Ballarpur Industries Ltd Company History

The Company was incorporated on 26th April, at Nagpur. It

Manufactures all kinds of paper and allied products, Vanaspati,

Chemicals, Tin Containers and soaps. The Company uses the trade names,

"Three Aces" for paper and "Wisdom" for stationery.

Effective from 1st October, the name of the company was changed from

the Ballarpur Paper & Straw Board Mills, Ltd., to Ballarpur Industries

Ltd.

The caustic soda/chlorine plant was commissioned on 30th May.

Industrial licence was received for increasing the capacity of the

caustic soda/chlorine plant from 100 to 150 tonnes per day.

61,48,131.5 bonus equity shares were issued in prop. 1:1.

A letter of intent was received for establishing plants at Singach

salt works for the recovery per annum 250 tonnes of bromine/bromides,

3,000 tonnes of potassium schoenite, 1000 tonnes of potassium chloride

and 2,200 tonnes of magnesium sulphate. The plant was commissioned in

June 1983.

The Bilt Middle East (Private) Ltd. Dubai, was incorporated on 10th

March, as a joint venture in Dubai in colloboration with a prominent

organisation in the United Arab Emirates (UAE). The activities of this

company are trading in goods imported from India and elsewhere and

promotion of industries in the UAE.

A joint venture company under the name and style of Ballarpur Palm

Oil Sdn. Bhd. was incorporated in Malaysia a palm oil refining unit for

setting up of a physical refining capacity of 200 MT per day and a

fractionation capacity of 200 MT per day of palm oil at a total cost of

M $14 million. The company was to provide technical and managerial

know-how for the project.

The Company received a sum of Rs 1.05 crores on account of technical

know-how and engineering service.

The Phosphoric Acid and Sodium Tripolyphosphate plants were

commissioned on 24th April.

The Company's proposal to establish a hydro-electric station at

Dandeli with an installed capacity of about 60 MW was approved by

Karnataka Government and a No Objection Certificate was also received

from Karnataka State Electricity Board.

A sum of Rs 35 lakhs was received on account of technical know-how

and engineering services which was converted into equity in this joint

venture.

At the end of the year the Company had 4,70,387 fully paid shares of

Baht 100 each in this joint venture equivalent to about Rs 1.88 crores.

The ship renamed m.v. Thapar "Kalinadi" was used for trapping

international trading.

A sum of Rs 5,17,031 became due to the Company by way of technical

and management fees.

3,25,813 No. of equity shares issued as rights (prem. Rs 11.50 per

share; prop. 1:5) to shareholders other than Thapar Group financial

Institutions, Insurance Companies, banks and bodies corporate. 40,000

No. of equity shares issued (prem. Rs 11.50 per share) to Company's

employees. 3,64,187 No. of equity shares along with 45,081 shares not

taken by the above categories offered (prem. of Rs 11.50 per share) to

the public in January/February 1981. After June, 9,50,000 shares

allotted to financial institutions on conversion of loans (prem. Rs 10

per share). 4,090 No. of equity shares forfeited.

The Company challenged the revised rates in the High Court of Mumbai

and received the directions from the court to pay royalty at the rate

prescribed earlier.

The Company submitted an application to the Government of Maharashtra

for allotment of land near Ballarpur for captive plantations of fast

growing pulpable hardwoods.

The Company introduced 100% pure refined corn oil under the brand

name "Cornola".

The Company undertook to set up a glass container unit in Kaduna,

Nigeria. A joint venture company under the name of Ballarpur Glass

(Nigeria), Ltd. was incorporated in Nigeria.

A scheme for full scale modernisation and renovation of the paper

mills at Ballarpur and Yamunanagar was taken in hand.

The Company proposed to invest a sum of Rs 2,73,12,500 in a joint

venture Company in the Seychelles for building a resort hotel on Mahe

Island.

It was proposed to amalgamate Andhra Pradesh Rayons, Ltd. (APRL) with

the Company with effect from 1st July.

An iodised salt plant with a capacity of 15,000 tonnes per annum was

installed and commissioned.

A 12.5 MW turbo generator and a new chipper capable of handling fresh

bamboo were commissioned.

