YEAR EVENTS 1960 - The Company was incorporated in February at Mumbai. The company manufacture heavy organic chemicals such as acetic acid, ester solvents, benzyl products, plasticizers and polyester fibre and computer software. Polyster fibre is sold under the trade mark "FUTURA". 1962 - 10,000 Rights Shares issued at par in propn. 1:4. 1969 - In Sept. 20,000 Bonus shares issued in prop. 2:5. 1970 - In May, 70,000 Right Equity shares issued at par in prop. 1:1. 2,10,000 No. of equity and 1,00,000 Pref. shares issued: (i) 6,645 No. of equity shares to directors and employees; 19,275 No. of Equity shares reserved for allotment to Chemtex Fibres, Inc., against supply of machinery; (iii) 1,84,080 No. of Equity and 1,00,000 Pref. shares offered to public. 1972 - The Company set up a plant for the manufacture of 6,100 tonnes of polyester fibre under the brand name `FUTURA' at Manali in Tamil Nadu State. - The Company entered into collaboration agreements with Chemtex Fibres Inc., U.S.A., for the supply of machinery equipment and technical data from abroad and Chemtex Overseas Inc., U.S.A., for covering procurement and supply of machinery in India in addition to the technical data and continuing know-how. These companies are the wholly owned subsidiaries of Chemtex Inc., U.S.A., which by another agreement guaranteed their performance. 1976 - 1,65,362 Bonus Equity shares issued in propn. 1:2. 1978 - The Company received industrial licence for expanding the capacity of polyester staple fibre from 6,100 tonnes to 12,000 tonnes per annum. - Technical collaboration arrangements were concluded with Zimmer Aktiengesellschaft and Neumunstersche Machinen Und Apparatebau GmbH, both of West Germany. 1979 - 2,48,043 Bonus Equity shares issued in prop. 1:2. 1982 - Approvals of the High Courts at Karnataka and Mumbai were received. The Scheme of Amalgamation became effective from 1st March, 1983 and the shares and debentures were allotted effective from 1st July, 1981 in terms of this Scheme. - 1,00,000 - 9.3% Pref. shares redeemed. 3,50,000 No. of equity shares issued at par to members of erstwhile Corporation Bank, Ltd., without payment in cash upon its merger with the Company. 1983 - 3,58,215 shares allotted (premium Rs 10 per share) on part conversion of 13.5% debentures of the first series. 1984 - A letter of intent was received to manufacture 2,500 tonnes of french fries and allied products per annum. 1985 - A new reactor was installed in the acetic anhydride plant. - The Company converted letters of intent to increase the capacity of the Manali unit to 30,000 tonnes per annum and to manufacture 3,500 tonnes per annum of polyester filament yarn at Manali. - Letter of intent were converted into industrial licence. Foreign Collaboration was approved by Government. - The Company set up a software division at Bangalore which would initially develop software packages for various industries. - 1,55,535 Shares allotted (Premium Rs 15 per share on conversion of 12% debentures of third series. 41,52,525 bonus shares then issued (Prop. 1:2). 1986 - The Glyoxal plant with a capacity of 1,000 tonnes per annum was set up. The company received a DGTD registration to increase the installed capacity of Benzaldehyde from 300 to 2,000 tonnes per annum. The Company also made an application to increase the capacity of alcohol based chemicals from 14,700 tonnes to 24,700 tonnes per annum. - The Company holds industrial licence for manufacture of phenylglycine base (300 TPA) and Para - Hydroxyphenyl glycine dane salt (150 TPA) and their derivatives in different capacities. - A photo processing plant was installed and the items marketed under the brand name "NIK-NAKS" were well received in the market. 12 Software packages useful to business and industry were developed/published. - The Company issued 34,99,996 - 15% secured non-convertible debentures of Rs 100 each. Of these, debentures aggregating Rs 15 crores were privately placed with LIC, UTI and GIC and its subsidiaries and debentures of the value of Rs 19.99 crores were offered as rights to resident Indian shareholders. 1987 - Convenience Foods (India), Ltd., became a subsidiary of the Company. - 62,28,800 Right Equity shares issued (Prem. Rs 5 per share; Prop. 1:2). Only 65,44,984 shares taken up. Out of the remaining 5,84,059 shares 2,74,741 shares were allotted privately leaving 3,09,075 shares unallotted. Another 3,11,400 No. of Equity shares were offered to the employees of the Company (Stock Option Scheme) at a premium of Rs 5 per share but only 22,700 shares taken up. The balance 2,88,700 shares were allowed to lapse. 