YEAR EVENTS 1977 - The company was incorporated on 27th June, as a private limited company. It was converted into a public limited company on 29th December 1980. The objects are manufacture of drugs and pharmaceuticals, industrial chemicals, detergents, toiletries, electronics, engineering products, paper, glass and plastic containers and packaging materials. The Company also carries on industrial research and consultancy services. - The restructuring and reorganisation of various Sarabhai Enterprises: - (a) Elscope Private (Elscope) became the owner of the undertaking and business of Sarabhai Chemicals, Sarabhai Machinery and Bakubhai Ambalal; and - (b) Ofisade Private Limited (Ofisade) became the owner of undertakings and business of Sarabhai M.Chemicals, Swastik Household and Industrial Products, Systronics, Telerad, ORG Systems and Operations Research Group, Packart, Cotton & Cloth and WIPS, Sarabhai Research Centre and Sarabhai Electronics Research Centre. - As a part of the reorganisation, the Company also acquired from Shahibag Entrepreneurs Pvt. Ltd., the entire share capital of Himinonic Detergents Industries Pvt. Ltd. (Himionic) and from Kalindi Investments Pvt. Ltd., the entire share capital of Surac Holdings Pvt. Ltd. (Surac). Thereupon Wadi Holdings Pvt. Ltd., the respective subsidiaries of Himionic and Surac, became subsidiaries of the Company. These in turn hold the shares of the following joint venture companies. - A) P.T. Kamaltex, Indonesia: 71,250 No. of equity shares of the face value equivalent of U.S.$10 each in P.T. Kamaltex out of its total paid up share capital equivalent of U.S.$ 37,50,000 divided into 3,75,000 equity shares equivalent of U.S. $10 each. The International Finance Corporation (U.S.A) and Private Investment Finance Corporation of Asia are major shareholders in P.T. Kamaltex. - B) Blue Marlin Ltd., Mauritius: 19,000 No. of equity shares of the face value of K.Shg. 100 each of Kensara Ltd. out of its paidup capital of K.Shg. 20,00,000 divided into 20,000 equity shares of K.Shg. 100 each. - The shares in Himionic and Surac were acquired for an aggregate amount of Rs.473 lakhs. - The acquisition of the undertakings from Elscope became effective from 1st July. - All shares issued to Ofisade Pvt. Ltd. 1978 - The acquisition of the undertakings from Ofisade became effective from 16th May, but in terms of the sale agreement. - The Company issued further 11% Non-Convertible bonds of the face value of Rs.166 lakhs to holding Companies of Sarabhai Enterprises and their subsidiaries to convert demand liabilities of that amount into deferred credits. 1979 - The Company acquired the entire shareholding of 24,700 No. of equity shares of Rs.500 each in SG for a total consideration of Rs.229.71 lakhs. While granting permission for this acquisition, the Reserve Bank of India and the Government of India stipulated that the undertaking of SG should be taken over by the Company. 1981 - The Company proposed to undertake various other schemes of expansion, diversification, modernisation, research and development including those of SG Chemicals & Pharmaceuticals, Ltd. All these schemes were to be implemented during the period. - The new plant, machinery and equipment relating to the above mentioned schemes were to be installed near the existing plant where manufacturing and infrastructural facilities were available. In order to meet increase export demand for the Company's synthetic detergent `Det' manufacturing facilities were being set up in the free trade zone at Kandla. - The Company received industrial licences for the manufacture of several drugs and mini-computers/microprocessors-based systems and computer peripherals. - As per the Gujarat High Court Order dated 27th March, SG was amalgamated with the Company with effect from 1st April 1979. - In terms of the Scheme of Amalgamation, the shareholders of SG, other than the Company (which held 24,700 No. of equity shares) were allotted 50 fully paid equity shares of Rs.10 each at par and 27 fully paid 9% non-convertible redeemable bonds of Rs.100 each and 14 fractions each representing 1/20th of such bond of Rs.100 each in exchange of 2 shares of SG each of the face value of Rs.500. Thus, the Company issued and allotted a total of 6,82,500 equity shares of Rs.10 each as fully paid-up and 3,78,105-9% non-convertible redeemable bonds of the face value of Rs.100 each as fully paid up. - Standard Pharmaceuticals, Ltd., was amalgamated with the Company with effect from 1st April. - In terms of the Scheme of Amalgamation, equity shares of Rs.4.61 lakhs and redeemable bonds of Rs.21.19 lakhs of the Company were to be issued to the erstwhile shareholders of Standard Pharmaceuticals, Ltd. Due to this amalgamation, the Company derived the advantage of the industrial licences for the bulk manufacture of penicillin, Erythomycin, Ampicillin, Vitamin C, Doxy, doxycycline insulin and other pharmaceutical preparations. It was also expected to get tax benefit on the loss of Standard Pharmaceuticals of about Rs.138 lakhs pertaining to the previous years. - The Company issued secured Convertible Debentures of Rs.10 crores on rights basis. The face value of each debenture was Rs.150. An amount of Rs.50 each debenture was converted into 5 equity shares at par on 1st July, 1983. - Shares sub-divided. 