BSE:500425 | NSE:AMBUJACEMEQ | 58888:gacl | IND:Cement - Pan India | ISIN code:INE079A01024 | SECT:Cement
The Company History page lists out the major events in chronological order for Ambuja Cements Ltd.
|Company History - Ambuja Cements Ltd.|
|Ambuja Cements Ltd. (ACL) is one of the leading cement manufacturing companies in India and commenced cement production in 1986. Initially called Gujarat Ambuja Cements Ltd, the Company later became Ambuja Cements Ltd. In 2006, global cement major Holcim, acquired management control of the Company. Today, Holcim holds a little over 50% equity in ACL. |
ACL has grown manifold over the past decade. Its current cement capacity is 27.25 million tonnes. The Company has 5 integrated cement manufacturing plants and 8 cement grinding units across the country. ACL enjoys a reputation of being one of the most efficient cement manufacturers in the world. Its environment protection measures are considered to be on par with the finest in the country. It is also one of the most profitable and innovative cement companies in India.
ACL is the first Indian cement manufacturer to build a captive port with three terminals along the country's western coastline to facilitate timely, cost effective and environmentally cleaner shipments of bulk cement to its customers. The Company has its own fleet of ships. ACL has also pioneered the development of the multiple, bio-mass, co-fired technology for generating greener power in its captive plants.
- The Company was Incorporated on 20th October, as Ambuja Cements Pvt. Ltd. It was jointly promoted by Gujarat Industrial Investment Corporation Ltd. (GIIC) and N.S. Sekhsaria and his associates, Vinod K. Neotia and Suresh Mulani, for setting up a cement project in the joint
sector. The Company was converted into a public limited company on 19th March, 1983 and its name was changed to Gujarat Ambuja Cements, Ltd., on 19th May, 1983.
- The Company's object is to manufacture cement.
- The Company adopted the latest dry process precalcination technology incorporating five stage preheater for the main pyro processing system of the cement plant. For grinding the raw material, the Company undertook to instal the latest air swept roller mills of polysius design which were extremely energy efficient.
- A computerised process control system with field instruments supplied by Larsen & Tourbo was also being installed to give consistently high quality cement with maximum productivity.
- In addition, electronic packing machines were being obtained from Haver & Boecker, West Germany, and reverse air baghouse equipment from Zurn Industries, USA.
- The company entered into an agreement with Krupp Polysius AG, (KP) West Germany, for supply of plant, equipment and service for the project, KP agreed to supply raw material and coal grinding vertical roller mills, homogenising and kiln feed, burning, cooling and coal
firing equipment and pneumatic transport pumps.
- KP have a collaboration agreement with Buckau Wolf India, Ltd. who are supplying the balance items of the main plant as per KP design. The scope of the agreement with KP provides for complete engineering of the plant, technical documentation and information and supervision of erection and commissioning of the project.
- All shares subscribed for by signatories to the Memorandum of Association, promoters, etc.
- A letter of intent was received to increase the installed capacity from 7,00,000 tonnes to 14,00,000 tonnes per annum.
- 146,44,500 No. of equity shares issued at par out of which the following shares were reserved for firm allotment: 38,24,448 shares to GIIC; 21,20,000 shares to overseas companies of non-resident Indian promoters on repatriation basis and 15,50,052 shares to N.S. Sekhsaria,
Vinod K. Neotia and their associates.
- Out of the balance 71,50,000 shares, 28,60,000 shares to non-resident Indians with repatriation rights and 8,75,500 shares to employees (including Indian working directors)/workers and business associates of the Company were reserved for preferential allotment. The remaining
34,14,500 shares were offered for public subscription during November. Out of the oversubscription, 33,50,000 shares were retained and allotted to the public.
- 20,00,000 No. of equity shares issued at par of which 2,00,000 shares allotted to private promoters and their associates and the balance of 18,00,000 shares offered and allotted to the equity shareholders as rights in prop. 1:1.
- Production declined marginally to 8,02,301 tonnes due to heavy rains in July-August 1989 coupled with flash floods on 16th July.
- The 12.6 MW diesel generating sets which were imported during 1988-89 were commissioned during the year.
- Necessary approvals were received for setting up another cement plant with 1 million tonne capacity per annum at village Suli, Tehsil Arki, District Solan of Himachal Pradesh.
