YEAR EVENTS 1971 - The Company was Incorporated as a private limited company on 21st April, 1971 under the name of Hakimrai Jaichand Forgings Private Limited by Yogiraj J. Makar and Surindernath J. Makar. It became a public company in January 1986. The company engaged in the manufacture of forgings. It also supplies forgings as original equipments to Defence factories, Railways and public sector undertakings. - The company entered into a technical services agreement with Goshu Forge Company Limited, Japan for the manufacture of close tolerance forgings to meet the international standards in terms of quality and price. 1985 - The name of the Company was changed to Amforge Industries Private Limited with effect from 9th December. - All shares issued for cash. 30,00,000 bonus equity shares issued in propn. 3:1 February 1986. 1986 - The Company installed a 2,500 tonnes capacity forging press imported from Japan for the manufacture of close tolerance forgings to cater to both the domestic and export markets. - 10,00,000 No. of equity shares of Rs 10 each at a premium of Rs 10 per share linked to 1,00,000-15% secured non-convertible debentures (I-series) of Rs 100 each were issued for cash at par during April. - Out of these 70,000 No. of equity shares linked to 7,000-15% debentures were reserved and allotted on preferential basis to the Company's employees/workers. The remaining 9,30,000 No. of equity shares linked to 93,000 debentures were offered to the public. - Additional 2,32,500 No. of equity shares linked to 23,250 debentures were allotted to the public and 17,500 No. of equity shares linked to 1,750 debentures were allotted to the employees/workers to retain oversubscription. The debentures are redeemable at par in four annual instalments of Rs 25 each commencing from 25th June, 1993 onwards. 1987 - The heat treatment plant at Bhandup factory was commissioned during the year. - With a view of expansion, the Company acquired land at Khopoli for manufacture of heavier forgings upto 250 kgs. With the commissioning of the expansion project, the capacity would increased to 35,000 tonnes of forgings per annum. - The Company raised an amount of Rs 2 crores by private placement of debentures with UTI, LIC and ICICI to meet its long-term working capital requirements. 1989 - The margins were squeezed due to repeated steep increase in steel prices, higher interest burden, increased cost of the fuel and other inputs, overall general cost escalation and also the initial lower capacity utilisation of the hammer project at Khopoli. 1990 - On 2nd June, the Company offered 2,78,250-12.5% secured fully convertible debentures of Rs 70 each for cash at par. Of these, 2,65,000 debentures were offered to the shareholders on rights basis in prop. 1 debenture : 5 shares (all were taken up). - In addition, 13,250 debentures were issued to the existing employees (including Indian working directors of the company) on an equitable basis (all were taken up). 1991 - The technology upgradation-cum-expansion project for manufacture of medium range close tolerance forgings was partly commissioned. - On 1st April, the fully convertible debentures were converted into two equity shares of Rs 10 each at a premium of Rs 25 each. - Simultaneously, the Company issued 14,18,600-12.5% partly convertible debentures of Rs 100 each through prospectus. - On 1st April, Part `A' debenture of Rs 35 was converted into 14,18,600 shares of Rs 10 each at a premium of Rs 25 each. The non-convertible portion of part `B' of Rs 65 will be redeemed at par in four instalments of Rs 15, Rs 15, Rs 15 and Rs 20 respectively at the expiry of the 7th, 8th, 9th and 10th year from the date of allotment. 1992 - The margins remained under pressure due to continued recession, reduced demand, hike in input costs and finance charges. The Khopoli unit was geared up to undertake several new, critical and high profile jobs. - To consolidate infrastructural facilities further, a new heat treatment line was installed and partly commissioned. Exports was affected due to problems in East Europe and the general overall recessionery trends in the international market. - A new heat treatment line was installed. The Company proposed to set up new manufacturing facilities at Pune, which would enhance the capacity by 20,000 tonnes per annum. 1994 - Isha Steel Processors Ltd. was amalgamated with the Company with effect from 1st April. With effect from 1st April, Tru Wheels Limited (TWL) was also Amalgamated with the Company. - 19,99,960 No. of Equity shares to be allotted to the shareholders of erstwhile Isha Steel Processors Ltd. pursuant to the scheme of amalgamation. 1995 - The Margins were affected mainly because of increase in input costs due to excessive competition. - The expansion project at Chakan in Pune for manufacture of high quality precision forgings was commissioned. - The Company issued 24,23,368 Zero Percent Unsecured Fully Convertible Debentures (ZFCDs) of Rs 35 each with Tradeable Detachable Warrants on Rights basis. In terms of letter of offer, the ZFCDs on allotment were converted into equity shares of Rs 10 each at a prem. of Rs 25 per share. - 24,68,370 No. of equity shares issued to the shareholders of ISPL and TWL on amalgamation. 1996 - 24,23,369 No. of equity shares allotted on conversion of zero per cent unsecured fully convertible debentures of Rs 35 each. 2002 -Shri Puneet Makar has been appointed as Chairman & Managing Director of the company. 2008 -Amforge Industries has acquired entire share capital of M/s. Dujon Commercial Pvt. Ltd and has made it its Wholly Owned Subsidiary (WOS). -The company has designated E-mail ID for Investor's Complaints: amfcosec@mtnl.net.in 2009 - Amforge Industries Ltd has appointed Shri. Puneet Makar as Managing Director of the Company.