YEAR EVENTS 1981 - The Company was incorporated on 3rd October, in Hyderabad. The Company was promoted by J.S. Krishna Murthi, A. Sudhakar and M.V. Subba Rao with Andhra Pradesh Industrial Development Corporation Limited (APIDC) as co-promoters. - The main object of the Company is to manufacture Ferro Silicon. 1983 - 6,80,000 shares taken up by promoters, etc. and 3,70,000 shares allotted to APIDC. 1984 - 8,00,000 shares issued at par of which 1,50,000 shares offered on a preferential basis to NRIs with full repatriation rights (only 63,500 shares taken up). The balance 6,50,000 shares, along with 86,500 shares not taken up by NRIs were offered to the public in November. 1986 - The Company proposed to install a 6.8 MVA DG set to augment the power shortage. 1988 - The Company received re-endorsement of its licensed capacity. The Licence was received to manufacture 36,000 tonnes per annum of low phosphorous pig iron. - 11,800 shares forfeited. Subsequently, forfeiture on 1,100 shares annulled. 1989 - The Company examined the possibility of modifying the Russian furnace for manufacture of other metallurgical products besides pig iron and ferro silicon, with a view to broad band the ferro alloy industry. - The Company in collaboration with M/s. Elkeen Metallurgy a/s Norway set up a state-of-art ladle refining equipment and micro-processor based testing facilities to produce high purity silicon with low aluminium. This project was commissioned in March. - During November, the Company offered 1,48,000-14% fully convertible debentures of Rs.150 each on Rights basis in the prop. 4 Deb : 50 No. of equity shares held. Additional 22,200 debentures were allotted to retain oversubscription. - Simultaneously another 7,400-14% fully convertible debentures were issued to the employees (including Indian working directors)/workers of the Company on an equitable basis. Only 6,690 debentures were taken up. The unsubscribed portion of 710 debentures were allowed to lapse. 1990 - 7,400-14% fully convertible debentures were to be automatically converted into 5 equity shares of Rs.10 each at a premium of Rs.20 per shares on 1st October. Along with the above issue, the Company also issued 2,29,000-14% secured partly convertible debentures of Rs.350 each through a prospectus of which 1,57,450 debentures were issued on preferential allotment basis as follows: - (i) 11,450 debentures to employees/working directors of the Company (only 20 debentures were taken up); - (ii) 43,000 debentures to NRIs' on repatriation basis (all were taken up); - (iii) 60,000 debentures to shareholders of the Company (all were taken up); - (iv) 43,000 debentures to Financial Institutions/Mutual Funds (all were taken up). - The remaining 71,550 debentures along with 11,430 debentures not taken up by employees were issued to the public. Additional 34,348 debentures were allotted to retain oversubscription. 6,450 debentures to NRIs, 6,578 debentures to shareholders and 21,320 debentures to the public. - Rs.150 of the face value of each debenture was to be automatically and compulsorily converted into 5 equity shares of Rs.10 each at a premium of Rs.20 per share on 1st October. - The remaining Rs.200 of the face value of each debenture was to be redeemed at par at the end of 6th (Rs.60), 7th (Rs.70) and 8th (Rs.70) year from the date of allotment of debentures. -21,90,420 No. of equity shares were allotted at a premium of Rs.20 per share in conversion of the above debentures. Allotment of 7,060 shares relating to 1,412 debentures was kept pending on account of non-payment of allotment money due. -Forfeiture on 2,750 shares annulled. 21,90,420 shares allotted in conversion of debs. 1991 -3,710 shares allotted in conversion of debs. 1992 -2,320 shares allotted (prem. Rs.20 per share) in conversion of debs. Forfeiture on 2,650 shares annulled. 1993 -The overall performance suffered heavily mainly due to non-availability of power from APSEB which curtailed production and caused cash flow difficulty. 2004 -Techtran Polylenses has entered into an MOU with VBC Ferro Alloys Ltd for the purchase of 1,34,000 equity shares of Rs 10 each in AP Gas Power Generation Corporation Ltd for Rs 2.07 crore. -The Company recommended dividend @10%. 2005 -The Company recommended Dividend @20% on the paid up equity share capital of the Company. 2006 -The Company recommended dividend at the rate of 10% on the paid up equity share capital. 2007 -The Company recommended dividend @ 20% on Equity Shares of Rs 10/- each. 2008 -The dividend @ 20% on 41,94,350 Equity Shares of Rs 10/- each. -VBC Ferro Alloys Ltd has informed that the Board of Directors decided to appoint Shri. G Narayanan, ex-chairman & MD of Andhra Bank as additional director of the Company. 2009 -The Company recommended a dividend of 20%., i.e. Re 2 per equity of Rs 10/- each. 2010 -The Company recommended dividend of Rs. 2.50 per equity share of Rs. 10/- each (i.e. 25%) 2012 -The Company recommended dividend of Rs. 3/- per equity share Rs. 10/- each (i.e., 30%). 2014 -Mr. V. S. Rao as an Additional Director of the Company . 2024 -Company name has changed to Chrome Silicon Ltd. from VBC Ferro Alloys Ltd.