90,000 shares then issued at par: 4,50,000 shares to directors/employees of the Company and 1,80,000 shares to business associates of the Company were reserved 83,70,000 shares offered to the public in February. - 6,82,500 shares issued to the members of SG Chemicals and Pharmaceuticals Ltd., without payment in cash on its merger. 31,36,504 bonus shares issued (prop. 1:5). 1982 - The fully automated synthetic detergent plant set up in Kandla Free Trade Zone was commissioned in the last quarter of the year. - It was proposed to manufacture sophisticated computer systems in collaboration with Sperry of U.S.A. - It was proposed to amalgamate with the Company Swastik Household & Industrial Products P. Ltd., Ambernath (Maharashtra) SM Chemicals & Electronics P. Ltd. Kandivli, Bombay and Whitco, Ltd. with effect from 1st July. 1983 - The Scheme of Amalgamation of Swastik Household Industrial Products Pvt. Ltd. (SHIP, Pvt. Ltd) and S.M. Chemicals & Electronics Pvt. Ltd. (SMCEPL) with the Company was sanctioned by the Mumbai High Court and approval from the Gujarat High Court was received on 12th May 1987. - As per the scheme, the Company issued to the shareholders of the amalgamating companies, 1,67,500 fully paid equity shares of Rs.10 each and 1,00,050-13% redeemable bonds of the face value of Rs.100 each in August 1987. - 633,33,330 shares allotted in part conversion of debenture 46,123 shares allotted without payment in cash to shareholders of Standard Pharmaceuticals Ltd., on its merger. 1984 - The Company issued 15% Secured non-convertible debentures for Rs.10 crores. The issue was substantially over-subscribed and after obtaining consent to retain the excess upto 50% of the issue debentures of Rs.15 crores were allotted on 1st February 1985. Further debentures of Re.1 crore were allotted by private placement to business associates in June 1985. The funds raised through these debentures were utilised for augmenting working capital resources. 1985 - In a bid to gain access to the latest innovations in various fields of technological specialisation achieved by World leaders in the field of bulk drugs and pharmaceuticals, electronics and synthetic detergents, a Scheme of Reorganisation of Ambalal Sarabhai Enterprises (ASE) Ltd., was evolved. Under this scheme it was proposed to divide with effect from 1st July, the existing operations of ASE between ASE and its two subsidiaries to be named Sarabhai Electronics Ltd., and Sarabhai Surfactants, Ltd. and give their shares to the existing shareholders of ASE on a pro-rata basis without payment as follows: 25 existing shares of Rs.10 each of ASE to be automatically exchanged without payment of 15 shares of Rs.10 each of the restructured ASE, 6 shares of Rs.10 each of Sarabhai Surfactants Ltd. and 4 shares of Rs.10 each of Sarabhai Electronics Ltd. Shareholders holding less than 25 existing shares of ASE or such number of shares as is not a multiple of 25, will get shares of the same three companies approximately in the proportion mentioned above. - Upon such reorganisation, the Soaps and Detergents division of ASE along with its related R & D, industrial paper, plastic containers and packaging facilities will be transferred as a going concern to Sarabhai Surfactants Ltd. Similarly, the Computer division of ASE along with its related R & D will be transferred as a going concern to Sarabhai Electronics, Ltd., which will specialise in computers, peripherals and instrumentation and represent well known foreign manufacturers like Sony, Sperry, Packard, Gibson, etc. Consequently, the restructured ASE along with Sarabhai Research Centre will specialise mainly in bulk drugs, pharmaceuticals and related health care fields. Negotiations were on for a technical and financial collaboration agreement with E.R. Squibb and Sons of U.S.A. 1986 - The Scheme of Amalgamation for the merger of ASE, of its subsidiaries Himionic holdings Ltd., Wadi Holdings, Ltd., Surac Holdings, Ltd., Perion Holdings, Ltd., Wadi Financiers and Investments, Ltd., and Shahibag Investments Ltd. with effect from 1st July was sanctioned by the High Courts of Gujarat and Mumbai. 1987 - The Gujarat High Court gave its sanction for the Scheme of Amalgamation on 24th December. - SG Chemicals & Pharmaceuticals, Ltd. (SG), formerly known as Suhrid Geigy, Ltd., was a Company in which Ciba-Geigy Ltd., Basle, Switzerland and its associates held 47 1/2% of the paid up capital. Ciba-Geigy discotinued its technical collaboration with SG with effect from 1st Junuary, 1976. - As per the scheme of arrangement Sarabhai Electronics Ltd. (SEL) in which the Electronics division of ASE had been vested, issued 35,82,536 of its equity shares to the shareholders of the Company - 1,67,400 No. of Equity shares allotted without payment in cash to members of SHIP Pvt. Ltd., and SMCPL on their merger. 