47
(C) CAPITAL STRUCTURE
The Capital Structure of Our Company as on date of filing of this Draft Letter of Offer with SEBI and Stock
Exchange is as follows.
(Rs. In Lakhs)
Particulars
Nominal
Value (Rs.)
Aggregate
Value (Rs.)
A.
Authorized Share Capital
60,00,000 Equity Shares of Rs.10/- each
70,00,000 9% Cumulative Redeemable Preference Shares of Rs. 10/-
each.
600.00
700.00
600.00
700.00
B.
Issued, Subscribed and Paid up Capital before the Issue
32,47,900 Equity Shares of Rs. 10/- each
324.79
324.79
70,00,000 9% Cumulative Redeemable Preference Shares of Rs. 10/-
each, fully paid up
700.00
700.00
C.
Present Issue of Equity Shares being offered to Existing Equity
Share holders through this Offer
21,65,267 Equity Shares of Rs. 10/- each at price of Rs. [*] each on a
Right basis to the existing shareholders of the Company in the ratio 2
(Two) Rights Equity Shares for every 3 (Three) Equity Shares held as
on Record Date.
216.53
[*]
D.
Paid-up Share Capital after the Issue (assuming full
Subscription)
54,13,167 Equity Shares of Rs. 10/- each fully paid up
70,00,000 9% Cumulative Redeemable Preference Shares of Rs. 10/-
each, fully paid up
541.32
700.00
[*]
700.00
E.
Share Premium Account
- Before the Rights Issue
Nil
Nil
- After the Rights Issue
[*]
[*]
Note:
The present Issue of Equity Shares has been authorized by the Board of Directors of Our Company under Section
81(1) of the Companies Act, 1956 vide a resolution passed at their meeting held on October 22, 2010.
The above Capital Structure Statement is prepared on the assumption that proposed Rights Issue of 21,65,267
Equity Shares at the price of Rs.[*]/- per share will be fully subscribed (and all the subscribed shares shall be
made fully paid by the subscribers)
Details of Increase in Authorized Share Capital:
Sr.
No.
Particulars of increase/modification
in Authorised Share Capital
Cumulative
No. of
Equity
Shares
Cumulative
No. of
Preference
Shares
Cumulative
Authorized
Capital (Rs.
In Lakhs)
Date of change
AGM/
EGM
1
Incorporation
90,00,000
-
900
Incorporation
-
2
Increase from Rs. 900 Lakhs to Rs.
1,100 Lakhs and Re-classification
35,00,000
75,00,000
1,100
March 24, 2008
EGM
3
Re-classification of Authorized Share
Capital of the Company of Rs. 1100
lakhs
40,00,000
70,00,000
1,100
August 2, 2010
AGM
4
Increase from Rs. 1,100 Lakhs to Rs.
1,300 Lakhs and Re-classification
60,00,000
70,00,000
1,300
August 2, 2010
AGM
For details of changes in the Authorized Share Capital of the Company, please see “History and Corporate Structure” on
page 102 of this Draft Letter of Offer.
48
Notes to Capital Structure:
Classes of Shares
The Company has presently 32,47,900 Equity Shares of Rs. 10 each and 70,00,000 9% Cumulative Redeemable
Preference Shares of Rs. 10 each in its share capital.
1.
Details of Equity Share Capital of Our Company
Date on which
Equity shares
were allotted and
made fully paid up
No. of
Equity
Shares
Face
Value
(Rs.)
Issue
Price
(Rs.)
Consi
derati
on
Nature of Allotment
Cumulativ
e No. of
Equity
Shares
Cumulative
paid up
Equity
Capital
(Rs. In
Lakhs)
May 12, 1993
70
10
10
Cash
Subscribers to MOA
70
0.007
March 24, 1994
8,04,000
10
10
Cash
Further Allotment to
Erstwhile Promoters,
Friends, Relatives and
Associates
8,04,070
80.41
November 15, 1994
6,92,000
10
10
Cash
Further Allotment to
Erstwhile Promoters,
Friends, Relatives and
Associates
14,96,070
149.607
January 17, 1995
2,14,500
10
10
Cash
Further Allotment to
Erstwhile Promoters,
Friends, Relatives and
Associates
17,10,570
171.057
March 30, 1995
4,80,630
10
10
Cash
Further Allotment to
Erstwhile Promoters,
Friends, Relatives and
Associates
21,91,200
219.12
August 31, 1995
9,24,700
10
10
Cash
Further Allotment to
Erstwhile Promoters,
Friends, Relatives and
Associates
31,15,900
315.19
May 29, 1996
38,65,300
10
10
Cash
Allotment under IPO to
Public and Promoters
69,81,200
698.12
January 31, 2004
(4,85,400)
10
10
Cash
Shares Forfeited
64,95,800
649.58
December 20, 2006
(32,47,900)
10
10
Cash
50% Reduction in
Equity Shares*
32,47,900
324.79
*As per the Rehabilitation Scheme approved by the BIFR vide its order dated November 28, 2006, the paid up equity share
capital was reduced by adjusting 50% paid up Equity Share capital towards accumulated losses and accordingly, the equity
shareholders were issued 1 (One) fully paid up Equity share of Rs. 10/- each for every 2 (Two) Equity Shares held by them.
2.
9% Cumulative Redeemable Preference Share Capital of Our Company
Date of
Allotment
No. of
Preference
Shares allotted
Face value
(Rs.)
Nature of
Allotment
Cumulative No. of
Preference Shares
Cumulative paid up
Preference Share Capital
(Rs. In Lakhs)
March 31, 2008
70,00,000
10
Cash
70,00,000
700.00
The Preference Shares of Our Company are not listed on any of the Stock Exchange. The Preference Shares of Our
Company were made fully paid up on June 4, 2010.
3)
Our Company has not issued any Equity Shares at a premium since Inception.
4)
Our Company has not issued any Equity Shares for consideration other than cash or out of revaluation
reserve.
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