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Rain Industries History
BSE:500339 | NSE:RAINEQ | IND:Chemicals - Speciality - Others | ISIN code:INE855B01025 | SECT:Chemicals
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The Company History page lists out the major events in chronological order for Rain Industries Ltd.
| Company History - Rain Industries Ltd. | ||
| YEAR EVENTS 1974 - The Company was Incorporated on 15th March, under the name Tadpatri Cements, Ltd. and the Certificate of Commencement of Business was obtained on 10th April. - The Company was promoted by D.G.K. Murthy, a technocrat, S. Veera Reddy, N. Radhakrishna Reddy, P. Pratap Reddy, an industrialist, their friends, relatives and associates. Andhra Pradesh Industrial Development Corporation, Ltd. (APIDC) was also associated with the promotion of the Company. - The Company's object is to manufacture portland cement. 1984 - The name of the Company was changed to Priyadarshini Cement, Ltd. on 4th May. - The Company obtained mining lease from the Government of Andhra Pradesh initially for a period of 20 years from 19th October, for ming of limestone over an area of 430 acres in village Revuru in Nalgonda district of Andhra Pradesh. 1985 - 1,18,000 No. of equity shares subscribed for by the signatories to the Memorandum of Association, promoters, directors etc. 1,63,82,000 No. of equity shares then issued at par out of which 44,94,500 shares to promoters, directors etc. and 12,37,500 shares to APIDC were reserved and allotted. Out of the remaining 1,06,50,000 shares, 40,00,000 shares were reserved for preferential allotment to non-resident Indians on repatriation basis (only 20,26,900 shares taken up). - The balance 66,50,000 shares, alongwith the unsubscribed portion of 19,73,100 shares out of the NRI quota, were offered for public subscription during November. 16,50,000 additional shares were also allotted to the public to retain oversubscription. 1986 - The Company incurred a loss due to shortage of power which resulted in under-utilisation of installed capacity. 1987 - The Company undertook to instal a 5MW diesel generating set which was expected to be commissioned from January 1989. 1988 - Margins were under pressure due to hike in input costs and increase in freight charges. 1990 - The Company came under the provision of the Sick Industrial Companies (Sp. Provisions) Act 1985 and as per the requirement a reference to the BIFR was made. 1991 - There was no commensurate improvement in profits due to higher cost of inputs. - The Company had submitted a scheme in consultation with the financial institutions and banks. - Forfeiture on 12,200 shares annulled. 20,25,650 shares allotted to promoters, directors etc. on conversion of unsecured loans. 1992 - Margins were affected due to unrecovered increase in costs and sluggish market conditions. - In April, BIFR accepted the Sick Industrial Companies (Sp. Provisions) Act 1985, scheme and passed an order under Section 17(2) of the Act. - 4,200 No. of equity shares allotted or forfeiture on 4,200 shares annulled. 1994 - Forfeiture on 3100 shares annulled. 1995 - 330,500 shares allotted. 17,50,000 shares allotted to promoters on conversion of loan as per BIFR order. 2000 - Priyadarshini Cements has proposed to acquire Hemadri Cements, nearly year after taking over a cement unit from Nagarjuna Construction Company. 2003 - CDR Empowered Committee gives its approval for the Corporate Debt Restructuring (CDR) package -Mr N Jagan Mohan Reddy, Director has been appointed as Managing Director of the Company and has taken over the charge w.e.f. November 14, 2003. 2007 -Rain Commodities Ltd on August 18, 2007 has approved the change in financial year of the Company, accordingly the Current Financial year shall be from April 01, 2007 to December 31, 2007 (9 months) and subsequent financial years shall be from January to December (12 Months). 2008 -Rain Commodities Ltd has informed that Industrial Development Bank of India Ltd has nominated Mr. R S Vidyasagar as its Nominee Director on the Board of the Company with effect from March 14, 2008. 2009 - "Rain commissions Oxygen-Lancing Technology; Proprietary process to result in substantial cost savings". - Fitch Ratings has assigned a national long term rating of "A-(ind)" to the Company, with a Stable Outlook. 2011 - Rain Commodities Ltd has informed BSE that the Company has acquired Birla Cement and Industries Ltd. from Yash Birla Group. -Company has splits its Face value of Shares from Rs 10 to Rs 2 2012 - The Company has incorporated a wholly owned subsidiary namely 'RAIN COKE LIMITED'. Rain Coke Limited will carry on the business of manufacture and sale of Calcined Petroleum Coke and other Carbon products. 2013 -Rain Commodities Acquisition of RUTGERS N.V., Belgium by Rain CII Carbon LLC, US -Rain Commodities has recommends Dividend of Rs.1.10 per equity share (i.e., 55% on a face value of Rs.2/- per equity share fully paid up) -Rain Commodities Ltd has informed that the name of the Company is changed from Rain Commodities Ltd. to Rain Industries Ltd. 2014 -The equity shares of RCI Industries & Technologies Ltd (Scrip Code: 537254) are listed and admitted to dealings on the Exchange in the list of MT Group Securities. | ||
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Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
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