YEAR EVENTS 1985 - The company was incorporated on 22nd April, and the certificate of commencement of Business was obtained on 14th May. It was promoted by Manhar G. Gandhi and Bhupatrai G. Gandhi belonging to Gandhi group and was licensed to manufacture 12 million metres per annum of welded and seamless precision steel tubes. The company manufacture precision seamless steel tubes. - The main objective of the company is to manufacture precision DC welded steel tubes and precision seamless steel tubes. - The company entered into a technical collaboration agreement with Bentelar Werk A.G. of West Germany for the manufacture of small diametre steel tubes for 5 years from date of commercial production. They agreed to supply the main plant and equipment incorporating the latest technology and high productivity. - The Company undertook to set up a project for the manufacture of small diameter DC welded precision steel tubes with bright and clean internal furnace forautomative, refrigeration and various other industries and high pressure diesel fuel injection seamless tubes at Nurpura village in Panchmahals district, a backward area of Gujarat State. - 70 shares subscribed for by the signatories to the Memorandum of Association. 26,49,930 shares then issued at par out of which 13,79,930 shares were reserved and allotted to promoters, directors, etc. Out of the remaining 12,70,000 shares were reserved for preferential allotment. 1,32,500 shares to employees (including Indian working directors)/workers of the Company, 25,400 shares to business associates of the Company and 5,00,000 shares to NRIs with repatriation rights. - The balance 6,12,100 shares were offered for public subscription during March-April 1986. 5,86,100 additional shares allotted to retain oversubscription (70,000 shares to promoters, etc., 4,000 shares to NRIs, 6,350 shares to business associates and 5,05,750 shares to the public). 1987 - 13,75,000 rights equity shares offered at par to Resident Indian shareholders in prop. 1:2 (only 4,53,400 shares allotted to financial institutions. Balance 1,15,000 shares were to be offered to private placement basis. 68,500 shares offered to employees. None were taken up and allowed to lapse. 1990 - The improved productivity by virtue of removal of bottleneck at the finishing line and catering to the specific needs of the customers etc. Despite this, profitability did not register improvement due to adverse situation created by Gulf war, unsettled condition on the political and economic fronts etc. - On 17th, March, the Company offered 10,29,000 No. of equity shares of Rs. 10 each for cash at par aggregating to Rs. 102.90 lakhs. Of these, 9,77,550 shares were offered to the shareholders on rights basis in the prop. 1:4 (only 9,77,531 shares taken up) and another 51,450 shares offered to the employees (only 800 shares taken up). The unsubscribed portion of the employees quota was allowed to lapse. - In terms of the consent of the Controller of Capital Issues, the promoters, etc., shall have to divest their holding in excess of 40%. 1993 - The Company has allotted 4,44,107 No. of Equity shares to the Industrial Development Bank of India on account of conversion of outstanding dues being part of the reliefs and concessions granted by the financial institutions to the Company. - The Company has offered 30,44,919 No. of Equity Shares of Rs.10/- each in the ratio of 1:2 for cash at par to the shareholders and 23,000 No. of Equity Shares of Rs.10/- for cash at par to the employees of the Company. 1995 - The name of the Company has been changed to "GANDHI SPECIAL TUBES LTD" with effect from 6th November. 1998 - The Company has been certified as ISO 9002 Company during the Year. 2000 - The Company has recommended, subject to necessary approvals, the proposal to buyback of 21,00,000 No. of equity shares of Rs. 10/- each of the company which is 22.22% of the total paid up equity capital of the company at a maximum offer price of Rs. 17/- per share. 2007 - Gandhi Special Tubes Ltd has informed that Shri. Dharmen B Shah is appointed as Additional Director of the Company w.e.f. October 11, 2007 vide circular resolution passed on dated October 10, 2007. 2008 - The Company has splits its face value from Rs10/- to Rs5/-. 2009 - The Company has declared Interim Dividend Rs 2.50 per share of Rs 5/- each aggregating to Rs 367.47 lacs for the year ending March 31, 2009. - Gandhi Special Tubes Limited - Re-appointed Mr. K. N. Warden as Director of the Company liable to retire by rotation. 2010 - Gandhi Special Tubes Ltd declared a normal Interim Dividend at 50% (Rs.2.50 p. per share) and a Special Interim Dividend of 50% (Rs.2.50 p. per share) on account of Silver Jubilee year aggregating to Rs. 5/- per share(100%) on equity shares of Rs.5/- each for the financial year ending March 31, 2010. 2011 -Gandhi Special Tubes Ltd declared Interim Dividend Rs. 5/- per share (100%) of Rs. 5/- each aggregating to Rs. 734.93 Lacs for the year ending March 31, 2011. 2012 -Gandhi Special Tubes Ltd declared an Interim Dividend of Rs. 6.00 per share (120%) of Rs. 5/- each aggregating to Rs. 10.25 Crores inclusive Dividend Tax for the year ending March 31, 2012. 2013 -Shri. Kawas Nariman Warden who is already an Independent Director of the Company, is appointed as Additional Member of the Audit Committee of the Company. -Registered office of the Company had been shifted From Jariwala Mansion, 2nd Floor, 43 K. M. Munshi Marg,Near Bhartiya Vidya Bhavan,Mumbai - 400007 To #201-204 plaza, 2nd Floor, 55 Hughes road, Next to Dharam Palace, Mumbai - 400007. 2015 -Gandhi Special Tubes Ltd has Change of address of Registrar and Transfer Agent (RTA).