- In order to meet long-term working capital requirements, the Company issued 10,00,000 - 17.5% secured redeemable non-convertible debentures on private placement basis. These debentures would be redeemed in three equal annual instalments commencing at the end of the 6th year from the date of issue of the debentures, at a prem. of 5% of the face value of the debentures.
- In order to part finance its expansion projects, the Company proposed to issue 52,62,500 No. of equity shares of Rs.10 each at a prem. of Rs.190 per share. Out of the total issue, 50,00,000 shares were to be offered to the existing equity shareholders of the Company as rights in
the prop. of 1:4 and the balance of 2,62,500 shares were to be offered to the employees, directors and the business associates of the company.
- In order to part finance its expansion projects, the Company also proposed to issue 52,62,500 - 17.5% secured redeemable non-convertible debentures aggregating to Rs.210.50 crores. Out of the total issue, 50,00,000 debentures were to be offered to the equity shareholders of the Company on rights basis in the prop. of 1 debenture for every 4 equity shares held and the balance of 2,62,500 debentures were to be offered to the employees, directors and business associates of the Company.
- Each non-convertible debenture would be attached with a detachable warrant and the holder of one such warrant would be entitled to apply for and be allotted one equity share of the Company at a price of Rs.300 per equity share (Rs.10 towards face value and Rs.290 as prem.).
- The warrant holders at the time of exercising their right/option to subscribe for their equity shares entitlement would have further option either to pay a price of Rs.300 per share of the Company or to surrender the equivalent number of debentures as subscription for
allotment of equity shares.
- GACL Finance Ltd., Concrete Investments, Ltd., and Indo Nippon Special Cements, Ltd. are the subsidiaries of the company.
- The Company undertook bulk cement transportation, by sea, to the major markets of Mumbai, Surat and other deficit zones on the West Coast. Transportation was to be carried out by three specially designed ships. The units bulk terminal at Kodinar and one at New Mumbai was completed and work on the third terminal near Surat began.
- 51,60,165 rights equity shares allotted at a prem. of Rs.190 per share (49,66,815 shares, prop. 1:4; 90,850 shares to employees and 1,02,500 shares to Associates); 1,10,281 shares of Rs.10 each allotted at a prem. of Rs.215 per share on exercise of warrants by warrant
- The Company's muller location 1.5 million tonne cement project with clinkeriation facility at site in H.P and grinding facility both at Suli & Ropar in Punjab was commissioned. Land was acquired at Sahranpur to serve as another site for grinding cement.
- The Company also undertook to set up a new unit, `Gajambuja Cement' with an installed capacity of 9.4 lakh tonnes, at the existing premises. The kiln was fired on 1st March 1993 and the unit produced its first batch of clinker on 4th March, 1993.
- The Company undertook to set up the third 1 million tonne cement plant at Ambujanagar. Orders for plant and machinery were placed and the plant was expected to be commissioned by December 1996. This will increase the company's total cement capacity to 4.5 million tonnes.
- 45,65,044 shares allotted on conversion of warrants. 12,21,994 allotted on conversion of aurobonds. 375 rights shares kept in abeyance allotted. 3,02,19,749 bonus shares issued in prop. 1:1 10,00,000 shares allotted to IFC Washington. 4,404 rights shares kept in abeyance allotted.
- The Company proposed to install one more cement mill at Himachal plant.
- 11,251,829 shares allotted on optional conversion of FCCBs. 7,724 Rights shares kept in abeyance allotted. 7,350 shares allotted on conversion of tradeable warrants.
- Two more ships `Ambuja Keerti' and `Ambuja Shakti' were added to the Fleet. The Company has submitted a proposal to revive Modi Cements Ltd. to IDBI during the year.
- Another 19724 No. of equity shares allotted on conversion of warrants.
- 100,000,000-10% non-convertible redeemable pref. shares of Rs. 10 each allotted and 30,000,000-12.75% non-convertible redeemable pref. shares of Rs. 10 each redeemed.
- Gujarat Ambuja Cements Ltd's (GACL) Kodinar plant is set to commence commercial production with an enhanced capacity by mid-April.
- Gujarat Ambuja Cement Ltd. has offered to set up a multi-crore cement plant in Jammu and Kashmir.
