YEAR EVENTS 1983 - The Company was incorporated on 29th June, in Karnataka. The Company was promoted by R.N. Shetty and his associates and Karnataka State Industrial Investment & Development Corporation Ltd. (KSIIDC) in the joint sector. The Main Object of the Company is to Manufacture ceramic floor and wall tiles. - The Company entered into a technical and financial collaboration agreement with M/s. Klingenberg Dekoramik, GmbH, W. Germany for technical know-how, ceramic technical documentation, assistance in machinery selection, establishing production and training Indian technicians in Germany. 1987 - 25 equity shares subscribed for by signatories to the Memorandum of Association. 44,99,975 No. of equity shares then issued at par of which the following shares were reserved for allotment on a firm basis: (i) 16,19,979 shares to promoters, directors their friends etc.; (ii) 9,99,996 shares to KSIIDC and (iii) 2,30,000 shares to Klingenberg Dekoramik, GmbH, West Germany. - Of the remaining 16,50,000 No. of equity shares, the following shares were reserved for allotment on a preferenial basis: (i) 5,00,000 shares to NRIs on repatriation basis (only 29,300 shares taken up); and (ii) 2,25,000 shares to employees, etc. (none were taken up). The balance 9,25,000 shares, along with 6,95,700 shares not taken up under preferential quota, offered to the public in January 1988. 1988 - The Company was the first to introduce whispering and linen weave effect tiles in the market. - The Company proposed to double the installed capacity to 25,000 TPA involving a capital outlay of Rs 700 lakhs. 1990 - During February-March, the Company offered 90,000-14% fully convertible debentures of Rs 150 each on Rights basis in the proportion 2 debentures: 100 equity shares held. Additional 13,379 debentures were allotted to retain oversubscription. - Simultaneously, 4,500-14% convertible debentures were offered to employees (including Indian Working Directors)/workers of the Company on an equitable basis. (Only 870 debentures taken up). The unsubscribed portion of 3,630 debenture were to be allotted to mutual funds/financial institutions etc. - Rs 50 of the face value of each debenture was to be compulsorily and automatically converted into 5 No. of equity shares of Rs 10 each at par on the expiry of 6 months from the date of allotment of debentures. - Rs 100 of the face value of each debenture was to be compulsorily and automatically converted into such number of equity shares and at such premium as may be decided by the CCI, after completion of 24 months from the date of allotment of debentures. - 2,100 shares forfeited. 5,21,245 shares allotted at par in conversion of debentures. 1992 - The Company introduced `Plaza', `Galaxy' and Symphony Series of Ceramic tiles which were well received in the market. Also, tiles in sizes viz. 25cm x 20cm and 20cm x 15cm were introduced. - 2,59,177 shares allotted (prem. Rs 30 per share) in conversion Part `B' of debentures. 1993 - During the year Tiles in may new designs and colours were introduced. - During April-May, the company issued 26,60,000 No. of equity shares of Rs 10 each for cash at a premium of Rs 50 per share on Rights basis in proportion 1:2. Only 24,82,310 shares were taken up. - Another 1,00,000 No. of equity shares of Rs 10 each were offered at a premium of Rs 50 per share to employees' on an equitable basis. (Details of allotment not know). - Simultaneous to the above issue, the Company also issued through a prospectus 9,00,000-16% secured redeemable partly convertible debentures of Rs 180 each on Rights basis in prop. 1 debenture: 6 equity shares held. Only 8,77,886 debentures were taken up (of these 33,303 debentures each devolved on Canara Bank & Vijaya Bank. Devolvement to the extent of 22,114 debs. on Bank of Baroda awaited). - Part A of Rs 60 of the face value of each debenture was to be converted into one equity shares of Rs 10 each at a premium of Rs 50 per share at the end of 6 months from the date of allotment of debentures. - Part B of Rs 120 of the face value of each debenture was to be redeemed at the end of the 6th, 7th and 8th year respectively from the date of allotment of debentures. 1994 - 1,77,690 right shares not taken up were allotted. 2,042 shares forfeited. 2004 -Shri K Jairaj has been appointed as an Additional Director of the company. -Murudeshwar Ceramics have recommended dividend at Re 1 per share of nominal face value of Rs 10 each. 2005 -Shri I. M. Vittala Murthy has been appointed as a Director of the company. -Shri. Sadanand V. Nadig has been inducted as an Additional Director of the company. 2006 -Murudeshwar Ceramics commences commercial production of Glazed Ceramic Tiles -Shri K Sundar Naik has been appointed as Additional Director of the company. 2007 -Murudeshwar Ceramics has recommended Dividend @ 20% 2008 -Dr. S S Hiremath has been appointed as an Additional Director on the Board of the Company -Murudeshwar Ceramics has recommended dividend at 12% 2009 -Murudeshwar Ceramics has recommended dividend of Re 0.60 2010 -Murudeshwar Ceramics Ltd Issues Rights in the Ratio of 1:1 2011 -Mr. Annappayya Kundapur has been appointed as an Additional Director on the Board of the Company. 2012 -Murudeshwar Ceramics Appointed Mr. Keremane Sankappa Shetty as Additional Director of the Company. 2014 -Murudeshwar Ceramics appointed Mrs. Sarvani Alva as Additional Director on the Board of this Company.