YEAR EVENTS 1990 - 350 No. of equity shares of Rs 10 each subscribed by the signatories to the Memorandum & Articles of Association. 5,00,000 No. of equity shares of Rs 10 each allotted to resident, directors, friends and relatives. 37,99,650 No. of equity shares of Rs 10 each allotted to other promoter companies. 30,24,947 No. of equity shares of Rs 10 each at par allotted to Indian public through public issue. 1991 - IP Rings Limited, was incorporated as a public limited company on January 30th. The company has been promoted by India Pistons Limited, alongwith other group companies of the Amalgamation Group. - I P Rings Limited belongs to the "Amalgamation Group", one of the largest light engineering groups in India. - The Company is setting up a plant for manufacture of 20 lac nos. piston rings per annum including steel piston rings at Maraimalai Nagar, Chengai, MGR District, Tamilnadu. 1992 - The company was incorporated on 30th January 1991 and the Directors decided to close the accounts for the first time covering the operations upto 31st March, 1992. - The company has also entered into a Consultancy Agreement with India Pistons Ltd., who are pioneers in the field of Piston Ring manufacture in the country. - The Public Issue of the Company's 2200000 Equity shares, which includes 1705000 Equity shares to the Indian Public has been an overwhelming success. 1993 - The Directors have entered into new agreements with the collaborators, Nippon Piston Ring Co Ltd, Japan, covering latest technologies in surface treatment of rings. 1994 - The company has set up complimentary production facilities involving additional outlay towards sophisticated technologies in surface treatment of rings. - Plasma Spraying technology which is the state of the art process for thermal spraying for Diesel piston rings has been installed. - The Company also intoroduced the technology of Chrome Plating of Inner Dia of Oil rings and sides of compression rings. 1995 - The Company has successfully implemented the project for manufacturing Niffex-S type Three Piece Oil Rings in collaboration with nippon Piston Ring Co. Ltd., Japan. - The Company has issued 352100 No. of equity shares of Rs 10 each at a price of Rs 157 per share to its technical collaboration, M/s. Nippon Piston Ring Co. Ltd. - The Company also has issued 365100 convertible warrants on preferential basis to promoter companies. Each warrant is to be converted into equity share, at a price of Rs 157 per share, within a period of 18 months from the date of allotment. - During the year, the Company successfully Commissioned the new Gas Nitriding facility which has enabled the company to increase its capacity from 20 lakh rings to 30 lakh rings per annum and also added to its capability to meet the requirements of modern Passenger Cars. - During the year, your Company entered into a new Collaboration Agreement with M/s. Nippon Piston Ring Co. Ltd., Japan for the manufacture of Nifflex-S three piece Oil Ring. 1996 - The Company has obtained ISO 9002 accreditation from TUV CERT Certification body during the year. - The company has added an automatic chromium plating plant with special emphasis on productivity, quality and environmental requirements. The promoters exercised their right to convert the warrants into equity shares. - 3,52,100 shares issued on preferential basis at a premium of Rs 157 to Nippon Piston Ring Co. Ltd., Japan. - The Company has also issued 3,65,100 Convertible Warrants on Preferential basis to the Promoter Companies, viz., India Pistons Ltd., Tractors & Farm Equipment Ltd., Simpson & Company Ltd and Amalgamations Ltd. with an entitlement of 1 Equity Share of Rs. 10 each for every warrant to be converted at Rs. 157 per share as per the guidelines of the Securities and Exchange Board of India. 1997 - IP Rings Ltd. part of the Amalgamations group, proposed to invest Rs.13 crores in capacity expansion this year. - New products would be introduced so as to cater to more types of vehicles, including two-wheelers. - The company has a Japanese collaboration and would therefore be able to compliment its collaborator's marketing efforts. - IP Rings, has a negligible exposure to the international market, is now actively exploring the South East Asian, Korean and Japanese markets along with its collaborator Nippon Piston Ring (NPR), Japan. 1998 - IP Rings Ltd, part of the Amalgamations Group, is looking to introduce new models, and is setting up new facilities for production of rings for two-wheelers, a segment, which in spite of the recession, has maintained its growth. 1999 - IP Rings is a member of the Chennai-based Amalgamations group. - The Chennai-headquartered IP Rings Ltd (IPR) from the stable of Amalgamations, the conservative South India conglomerate, has suddenly caught the fancy of investors. 2000 - The Company, a part of Amalgamations group and a leading manufacturer of piston rings, has obtained QS 9000 certification from RWTUV of Germany. 2003 -The Company approved a capital expenditure programme of Rs 150 million to expand the facilities to meet the growing demand for auto components. 2008 -Company has designated an exclusive e-mail ID for redressal of Investors Grievances. The e-mail address is investor@iprings.com 2010 -The Company has informed that Mr. A. Venkataramani has been appointed as the Managing Director. 2011 -Mr. N Venkataramani has been appointed as Chairman (Non Executive Director) of the Company 2012 -I P Rings Ltd has won "est Kaizen Award" from Ashok Leyland. -Board has recommended a Dividend of Re. 1/- per share (10%). 2013 -Dr. N. Gowrishankar has been appointed as a Non-Executive Director of the company. 2017 -The company issued rights shares of Rs. 10 in the ratio of 4:5 at a premium of Rs. 78.75 per share.