- Gujarat Ambuja Cement Ltd. (GACL) was set up in 1981 as a joint sector company, promoted by Narottam Sekhsaria and Gujarat Industrial Investment Company (GIIC). Its cement plant which was commissioned in 1985 was set up in technical collaboration with Krupp Polysius,
Germany, Bakau Wolf and Fuller KCP.
- Gujarat Ambuja Cement Ltd. (GACL) is setting up two new units with a capacity of 1.5 m.t. each through its subsidiaries.
- The company has signed a memorandum of understanding (MoU), with the promoters of Modi Cement to take control of the sick company and has prepared a revival proposal to be submitted to the Board for Industrial and Financial Reconstruction (BIFR).
- Gujarat Ambuja Cements to set up a $20 million clinker Grinding unit in Sri Lanka.
- Gujarat Ambuja is proposing to set up a greenfield cement plant with a six million tonne capacity in phases in Andhra Pradesh.
- Gujarat Ambuja is setting up a 0.50 MT bulk terminal and a packaging facility at Tuticorin for Rs 16 crore to increase its presence in the south, especially Tamil Nadu.
- Maratha Cements Ltd, a wholly-owned subsidiary of Gujarat Ambuja Cements is to be amalgamated with the latter.
- The company has proposed a bonus shares in the ratio of 1:1.
- Cement giants Larsen & Tubro (L&T) and Gujarat Ambuja Cements have entered a unique agreement to reduce transportation costs in despatching bulk cement in Gujarat.
- The Company has entered the fray for setting up a slag cement unit near the integrated steel complex of Jindal Vijayanagar Steel Ltd. in Karnataka.
- The Company has entered into a contract with a Soinhalese firm, Mahaveli Marine Cement, to supply around 2.5 lakh tonnes of cement annually.
- Eastern Ambuja Cement, a 92-per cent subsidiary of Gujarat Ambuja Cement, is in talks with Orissa-based Shiva Cement for a possible joint venture.
- The Company has kickstarted its operations in Sri Lanka with the setting up of a cement terminal in the port of Galle, in the south of the island country.
- Ambuja Cement Eastern, a subsidiary of Gujarat Ambuja Cements is making a preferential allotment of equity to its promoters to mop up Rs 30 crore to part-finance its Rs 130-crore expansion project.
- ICRA has downgraded the non-convertible debenture (NCD) programmes of the company.
- Fitch India has assigned a rating of Ind AAA to the Rs 50 crore NCD programme of the company.
- The Company has completed the issue of FCCBs of about $100 million issued in the international markets.
- Gujarat Ambuja Cements Ltd., the fourth largest cement maker in the country, has closed its issue of secured non-convertible debentures after raising the targeted Rs 200 crore.
- Gujarat Ambuja Cements Ltd is planning to issue fresh equity shares on a prefrential basis to non-promoter groups.
- Gujarat Ambuja Cements Ltd (GACL) has received Rs 200 crore from foreign equity investor, Warburg Pincus, as part of its proposed Rs 360-crore investment in the form of equity shares and convertible ants.
- The company will buyback shares worth Rs 50 crore at a maximum share price of Rs 170 per share through the open market route, it said. Gujarat Ambuja Cements has clocked a 112 per cent rise in net profit at Rs 53.23 crore during the first quarter of the financial year 2001-02.
-Commercial production commences at Gujarat Ambuja Cements Maratha Cement Works plant
-Board approves merger of Ambuja Cement Rajasthan with the company
-Mops up Rs 50 cr by issuing non Convertible Debentures (NCD)
-Allots 80 lacs warrants to Affinity Investments, an Affiliate of Warburg Pincus Equity Partners L.P
-Securities Appellate Tribunal (SAT) directs Sebi to examine Guj Ambuja deal for ACC stake
-SEBI finds no violation of Regulation 12 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 1997 by Gujarat Ambuja Cements Ltd. with regard to the ACC deal
-Raises $80 million through External Commercial Borrowings (ECB)
-BIFR sanctions the rehabilitation scheme for merger of Ambuja Cement Rajasthan with Gujarat Ambuja Cements Ltd.