A radial well for regular water supply and a 18 MW turbo-generator

(at the Shree Gopal Unit) were commissioned in March and June 1988

respectively.

The Company commenced test marketing of refined mustard oil under the

brand name "Do Ghora" and refined sunflower oil under the brand name

"Pushapola".

The Company was placed in Receivership on 6th May. The chances of

any realisation whether on capital account or other dues were reported

to be bleak.

The joint venture company also signed an agreement with Simbian

International, a Kenyan firm of architects, experienced in the

designing and renovation of hotels and, with Bechtel Corporation, a

renowned American engineering company with substantial experience in

hotel construction, to manage the project to completion.

The joint venture company has signed another agreement with the

Intercontinental Hotel Corporation, Washington for the management and

operation of the hotel for a period of twenty years on its completion.

The Company entered into an agreement with the Andhra Pradesh

Industrial Development Corporation for setting up in the joint sector,

a Rs 32 crores rayon grade pulp unit in the Warangal district of Andhra

Pradesh, with an installed capacity of 26,250 tonnes per annum.

The paper division was adversely affected due to closure of the

Ballarpur unit for about 37 days owing to labour problems.

The Company launched "Executive Bond", a new brand of writing paper.

The company introduced a 1Kg. pouch pack under the brand name of

"Gopal".

KDB Industries Ltd. (KDB) was amalgamated with the Company with

effect from 1st July, as the High Court of Mumbai gave its approval.

As per the scheme one equity share Rs 10/- each of BILT was to be

allotted for every five equity shares of Rs 10/- each held in KDB.

J G Glass Ltd., was amalgamated with the company.

It was proposed to instal one DG set of 11 KW at Karwar unit.

Necessary approvals were obtained, to amalgamate Bengal Ingot Co.

Ltd. (BIC) with effect from 1st April. As per the scheme, one equity

share of Rs 10/- each of Ballarpur Industries Ltd. (BILT) was to be

allotted for every sixty four equity shares of Rs 10/- each held in

BIC.

BCR, Ltd. was also amalgamated with BILT with effect from 1st April.

As per the scheme, one equity shares of Rs 10/- each of BILT was to be

allotted for every twenty equity shares of Rs 10/- each held in BCR,

Ltd.

Necessary approvals were obtained, to amalgamate Jg. Glass Ltd.

(Jg), a subsidiary of the Company. As per the scheme, one equity share

of Rs 10/- each of BILT was to be allotted for every twenty equity

shares of Rs 10/- each held in Jg. Accordingly 1,45,116 shares were

allotted. Further a bonus issue of 72,558 shares were made.

In August, 69,88,132 bonus shares issued in prop. 1:1.

A pulp mill with a capacity of 250 TPD, incorporating

chlorine-di-oxide bleaching was commissioned. A new pupl mill was

proposed to be set up at the Shree Gopal Unit.

Production and sales in term of volume declined as one of the units

was partly shut down for a major re-build as a part of a modernisation

programme.

With a view to entering the packaging paper segment, the Company set

up a project at Ashti, Gadchiroli, Maharashtra for the manufacture of

35,000 tonnes per annum of extensive sack kraft.

English Indian Clays Ltd., Janpath Investments & Holding Ltd., Jg

Moulds Ltd., A G Glass Ltd., Krebs & Cie (India) Ltd., & Toscana Shoes

Ltd., are subsidiaries of the company.

A new detergent plant with an installed capacity of 30 TPA was

commissioned at Karwar, as a part of the Company's export drive.

The Mysore State Industrial Investment & Development Corporation

decided to set up a caustic soda plant of 100 tonnes per day capacity

and a fully state owned Company under the name and style of Canara

Fertilisers & Chemicals, Ltd., was incorporated for this purpose.

The Company undertook to set up a new facility with a capacity of 225

TPD for manufacture of ultra light glass bottles at Pondicherry in

South.

A letter of intent was received for manufacture of a wide range of

nitroaromatics and their derivatives. Technology sources have been

held up for the said project.

