Bhagwati Autocast Company Information
Bhagwati Autocast
Company History
1981 - The Company was incorported on 20th October, as a public limited company in Gujarat State and the Certificate of Commencement of Business was obtained on 19th July, 1982. The Company was promoted by M/s. Bhagwati and Shri M.N. Shah.
The main object of the Company is to Manufacture S.G. iron castings and alloy iron castings. The Company was licensed to manufacture 1,800 tonnes of S.G. iron castings per annum and 2,400 tonnes of alloy castings per annum. 7 No. of equity shares were subscribed for by the signatories to the Memorandum and Articles of Association.
1983 - Authorised capital increased and reclassified. During August 6,19,993 No. of equity shares of Rs.10 each issued at par. Of these, 2,47,993 No. of equity shares (20,000 shares reserved for NRIs) were reserved for allotment to promoters, directors, their friends, relatives and associates. The balance 3,72,000 No. of equity shares were issued to the public (1,50,000 No. of equity shares reserved for NRIs) at par through a prospectus.
1985 - The Company undertook to expand its installed capacity for plant and machinery for buildings. Funds for this expansion were raised through a rights issue of shares. The expansion
envisaged installation of a second induction furance and balancing equipment.
2,97,600 rights equity shares issued at par in prop. 12:25. 74,400 additional equity shares allotted at par to retain oversubscription.
1992 - Profits were adversely affected due to high cost of inputs. The Company undertook an expansion-cum-modernisation scheme. Major machinery was installed. During October, the Company issued 6,61,333 No. of equity shares of Rs.10 each at a premium of Rs.20 per share on rights basis in the proportion 2:3. Only 5,38,846 shares taken-up. Out of the remaining 1,22,487 shares, 69,534 shares were taken by underwriters. Negotiations with the underwriters/lead managers were going on for taking up the balance 52,953 No. of equity shares. 6,08,380 rights equity shares allotted (prem. Rs.20 per share, prop 2:3).
1994 - The Company installed a new induction furnace and also installed drum hamogenizer cum cooler to achive better quality of moulding and for getting better finish of the castings.
Company Background
Industry Name : Castings/Foundry
Year Of Incorporation 1981
Regd. Office
Address : Survey No 816,, Village Rajoda,
District : Ahmedabad District
State : Gujarat
Pin Code : 382220
Auditors : K D Parekh & Co
Registrars
Name : M C S Ltd.
Address : No. 101, SubhShatdal Complex, 1st Floor, Opp. Bata Show Room, Ahmedabad - 380009, Gujarat
Tel. No. : 26581296 , 26582878
Fax No. : 26584027
Email : mcsamd@icenet.co.in
BSE: 504646
List Of Directors
1 P N Bhagwati Chairman and Managing director
2 Reena P Bhagwati Joint Managing Director
3 M P Bhagwati Director
4 M N Shah Director
5 B L Dalal Director
Location Details
Registered Office & Factory
Survey No 816, Village Rajoda,
Ahmedabad District - 382220
Gujarat - India
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