BSE:511389 | NSE:VIDEOINDBZ | 58888:vind | IND:Electronics/Electricals | ISIN code:INE703A01011 | SECT:Consumer Durables
The Company History page lists out the major events in chronological order for Videocon Industries Ltd.
|Company History - Videocon Industries Ltd.|
|Videocon Leasing & Industrial Finance Limited, was incorporated on 4th September, 1986 as Adhigam Trading Private Limited. In terms of the necessary resolutions passed under Sec. 21 of the Companies Act, 1956, the name of the Company was changed to Videocon Leasing & Industrial Finance Limited on 14th February, 1991. The Company received a fresh certificate of incorporation from the Registrar of Companies, Gujarat at Ahmedabad on 14th February, 1991.|
Adhigam Trading Pvt. Ltd. (ATPL) was promoted by Mr Indrakant T. Parikh and Naishad I. Parikh in September, 1986 as a private limited company and was initially engaged in the business of trading in paper tubes. In September, 1988 the Company decided to diversify in the business of lease financing, hire purchase and investment activities.
The Management of the Company underwent a change in the year 1990-91 by way of transfer of equity shares to the Videocon Group. 1,00,000 Equity Shares of Rs. 10/- each of Adhigam Trading Private Limited were purchased by the Videocon Group at a premium of Rs. 3/- per share in April, 1991. The total consideration of Rs. 13 Lakhs was paid by cheques.
THE COMPANY & THE VIDEOCON GROUP
As detailed earlier, during the initial years the Companies in the Videocon Group had placed business with VLIF leading to growth in its lease financing activities. The group companies have increased the fund base of the Company by infusing funds in form of share capital and unsecured loans. As detailed in the Capital Structure, the promoters currently hold 75% of the paid up capital of the Company. The composition of promoters holding is Videocon International Limited 14,90,000 Shares (13.1% of VLIF's Capital), Videocon Appliances Limited 12,500 Shares (0.1% of VLIF's Capital), the Dhoot Family and their friends & associates 70,10,000 Shares (61.8% of VLIF's Capital). As detailed earlier, the post issue holding would be of the order of 25.50% of the post issue capital of Rs. 33.375 Crores (assuming that all the OCDs are converted @ Rs. 150/- per Share and Equity Shares are issued against all the outstanding warrants).
-Videocon acquires entire stake of Electrolux India on July 07, 2005
-ideocon Industries Ltd has informed that the Company has completed placement of 94,10,145 Global Depository Receipts (GDRs) at the price of US$ 10 per GDR, aggregating to US$ 94.10 million on Private Placement Basis to AB Electrolux (Publ). Each GDR represents one underlying equity share of the Company.
-Videocon takes over Hyundai Electronics
-Videocon wins exploration rights for Nigeria oil block
-Videocon Industries enters into MoU with GAIL
-Videocon Industries launches new range of washing machines
-Videocon signs pact with Oilex for NELP block bids
- Videocon Industries has bought Planet M, the music and entertainment retail arm of media house Bennett, Coleman & Co, for Rs 200 crore.
-Videocon to set up semiconductor, LCD complex near Mumbai
-BPCL arm, Videocon in agreement to acquire stake in Brazilian oil firm
-Videocon set to roll out telecom service in India
-Videocon mulls major global retail entry under `VC` brand
-Videocon Industries signed a Letter of Intent with Finnish contract manufacturing firm Elcoteq aiming at buying stake in the foreign firm where the Company makes gadgets like mobile phones and set-top boxes for companies like Sony Ericsson, Philips and Cisco.
- A Rs.1,600-crore plant for colour television sets and other electronic consumer durables will be set up by Videocon at Manamadurai in Sivaganga district.
-Videocon Industries Ltd Issues Rights in the Ratio of 2:9
- Board has recommended dividend of Re. 1/- .
- Videocon announces successful appraisal well Offshore MozambiQue.
- Videocon announces discover of old and gas in Brazil.
- Videocon Ind - Private placement of 15,750,000 Global Depository Receipts amounting to USD 51.02 million, each representing 1.
- Videocon Ind - Videocon announces New Natural Gas Discovery Offshore Mozambique.
- Videocon Ind - New Oil discovery in the deep waters of Sergipe-Alagoas Basin, Brasil.
- Videocon Ind - Videocon Announces Successful Completion of Planned Appraisal Drilling Program In The Discovery Area Offshore .
- Videocon raises $51.02 mn via private placement of GDRs.
- The Board has recommended dividend of Rs. 0.50.
-Videocon adds to the resources with successful Appraisal Well in BM-C-30, Campos Concession, Brazil and has another discovery
-Videocon confirms successful formation test with good quality of oil in Brazil
-Videocon announces New Huge Discovery Area Offshore Mozambique
-Videocon to seek shareholder approval for raising funds up to Rs 5000 cr
-Videocon Industries - Videocon announces New Huge Discovery Area Offshore
-Sanjeev Bakshi takes charge as new COO of Videocon
2015 -Videocon Industries - Videocon announces new discovery of oil accumulation in Farfan Area in the Serqipe Basin, Offshore Braz -Videocon Industries announces new oil discovery in Brazil -Videocon Industries - Videocon announces the largest discovery of petroleum -Videocon Industries - Videocon announces Sale of Spectrum for 2 Circles to Idea
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