1988 - The Company suffered a severe setback due to non-availability of working funds resulting in underutilisation of capacity. - The Company entered into an understanding with Bristol-Myers Squibb Corporation, U.S.A for technical know-how in the manufacture of pharmaceuticals and penicillin. This was done with a view to takeover as a going concern the existing undertaking of Synbiotics Ltd. for the manufacture of bulk drugs. - An agreement was concluded on 2nd August for the sale of 9,38,850 No. of equity shares of Rs.10 each held by the Company in Swastik Surfactants Ltd. (SSL) for a consideration of Re.1 crore and for discharge of SSL of its liability of ASE and Associates including Rs.11.66 crores in terms of the scheme of arrangement. This sale was completed by delivery of shares on 3rd November. - The Company disinvested in entire shareholding of 500 No. of equity shares of Rs.1000 each of its wholly owned subsidiary SG Chemicals and Dyes Trading Ltd., for a consideration of Rs.200 lakhs. - 35,82,536 shares cancelled consequent upon the transfer of assets to Sarabhai Electronics Ltd. 1989 - Government granted the industrial licence for the project. Government approval was also received for M/s. Bristol - Myers Squibb (USA) to participate to the extent of 8,00,000 shares in the equity capital of the Company. - The Company proposed to issue fresh equity of Rs.1870 lakhs to shareholders/public for the project. - The Company entered into technical collabortion agreements with Avesta (Sweden) and Pannevis (Netherlands) for the manufacture of special process equipments and screen making equipment. 1990 - 171,29,622 shares allotted as fully paid-up to bondholders of series `A' and `B' on redemption of the said bonds. 1991 - The Company had received necessary permission under the FERA, 1973 for acquiring 6,000 equity shares of Rs.1000 each of the subsidiary Company, Synbiotics Ltd., which were being held by E.R. Squibb & Sons Inc. Necessary approvals from other authorities were awaited. - The Company revalued most of its assets excluding those of Standard Pharmaceuticals, Calcutta, as on 31st March. The surplus of Rs.1605.75 lakhs representing the increase in the value of land was credited to capital reserve No.1 and the surplus of Rs.5032.45 lakhs representing increase in the value of other major assets was credited to capital reserve No.2. - The objects of the public issue of equity capital were (i) to strengthen the financial resources of the Company to maintain the tempo of its rapid growth and (ii) to make its shareholding more broadbased. 1993 - 2,70,39,214 shares allotted on conversion of 15% non-convertible debentures and 13.5% convertible debentures in terms of a special resolution passed in EGM. 1994 - The Company introduced highly purified insulin injections manufactured under technical collaboration with Biobras of Brazil which received enthusiastic response from the medical profession. 1995 - The full range of highly purified procine insulin launched and manufacturing started for human insulin products. An oral formulation `Contramal' manufactured in collaboration with Grunenthal of Germany was launched. - The Electronics division introduced an auto-scanning/computing Densitometer. - 19,66,538 shares issued at an issue price of Rs.22.25 per share to Sarabhai Group Investments Companies, towards settlement of their loans and interest due thereon. 1996 - The Company introduced new `Cardiovascular' anti-inflammatory and antiheptic ulcer drugs in addition to extension of the existing products. - The Company obtained industrial licences for the manufacture of (i) fatty acids from minor edible oils, (ii) Sorbitol and (iii) increcal (cycocel technical) an agrochemical. Letters of intent were in hand for the manufacture of (i) Chlorine and its salts and (ii) screen making equipment. Industrial licence for the manufacture of (i) electronic measuring and testing instrument, (ii) closed cirucuit television systems and (iii) Special process equipment including vacuum dryers, sterilisers, evaporators, crystallisers, heat exchangers etc. were in the process of being endorsed in the name of the Company. The Company's application for the manufacture of computer peripherals and micro-processors was pending with Government. 2000 -The Ahmedabad-based Cadila Healthcare of the Zydus group and the Baroda-based Ambalal Sarabhai Enterprises (ASE) have joined hands to form a veterinary products joint venture. 2007 -Ambalal Sarabhai Enterprises Ltd has appointed Mr. B S Bohra as Additional Director of the Company. 2008 -The Company has acquired 100% paid up share capital of Suvik Hi-tek Pvt. Ltd., (SHPL), a small scale industry, based at Gandhinagar, who is engaged in the business of manufacture and marketing of Pharmaceuticals - Formulations and thereby SHPL is now became a wholly owned subsidiary of the Company. 2012 -Ms. Chaula Shastri has joined the Board of Directors as a Whole-Time Director of the Company. 2016 -Address of the Company's registered office has been changed from Sarabhai Campus Gorwa Road,Vadodara -390023 To Shanti sadan Mirzapur Road Ahmedabad - 380001. 2023 -Company Has Launched New Products 'Rapid Daignostics Product Range' A.