (only
71,100 shares taken up). The balance 4,80,000 shares, along with
48,900 shares not taken up by employees, were offered to public
subscription during June 1990. (all were taken up).

1990 - The Company launched air conditioners under the brand name
"ONIDA" in April.

- During June, along with the equity issue, the company issued
through a prospectus 1,80,000 - 14% secured redeemable partly
convertible debentures of Rs.200 each of which, the following
were reserved for allotment on pref. basis:

- (i) 23,000 debentures to ICICI/Canbank mutual fund/Government
financial institutions (all were taken up);

- (ii) 9,000 debentures to employees (including Indian working
directors)/workers of the Company and of promoter companies (only
1,060 debentures taken up) and 18,000 debentures to the
shareholders of the Company (all were taken up).

- The remaining 1,30,000 debentures along with 7,940 debentures not
taken up by employees were issued to the public (all were taken
up).

- Part A of Rs.100 of the face value of each debenture was to be
automatically and compulsorily converted into 10 No. of equity
shares of Rs.10 each on the date of allotment of debentures.
Accordingly 18,00,000 No. of equity shares were allotted. The
remaining part B amounting to Rs.100 was to be redeemed at par in
three consecutive annual instalments of Rs.35, Rs.30 and Rs.35
each commencing from the expiry of the 6th year from the date of
allotment.

1992 - The margins remained under pressure due to steep increase in the
prices of raw materials on account of rupee devaluation.

- The Company introduced a contemporary 17" B & W television set
with several advanced features.

- 44,10,450 rights equity shares issued at par in prop. 1:1 during
April. Additional 6,61,567 No. of equity shares allotted to
retain oversubscription. 2,20,523 No. of equity shares offered
at par to the employees. (Only 1,94,300 shares taken up). The
unsubscribed 26,223 No. of equity shares of the employees quota
allowed to lapse.

1993 - The Company introduced a B & W Television with Electronic Tuner
and Remote control in 14", 17", 20" segments as also the economy
model.

- The Company undertook a project for expansion of its audio tape
recorder/musical compact system divisions facilities from 20,000
npa to 1,00,000 npa at Badarpur/Noida. Also, it was proposed to
import moulds for its CTV/B & W division. A major portion of the
plant and machinery such as axial component insertion machine,
auto in circuit component tester and wave soldering machine and
moulds and dies were to be imported from Dynapet, Nessei and JVC
respectively, all from Japan.

2012
-Company has changed its name from Onida Saka Ltd. to Saka Ltd.

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