During January, the Company offered 15,00,000-14% secured redeemable

non-convertible debentures of Rs 100/- each on rights basis to the then

existing shareholders in the ratio of one debenture for 10 equity

shares and one debenture for every one preference share held. The

issue was fully subscribed and the debentures were allotted on 26th

April.

As per the terms of the issue, the debentures are redeemable in full

in five equal annual instalments of Rs 20/- each beginning at the

expiry of 5th year from the date of allotment with a provision to pay a

premium of Rs 5/- per debenture with the third instalment.

The Scheme of Amalgamation of Sewa Papers, Ltd., with the Company

w.e.f. 1st April, approved by BIFR was effected during 1991-92. As per

the scheme of amalgamation, 1 equity shares of Rs 10 each of the

company was to be allotted for every eight shares of Rs 10 each held in

SPL.

The Company arrived at an understanding with WIMCO, Ltd. and the

foreign collaborators, AB Akerlund and Rausing of Sweden to take over

for cash at par the entire shareholding of WIMCO Ltd. in AR Packaging

Systems, Ltd. Necessary approvals were awaited.

The Company entered into an understanding with Modern Stramit

(India), Ltd. to take over its straw board mill at Rajahmundry in

Andhra Pradesh. Necessary approvals were being obtained.

The Company arrived at an understanding with the State Govt. of

Orissa for the taking over of a paper unit situated at Choudwar earlier

owned by the Titagurh Paper Mills Co., Ltd.

32,603 No. of equity shares allotted without payment in cash to

members of KDB Industries Ltd., Bengal Ingot Co. Ltd. and BCR Ltd. upon

their merger.

Paper sacks under the brand name "Biltpack" were launched.

The Company's leather division undertook backward integration for

establishing a tannery as well as facilities to make full shoes soles

and lasts. All efforts were made for technical and financial

agreements with some of the top names in Europe.

The furnaces at the Pune and Rishikesh plants were rebuilt thereby

adding an energy efficient edge to bottle manufacturing operations.

Towards the end of the year the Company proposed to commission a

Rupee four crore project at Nanjangud near Mysore for the manufacture

of "Spirulina" a highly nutritious health product that has excellent

prospects both in domestic and overseas markets.

The Company undertook to set up a new factory at Palwal near Delhi to

tackle the twin problems of housing and spiralling costs of

increasingly scarce building materials. The unit is to manufacture

Aerated Autoclave Concrete (AAC), a brick substitute out of fly ash, a

pollutant waste, discharged by thermal power stations and for which no

constructive use has yet been discovered.

The Company entered into two joint ventures, one with Chemtex (USA)

to capitalise on their expertise at plant design and detailed

engineering, and the other with SDI (USA) for computer software both on

site and offshore.

Work was initiated for implementation of a project for the

manufacture of leather footwear for the export market. A wholly owned

subsidiary under the name of Toscana Shoes, Ltd. was incorporated.

Pref. shares redeemed 18,17,674 No. of equity shares allotted without

payment in cash to members of Jg. Glass Ltd. and Sewa Paper Lt. upon

their merger (2,17,674 share to Jg Glass and 16,00,000 shares to Sewa

Papers).

The captive caustic soda and chlorine plants in Ballarpur &

Yamnanagar were fully assimilated leading to savings over 15%.

Production of caustic soda declined due to power cuts, water shortage

and labour unrest for 26 days in Kaiwar Unit. Rainfal affected Singach

salt works.

The Company proposed to undertake export of industrial products and

deoiled cakes as a part of its export strategy. It proposed to

manufacture soya oil in due course, distribution network, relaunched of

corn oil and launch of sunflower oil.

The Company disposed of its ship MV Thapar Kalinadi. The Company

took up implementation of a glass container project in technical

collaboration with Owens.

During February, the Company offered 45,62,935-15% secured redeemable

partly convertible debentures of Rs 400 each on Rights basis in the

proportion 1 debenture: 5 equity shares held. All were taken up.

Additional 6,84,400 debentures allotted to retain oversubscription.

Simultaneously, another 2,28,147-15% debentures were offered to

employees/workers of the company on an equitable basis (all were taken

up).

