YEAR EVENTS 1976 - The Company was Incorporated on 27th February, at Chandigarh. The Company was promoted by Punjab State Industrial Development Corporation Ltd. (PSIDC) and later Oswal Woollen Mills, Ltd. joined as the co-promoter. Manufacture of wool tops and commission combing. 1978 - Issued 2,50,000 shares to PSIDC and 2,50,000 shares to Oswal Woollen Mills Ltd. 1979 - Simultaneously with the public issue of shares during October-November, some of then existing shareholders offered for sale to the public 40,000 shares at par in order to comply with the listing requirement of the Stock Exchange at Delhi and Mumbai. - 12,00,000 No. of Equity shares offered at par for public subscription during October-November. 1985 - The production was lower due to higher quantity of recombing of dyed wool tops. - The letter of intent was received for an additional 3600 spindles, of which 800 spindles had already been commissioned. 1986 - 2,400 additional worsted spindles were added. The Company also received a letter of intent to install 12 power looms. 1987 - 2,400 additional worsted spindles were added. 1988 - The remaining 400 spindles were added. It was proposed to add additional 1,200 spindles of which 800 spindles were to be added during 1989-90. - The Company in association with PICUP promoted a company under the name and style of `Oswal Foods Ltd.' to manufacture vanaspati with a capacity of 100 tonnes per day. 1989 - The Company issued 4,20,000 No. of equity shares of Rs.10/- each at a premium of Rs.35/- per share on rights basis in the proportion 3:5. Additional 63,000 shares were issued to retain oversubscription. Simultaneously, 21,000 shares were offered to the employees (including Indian working directors/workers) of the Company on an equitable basis. All the shares were taken up. - 5,04,000 No. Equity shares issued on Rights basis. 1990 - Another 800 spindles were installed in the worsted spining unit and additional 800 spindles were expected to be added. Some balancing equipments were also added in the wool combing and worsted spinning units. - The Company joined as one of the private co-promoters in the joint sector Company namely Manipur Vanaspati and Allied Industries Ltd. to set up a vanaspati plant of 50 TPD capacity in Imphal, Manipur. - The Company was also invited to join as one of the private co-promoters in joint sector Company namely Oswal Sugars Ltd. promoted in collaboration with Punjab Agro Industrial Corporation Ltd. to set up a sugar mill of 2500 TCD capacity at Mukerian, Punjab. 1992 - The export of hosiery garments to USSR was badly affected due to upheavels in the erstwhile Soviet Union. Sale of yarn in the domestic market was also badly affected due to turmoil in the states of U.P. and Jammu and Kashmir. - The Company was invited to join as one of the private co-promoters in another joint sector company namely Karnataka Oswal Oilpalms Ltd., promoted in collaboration with The Karnataka State Industrial Investment Development Corporation Ltd. to set up a project at Distt. Shimoga in Karnataka for promoting Oil Palm cultivation and putting up a Refinery to extract Palm Oil. 1994 - The Company undertook to set up a unit of 2,400 worsted spindles. The Company installed a new 672 spindles woolen spinning project for the manufacture of lambs wool yarn at existing location of Dhandari Kalan, Ludiana, apart from adding 400 spindles in the worsted spinning unit. - The Company offered 8,82,844 No. of equity shares at a premium of Rs.80 per share to promoters, directors, their relatives and associates, 3,60,000 No. of equity shares at a premium of Rs.100 per share to Indian Mutual Funds 3,94,000 shares at a premium of Rs.100 per share to Indian Financial Institutions, 4,57,700 shares at a premium of Rs.100 per share to NRIs, 1,00,900 shares at a premium of Rs.80 per share to the shareholders of group companies, 63,600 shares at a premium of Rs.80 per share to public. All were taken up. - 6.02.000 bonus shares issued in propn. of 1:2. 36,23,844 allotted through prospectus.