Company History: YEAR EVENTS1978 - Uma Maheswari Mills Limited (UMM) was incorporated at Salem. The Main Object of the Company is Spinning of Cotton and polyester fibre yarn and ginning. - Out of the total shares issued 1 44 000 shares offered for public subscription through a prospectus dated 21.11.1978.
1985 - With a view to modernisation the Company installed 1 Murata Auto Coner in replacement of old machines with the financial assistance from IDBI.
- As a part of the expansion programme the company added 1 Lakshmi speed frame and 2 Lakshmi-Rieter ring frames during the year. The installed capacity was raised to 9 120 spindles.
1986 - 1 Lakshmi-Rieter silver lap machine 1 Lakshmi-Rieter ribbon lap machine 3 Lakshmi-Rieter combers 2 Lakshmi-Rieter draw frames 1 Lakshmi-Rieter ring frame and 1 RJK cone winder were added as a part of its expansion programme.
1987 - The Lakshmi-Rieter ring frames one card two draw frames one comber and one cone winder were added as per Company's expansion programme.
1993 - 2 40 000 bonus shares issued in propn. 1:1.
1994 - 9 60 000 bonus equity shares issued in propn. 2:1.
1995 - The overall working resulted in a loss due to unremunerative yarn prices hike in input costs and strike by workmen. The lock-out was lifted effective 15th July 1996.
- The company issued 14 40 000 rights equity shares of Rs 10 each at a premium of Rs 10 per share and in proportion 1:1 (all were taken up). Simultaneous to the above issue the Company offered 6 20 000 shares through a prospectus as follows:
- 2 90 000 shares of Rs 10 each at a premium of Rs 60 per share on firm allotment basis as follows: (i) 80 000 shares to IDBI; (ii) 40 000 shares to Indian Overseas Bank; (iii) 40 000 shares to Apple Mutual Fund; (iv) 35 000 shares to GIC Mutual Fund; (v) 40 000 shares to Indian Bank Mutual Fund and (vi) 55 000 shares to NRIs/OCB. Balance 3 30 000 shares were issued to the public at a premium of Rs 5 per share (all were taken up).