Rs 100 of the face value of each debenture was to be converted into 1

equity share of Rs 10 each at a premium of Rs 90 per share at the end

of six months from the date of allotment of debentures.

The remaining Rs 300 of the face value of each debenture was to be

redeemed in five annual instalments of Rs 60 each commencing at the end

of the fifth year from the date of allotment of debentures.

The Company proposed to install a new pulp mill at Shreegopal to

reduce dependence on imported pulp.

The Company successfully launched refined sunflower oil under the

brand name `Prime Life'.

During April-May, the Company offered 141,52,243 rights equity shares

of Rs 10 each for cash at a premium of Rs 115 per share in the

proportion 1:2 (only 140,70,500 shares taken up). 81,743 shares were

kept in abeyance.

Another 7,07,613 No. of equity shares of Rs 10 each for cash at a

premium of Rs 115 per share were also issued to the employees' on a

equitable basis (only 16,200 shares taken up). Unsubscribed portion

was allowed to lapse.

Simultaneously the Company issued the following through a prospectus,

71,50,000 No. of equity shares of Rs 10 each for cash at a premium of

Rs 165 per share of which 10,00,000 shares were reserved for allotment

on a preferential basis to NRIs on repatriation basis (only 2,79,400

shares taken up). Unsubscribed portion of 7,20,600 shares were issued

to the public (all were taken up).

Another 2,50,000-15% cumulative redeemable preference shares of Rs

100 each for cash at par with warrants attached were reserved for

allotment on a firm basis to Modern Agencies Ltd., a group company.

Each preference share would carry 10 warrants entitling the holder

thereof to apply for 3 equity shares of Rs 10 each per warrant for cash

at a premium ofRs 140 per share at any time in one or more stages

between 3rd and 5th year from the date of allotment. These preference

shares are redeemable at par at a date not later than 5 years from the

date of allotment.

The Company introduced indigenously developed dicalcium phosphate

which received good market response. The Company proposed to set up a

plant at Khavda to produce 3000 MT of liquid bromine which was

scheduled to be commissioned in February 1996. It was also proposed to

establish a marine chemicals complex at Khavda.

The Company issued US $35 million 4% convertible bonds due to the

international investors. The bonds are convertible into Global

depository receipts (Rs. 275 per GDR representing one equity share) the

conversion period being 1st August to 1st March 1999, to be redeemed at

par on 1st April 1999.

14,219 shares of Rs 10 each allotted to shareholders of amalgamating

companies 21,000 shares previously kept in abeyance issued. 22,814

shares issued on conversion of 40, 4% Euro bonds of the face value of

US $ 2,00,000 - 4,090 forfeited shares reissued/forfeiture on then

annualised. Another 48,540 shares forfeited.

The Company increased the pulp capacity from 300 TPD to 320 TPD and

further proposed to increase to 350 TPD. A new pulp mill with a

capacity of 150 TPD was being installed at unit Shree Gopal.

The Company undertook to commission a new bromine plant with a

capacity of 3000 metric tonnes per annum as well as the Dicalcium

Phosphate plant with a view to achieving high capacity utilisation, the

company proposed to increase its captive power generation capacity.

The Company was successful in accessing new markets in Korea, Taiwan

and it was proposed to develop in house facilities for production of

several bromine derivalues for the international market.

The Company set up the power division to meet 100% of its

requirements. The company negotiated for awarding contract with

respect to Barsinagar Lignite Mining-cum-Power project in Rajasthan &

Khaparkheda, Thermal Power Project in Maharashtra.

197 foreign currency convertible Bonds were converted into GDRs

equitable to 1,12,360 shares which were allotted to the Depository i.e.

Citibank N.A., New York.

The Company placed 37.5 lakhs Redeemable Non-Convertible Cumulative

Preference shares of Rs 100 each, bearing a Dividend at the rate of

13%. These shares are redeemable on 18 months from the date of

allotment.

The Company proposed to set up a plant at Visakhapatnam in Andhra

Pradesh for the manufacture of 10,000 TPA of Aniline alongwith

mononitro benzene, sulphuric acid and hydrogen for captive consumption.

Technical collaborations were also approved for manufacture of

Aniline with Rhone Poulenc of France, for Nitrobenzene with J.

