Western Ministil Ltd. Company History and Annual Growth Details

YEAR EVENTS
1972 - The Company was Incorporated on 3rd August, in Maharashtra as a
private limited company and converted into a public limited
company on 17th January, 1973.

- The Company's object is to manufacture steel ingots from scrap
and other steel items. The Company was promoted by Western
Rolling Mills Private Ltd.

- Mukand Iron & Steel Works, Ltd. agreed to give to the company
technical assistance for the manufacture of steel ingots and
other semi finished products.

- 1,60,000 shares taken up by promoters, directors, etc. and
2,40,000 shares offered at par to the public in Feb. 1973.

1981 - Forfeiture on 50 shares annulled.

1984 - Profits declined marginally due to lower sales realisation in the
first quarter of the year and higher input costs.

1985 - 2,00,000 rights shares issued at par in prop. 1:2.

1987 - Chudiwala Steels, Ltd. Pondicherry, became a subsidiary of the
Company.

1988 - The name of the subsidiary was changed to East Coast Steel Ltd.

- 6,00,000 rights shares issued (prem. Rs.10 per share; prop. 1:1)
Additional 90,000 shares allotted to retain oversubscription.
Another 4,500 shares allotted to employees. (prem. Rs.10 per
share).

1992 - During May-June, the company issued 7,19,165-15% fully
convertible debentures of Rs.55 each at par to the shareholders
on rights basis in the ratio of 5 debentures : 9 No. of equity
shares held. Additional 1,07,721 debentures allotted to retain
oversubscription.

- Another 35,835 - 15% fully convertible debentures were issued to
the employees of the company, (only 300 debentures taken up).
Unsubscribed portion of 35,500 debentures out of the employees
quota of 35,535 debentures was allotted to Indbank Mutual Fund,
35 debentures remain unsubscribed.

- The entire face value of Rs.55 of each debentures was to be
converted into one equity share of Rs.10 each at a prem. of Rs.45
per share on the expiry of 6 months from the date of allotment of
debentures i.e., on 2nd February 1993.

2008

-Western Ministil has designated E-mail ID for Investors Complaints: [email protected]

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