YEAR EVENTS 1985 - The Company was incorporated as a private limited company in 1980. It was converted into a public limited company on 25th September. The company has a well equipped manufacturing facility at Ludhiana in Punjab. The company undertook to set up another factory at NOIDA, about 20 kms. from Delhi to meet the increasing demand for its products. Commercial production commenced on 1st November, 1986. - Effective from 10th April 1987 the name of the Company was changed to Addi Industries Ltd. from Addi Krafts Ltd. "Addi Farms Ltd." is a wholly owned subsidiary of the company. The company is a manufacturer and exporter of cotton and vellour knitwears and elastics, tapes. - 1,20,000 No. of equity shares allotted to promoters, directors, their friends, etc. 11,30,000 No. of equity shares then offered at par of which 3,80,000 shares were reserved and allotted to promoters, directors, etc. on a firm basis. - Of the remaining 7,50,000 shares, the following were reserved for allotment on a preferential basis: - (i) 57,500 shares for employees of the company (only 16,000 shares taken up) and - (ii) 15,000 shares to Business Associates of the Company (all were taken up). - The balance of 6,77,500 shares along with the unsubscribed portion of 41,500 shares from preferrential quota, were offered for public subscription during January-February 1986 (all were taken up). Additional 2,50,000 shares were allotted to retain oversubscription (1,00,000 shares to promoters directors etc. and 1,50,000 shares to the public). 1987 - The company amalgamated units, the Addi Worsted Ltd., commenced 1st March, 1988. - 80,154 No. of equity shares allotted in March 1988 without payment in cash at the members of the amalgamating companies. 1988 - The Company embarked upon an expansion cum diversification programme for increase in installed capacity of its worsted yarn plant setting up of a woollen and knitting plant at NOIDA near New Delhi. - As per Delhi High Court Order dated 18th February, the Companies 3 projects namely Addi Fashions Pvt. Ltd., Addi Worsted Ltd., and Addi Woollens Ltd., which were at various stages of implementation, were amalgamated with the company. Consequent upon the amalgamation, the holders of equity shares of the amalgamated companies were allotted 30,514 No. of equity shares of Rs. 10 each (Addi Woollens Ltd., Addi Worsted Ltd., and Addi Fashions Pvt. Ltd., were offered 16,007 shares, 12,507 shares and 2,000 shares respectively). The amalgamation was effected with a view to diversify its product range. 1989 - The performance in terms of turnover profitability and growth in business was highly satisfactory. - 9,17,500 shares issued at par to promoters in conversion of loans. 1990 - With the implementation of expansion/diversification projects, the company hoped to realise substantial gains. - The company undertook a cotton spinning project to install 25,536 spindles. 1991 - The `tow to top' converter plant was installed with a view to improve productivity as well as quality of yarn. Also, machineries imported for woollen/cotton knitting unit was installed and commercial production therein commenced. In addition, a dyeing plant with a capacity of 3,500/4,000 kgs. per day was installed for knitted fabric at Sikandrabad. 1992 - Sales declined due to political unrest and economic problems. 1993 - Dyeing Unit at Ghaziabad was commissioned and the Commercial production of the cotton spinning Unit was expected to commenced by September 1995. - During February, the company issued 19,55,691-12.5% secured fully convertible debentures of Rs. 102 each on rights basis in the proportion of 80 debentures : 100 equity shares held. Only 18,83,347 debentures taken up. - Another 5,093-12.5% fully convertible debentures were offered to the employees. Only 1,250 debentures taken up. - Part A of Rs. 51 of each debenture was to be converted into 1 equity share of Rs. 10 each at a premium of Rs. 41 per share on the date of allotment of debentures. Accordingly 18,84,597 No. of equity shares were allotted. - Part B of Rs. 51 of each equity share converted into 1 equity shares of Rs. 10 each at a premium of Rs. 41 per share at the end of six months from the date of allotment (18,84,597 No. of equity shares were already converted). 2004 -The Company recommended 10% dividend @ Rs 0.50 per Equity share of Rs 5 each fully paid up. -The Company approved the sub-division /splitting up of the existing Equity Shares of Rs 10/- each fully paid-up Shares of the Company into 2 Equity Shares of Rs 5/- each fully paid-up. 2005 -The Company has recommended payment of 10% dividend i.e. @ Rs 0.50 per equity share of Rs 5/- each fully paid up. 2006 -The Board of Directors appointed Shri. C L Jain as Chairman & Managing Director of the Company. 2007 -The Company designated E-mail ID of the grievance redressel division / compliance officer for the purpose of registering complaints by Investors. 2010 -The Company Recommended dividend @ 5% equivalent to Rs. 0.50/- per share on the paid up share capital of the Company. 2021 -Approved the scheme of Amalgamation of AumTexfab Private Limited with Addi Industries Limited