Meissner of West Germany and for basic engineering and pollution

control equipment with Specichim of France.

The Company proposed to hive off the spirulina business at Nanjangud

to a separate company `Reitzel India Ltd.'.

The Company undertook to set up a kenaf - based pulp project in

Thailand with technical know-how from the Company. The capacity to be

installed was 70,000 tonnes per annum.

Out of the total equity share capital of Baht 400 million, the

Company's share was to be 29.37% or Baht 117.50 million (Rs. 4.70

crores) which was to be contributed by export of machinery and

equipment worth Baht 82.50 million and by capitalisation of technical

and engineering fees amounting to Baht 35 million.

100,000,000 No. of equity shares of Rs 10 each issued (prem. Rs 80

per share) and 39,63,500 redeemable pref. shares issued to Murjah

Trading and Industrial Co. Ltd. Soudi Arabia.

The company lacked the necessary technology and was dependent upon

its collaborators.

Thapar Power Group, an arm of the leading Ballarpur Industries, which

entered into an agreement five year ago with the Himachal Pradesh

Government to generate electricity through its Uhl-3 hydro power

project.

Phoenix Pulp and Paper Company (PPPC) is a joint venture between

European Overseas Development Corporation (EODC) and Ballarpur

Industries Limited (BILT) with the latter holding around 13 per cent in

PPPC.

The company set up a bromine capacity to derive the benefits from the

brine left over after the extraction of caustic soda.

Owens Illinois Ltd. and Ballarpur Industries Ltd. (Bilt) have settled

at a price of Rs 11.80 per share for the sale of Bilt's 49 per cent

equity stake in their joint venture Owens-Bilt Ltd.

Ballarpur Industries which had a glass division in its fold until

1994 had hived it off in the ear to form Owens-Bilt in collaboration

with the US company.

The joint venture BILT-Owens was in the "non-core" business of glass.

Ballarpur Industries Ltd., (Bilt), the flagship company of the L M

Thapar Group, is all set to divest minority stake in its 100 per cent

subsidiary, The Golden Green Company.

Bilt had set up the division in 1992 at a capital investment of Rs 47

cr to manufacture construction materials like blocks, pre-cast

reinforced slabs and wall panels.

The AAC division is now part of the recently set up BILT Chemicals.

Ballarpur Industries Ltd. (BILT) is exploring the possibility of

collaboration with Swedish company `Tumba Bruk' for manufacturing

papers used in paring of currency notes.

DBIL is a 50:50 joint venture between the Delhi-based DCM Ltd. and

Benetton International NV of Netherlands (a subsidiary of Benetton

Group SpA of Italy).

BILT has entered into technical agreements with a South Korean and a

Japanese company for manufacturing coated and lightweight coated paper.

Duff & Phelps Credit Rating India (DCR) has assinged a D1 (very high

certainty of timely payment) rating to the Rs 15 crore shortterm debt

programme of Ballarpur Industries.

The Company will be allotting three equity shares of Rs 10 each to

the shareholders of APR for every 10 equity shares of Rs 10 each of APR

held by them.

The Board of Ballarpur Industries is being expanded from 12 to 15.

Mr. Narottam Sahgal has resigned from the Directorship of the company

w.e.f. 15th September.

Crisil has assigned `AA+' (SO) (structured obligation) to the Rs

150-crore structured debt obligation issue of the company.

The Company has signed a memorandum of understanding with Sinar MAS

India for acquiring equity stake in the company.

The Company has appointed Mr Gautam Thapar, Managing Director, as hte

Vice-Chairman and Managing Director of the company.

The board of directors of Ballarpur Industries Ltd (BILT) on

September 17th, accorded its in-principle approval for the acquisition

of the entire equity capital of BILT Graphic Paper Ltd (BGPL), formerly

Sinar Mas Pulp & Paper India.

Ballarpur Industries Ltd (Bilt), is in negotiations to sell off its

stake of over 60 per cent in its Malaysian subsidiary, Jg Containers

(Malaysia) Sdn Bhd. The company is talking to its local joint venture

partner to offload the stake. Jg Containers makes glass containers.