1988 - In the area of Desk Top Publishing, a new package called `Prakashak' was introduced. - The Name of the Subsidiary, Convenience Foods (India), Ltd. was changed to Futura Industries, Ltd. 1990 - With a view to improving the situation, the Company introduced certain value added products like bright Trilobal yarn that fetched better prices. Also, the speciality fibres such as black dyed, trilobal and tow were introduced. - The Company expanded its polyester filament yarn capacity to 9,175 tonnes. 1992 - The Capacity of Ethyl Acetate was expanded from 5,000 to 8,000 TPA. - A joint venture company with equity participation by the Company, was being set up in USA to market software and digitising services in USA. - During March-April, the Company offered 20,00,000-15% secured redeemable partly convertible debentures of Rs 125 each on Rights basis in the proportion of 11 debentures: 100 No. of Equity shares held (All were taken up). Additional 3,00,000 debentures were allotted to retain oversubscription. - Another 1,00,000 - 15% debentures were issued to the employees (including Indian working directors)/workers of the Company on an an equitable basis. Only 27,550 debentures taken up. The unsubscribed portion was allowed to lapse. Rs 50 of the face value of each debenture was to be converted into 2 equity shares of Rs 10 each at a premium of Rs 15 per share on the expiry of six months from the date of allotment of debentures. - Remaining Rs 75 of the face value of each debenture was to be redeemed at par in three equal annual instalments at the end of the 6th, 7th and 8th year from the date of allotment of debentures. - 46,55,100 No. of equity shares allotted (Prem. Rs 15 per share) on conversion of 15% debentures. 1993 - During the year additional value added products such as high resolution fonts, colour separation software, Document management solution, etc. were offered to the printing and publishing industry. - During March/April, the Company issued 92,22,040 No. of equity shares of Rs 10 each at a premium of Rs 20 per share on rights basis in the proportion 2:5. Only 78,14,191 shares taken up. The balance 14,07,849 were issued on private placement basis. 1994 - A separate company named `Sonata Software Ltd.' was formed which took over the business of software division. - The Company plans to set up a joint venture company with Pepsi-Cola International, USA to manufacture 23,000 tpa of bottle grade polymer Chips with a firm buy back arrangement. - Corporation Bank Ltd., was merged with the Company. In terms of the Scheme of Amalgamation, a sum of Rs 155 lakhs was to be made available to the company by Corporation Bank Ltd. In consideration the Company was to issue and allot 35,000 No. of equity shares of Rs 100 each, 35,000 - 12% convertible debentures of Rs 150 each all credited as fully paid-up. - The Basis therefore will be the issue of 1 equity share of Rs 100 each, 1 convertible debenture of Rs 125 each and 1 non-convertible debenture of Rs 150 each, all credited as fully paid in exchange for every 5 fully paid equity shares of Rs 50 each in Corporation Bank, Ltd. - The Company converted 12,00,000 No.of equity warrants issued to the management group to 12,00,000 No. of equity shares of Rs 10 each at a premium of Rs 68 per share. An amount of Rs 7.80 (Rs 1 face value and Rs 6.80 premium) called up. - Sonata Software Ltd., became a subsidiary of the Company. 1995 - The performance of the polyester unit was adversely affected due to recession in the textile and yarn markets and steep rise in prices of basic raw materials. - The Company issued 3,72,065 - 13% secured convertible debentures of Rs 100 each at par to its equity shareholders. As per the terms of the issue, for each debenture, one equity share of the face value of Rs 10 each at a premium of Rs 10 per share. 1997 - Profitability of the alcohol based chemicals was affected due to increase in the price of alcohol and, fluctuations in exchange rate, etc. 1998 - 4,500 forfeited shares reissued. 2002 -Indian Organic Chemicals Ltd has informed BSE that the Chennai High Court and Bombay High Court have sanctioned the scheme of amalgamation of Futura Polymers Ltd with Indian Organic Chemicals Ltd. 2008 -Futura Polyesters has designated E-mail ID for Investors Complaints: investorrelations@futurapolysters.com2011-Futura Polyesters has incorporated a wholly owned subsidiary Company under the name FPL Property Developers Pvt. Ltd.