-Gujarat Ambuja Cements Ltd has informed that Shri NP Ghuwalewala has been appointed as the Wholetime Director of the Company at the Board meeting held today on June 28, 2004
- Gujarat Ambuja Cement Ltd - Issue of Bonus shares
- Gujarat Ambuja gives Rs 25 lakh aid for quake victims
-Ambuja Cements has given the Bonus in the Ratio of 1:2
-Company has splits its Face value of Shares from Rs 10 to Rs 2
- Holcim raises stake in Gujarat Ambuja Cements
- Gujarat Ambuja - Change in Accounting Year
- Company name has been changed from Gujarat Ambuja Cements Ltd to Ambuja Cements Ltd.
- Ambuja Cements Ltd has appointed Mr. Naresh Chandra as an additional director.
- The Company launched its knowledge initiative i.e. Ambuja Knowledge Center,to enable industry professionals get a first-hand feel of the world of cement and concrete. During the year, three centers became operational in the cities of Jaipur, Ahmedabad and Kolkata.
-Ambuja Cements - Grant of Stock Option under ESOS
- On 24th February 2010, Ambuja Cements Ltd (ACL) inaugurated its cement plant (grinding unit) at Dadri, Uttar Pradesh. Capacity: 1.5 million tonnes.
- On 27 March, 2010, Ambuja Cements Ltd (ACL) inaugurated its cement plant (grinding unit) at Nalagarh, Himachal Pradesh. Capacity: 1.5 million tonnes.
- In December 2010, the Dadri Grinding Unit in its very first year of operation received the Integrated Management System (IMS) Certification, including ISO 9001:2008, ISO 14001:2004, and OHSAS 18001:2007 by BSI (U.K.).
-Completes 25 years of operation. Celebrates silver jubilee at all integrated plants.
- Achieves water-positive status, as certified by an independent foundation, Det Norske Veritas. Ambuja Cements gives back to the community double the amount of water the Company consumes at its facilities.
- Ambuja Cements Ltd has acquired 85% equity shares of Dang Cement Industries Pvt. Ltd., Nepal
- Ambuja Cements Ltd has acquired 60% equity shares from the existing promoters of Dirk India Pvt. Ltd.
- Ambuja Cements announces Allotment of Shares under ESOS category.
- Ambuja presented 2 awards at the CII Sustainability Awards 2012 by Honorable President of India.
- Ambuja Cements Limited’s (ACL) integrated plant unit at Chandrapur, (Maharashtra), the Maratha Cement Works (MCW) bagged the gold award for the best safety systems under the Large size category of the FICCI Safety Excellence System Awards 2012
-Ambuja Cement bagged the Asia's Most Promising Brand & Leader Award at the Asian Brand and Leadership Summit 2013
-ACL Rabriyawas was awarded "Energy Efficient Unit" during the 14th National Award for Excellencein Energy Management 2013
-Ambuja Cements has unanimously approved a proposal to first acquire a 24% stake Holcim
-Ambuja Cement Foundation - Chirawa has won the UNESCO supported Water Digest Water Award 2013-14
-Ambuja Cement Foundation - Bathinda won the NABARD 'Partnership Excellence Award' in the category of "Improving productivity of crops"
-Ambuja launched a premium quality cement product, AMBUJA PLUS in the state of Rajasthan.
-Ambuja launches AMBUJA PLUS in Gujarat
-Ambuja Cement has launched a new TV campaign after four years, focusing on social awareness.
-Ambuja Cement created another benchmark among cement industries in India, it obtained a whopping 4.03 times water positive factor
-Ambuja Cement won FICCI CSR award 2016 under 'Category 5 - Any Other' for its exemplary Water Resource Management Program
-Ambuja Cement conferred with the Bombay Chamber Civic Award for social development
-Ambuja Cement & ACC win prestigious accolades at CII-ITC Sustainability Awards 2016
- Ambuja notches up a perfect score bags six prestigious accolades @ CII-ITC Sustainability Awards 2017
- Ambuja Cement wins two prestigious awards at NCB International seminar
- Ambuja Cement launches ‘Ambuja Plus Cool Walls’ in Surat
- ‘Ambuja Plus Cool Walls’ launched in Punjab
- Ambuja Manovikas Kendra bags ‘Overall Championship Trophy’ at Punjab State Special Olympic Games
- Ambuja Cement wins CII National Award for Excellence in Water Management
- Ambuja Cement bags Yes Bank’s prestigious Natural Capital Award 2017
- Ambuja Compocem launched a superior composite cement product for better sustainability a first in the Indian cement industry
- Ambuja Cement a key partner in India’s longest highway tunnel in Jammu & Kashmir
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