Ballarpur Industries Ltd (Bilt) will shortly finalise an equity

issue, which has received the board's in-principle approval.

The Board of Directors of Ballarpur Industries Ltd has noted the

change in nomination by Unit Trust of India on the Board of Directors

of the company. Mr R K Ahooja has been nominated by UTI on the Board of

Directors of the company in place of Mr K G Vassal.

The Board of Directors of Ballarpur Industries has changed the designation of R R Vederah, a Wholetime Director, from Director & COO to Deputy Managing Director with immediate effect.

R R Vederah designated as Deputy M D of BILT.

The board of BILT has approved the proposal to divest the investments of Janpath Investments and Holding Ltd.

BIT announced that its Board members have approved for acquisition of 38% equity

capital of APR Packaging Ltd.

BILT counter is recording a heavy trade in stock market and the players in the market

are keen on buying the company stock.

The Boardhas areeded upon issuance of Global Depositary Receipts aggregating upto USD 35 million (equivalent to approx. Rs 1600 million) in the international market .

Company's Global Depository Shares (GDS) issue of USD 35 million (each GDS representing five equity shares of Rs 10/- each) has been priced at USD 8.27 per GDS which equates to Rs 74.96 per equity share. The issue was oversubscribed.

Starlight International Holdings Ltd. acquires 10,000,000 shares of Ballarpur Industries Ltd. amounting to 6.16% of total capital of the company

Ballarpur Industries Ltd has informed that at the meeting of Committee of Directors held on January 15, 2004 the Directors have approved allotment of 92775 equity shares of Rs 10/- each of the Company.

These shares have been allotted on the conversion of 17592 9.5% Fully Convertible Debentures (FCDs) of Rs 304/- each which were allotted by the Company on rights basis in the year 2002.

Bilt Paper Holdings Limited (BPHL), one of the promoters of the company, has acquired 8,10,026 equity shares of Rs.10/- each of the company, constituting 0.49% of the equity capital. These shares have been acquired from M/s Greaves Leasing Finance Limited inline with the SEBI order for implementation of the Family Settlement Agreement executed between the Thapar Brothers.

ITC Ltd.completed the process of acquiring the paperboard manufacturing facility of BILT Industrial Packaging Co Ltd. (Bipco) near Coimbatore in Tamil Nadu. The facility, renamed 'unit Kovai', will operate as part of the paperboards and specialty papers division of ITC, which has a unit at Bhadrachalam in Andhra Pradesh.

BILT enters tissue paper business

Ballarpur Industries bags TERI award

Ballarpur Inds to launch $60mn FCCBs

Ballarpur Industries enters into conditional agreement for acquisition of equity of SFI

Ballarpur Ind takes over Malaysian co for $261mn

Ballarpur Industries Board recommended final dividend of 15%

Appointment of Dr. Pramath Raj Sinha, as an Additional Director of the Company

Ballarpur Industries Board recommended Dividend of 25%

Mr. Shardul S. Shroff was appointed as an independent director on the Board of the Company

Ballarpur Industries Ltd. (BILT) has appointed the lead managers for listing of its Dutch unit.

Ballarpur Inds - Board recommended Dividend of 25% i.e rs 0.50

Ballarpur Inds - Proposed acquisition of entire paid-up capital of PTIL

BallarprInds - Acquisition of entire paid-up capital of PTIL

BallarprInds - Board recommended Dividend of Rs. 0.60 i.e (30% )

BallarprInds - Board recommended Dividend of Rs 0.50 i.e (25%)

Ballarpur Industries Ltd has ecommended payment of dividend of 15% on the equity shares.

Ballarpur Industries Ltd has recommended payment of dividend of 10% on the equity shares.

Ballarpur Ind gets revival package from Telengana govt

Ballarpur Industries Ltd raised working capital limits of INR500 million in January 2017, due to which capacity utilisation has improved at its existing facilities.

2018

Ballarpur Industries Limited has informed that the Sale and Purchase Agreement has been entered into between Receiver & Manager of Sabah Forest Industries Sdn.

company announce Bonus Equity Shares in the proportion of 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share of Rs. 10/- each,