Company History: YEAR EVENTS1947 - The company was incorporated on 2nd April as a private limited company and commenced business soon thereafter. The company was converted into a public limited company on 27th February 1976. Originally it was a wholly owned subsidiary of Coates Brothers & Co. Ltd. London U.K. The Main object of the company is to manufacture printing ink printers sundries synthetic resins and other surface coating materials.1961 - The entire capital was held by Coates Brothers & Co. Ltd. 24 404 No. of equity shares were issued as rights.
1962 - In March 28 153 No. of equity shares were issued to resident Indian national at a premium of Rs. 65 per share.
- The shareholding in the Company of Coates Brothers & Co. Ltd. U.K. was reduced to 66 2/3% by the issue of further shares to Indian residents.
1964 - 96 000 Right equity shares were issued at par.
1970 - 35 013-1/3 shares issued without payment in cash. 1 80 459 bonus shares issued in prop. 1:1 29th January 1968. 2 40 612 shares held by Coates Brothers & Co. Ltd. U.K. 1974 - 3 60 918 bonus shares issued in prop. 1:1. 1977 - During July 2 00 000 shares offered to the public (prem. Rs. 6 per share).
- Reserve Bank of India approved transfer of 1 12 490 equity shares of Rs. 10 each held by Coates Brothers & Co. Ltd. U.K. to Mimec (India) Pvt. Ltd. Calcutta (registered in India) at a price of Rs. 16 per share.
- After this transfer of shares and after the public issue of capital during July the holding of Coates Brothers & Co. Ltd. was reduced to slightly less than 40%.
- The object of the public issue of shares during July was to reduce the non-resident holding from 66 2/3% to less than 40%.
1978 - 1 84 335 bonus shares issued in proportion 1:5.
1982 - As part of the modernisation and rehabilitation programme a modern 1 tonne resin kettle was installed at the Mumbai unit.
1983 - The company installed 4 nos. high efficiency dispension mills at its Mumbai and Calcutta factories.
1985 - 2 21 241 bonus equity shares issued in August 1986 in the proportion 1:5.
1989 - Authorised capital reclassified. 8 84 962 bonus shares issued in proportion 2:3 in January 1990.
1991 - Karson Paints Ltd. (KPL) had become a subsidiary of the Company. This subsidiary was merged with Coates of India Ltd. (Parent company) with effect from 1st July 1992.
1992 - A project to manufacture industrial adhesives at the premises of Karson Paints Ltd. made satisfactory progress. Bostik Ltd. U.K with whom the Company had entered into a technical collaboration agreement completed transfer of technology.
- 22 12 405 bonus shares issued in prop. 1:1.
1993 - During July-August the company issued 11 06 203 No. of equity shares of Rs. 10 each for cash at a premium of Rs.30 per share on Rights basis in the proportion 1:4. (all were taken up). - Another 55 310 No. of equity shares of Rs.10 each were offered at a premium of Rs. 30 per share to employees' on an equitable basis (Only 55 300 shares were taken up).
- 2 12 405 bonus shares issued in proportion 1:1.
- 11 61 503 Rights shares (1:4 premium Rs.30) issued to share-holders & employees.
1994 - Effective 1st February the company allotted 12 99 224 No. of equity shares of Rs. 10 each at a premium of Rs.10 per share on a preferential basis of Coates Brothers Plc London to enable them to increase their holding from 39.60% to 51%.
1996
-Coates of India was entered into a joint venture with Valspar Corporation of the US and transferred its can coatings business to this company.
- The company proposed to enter a joint venture with Cray Valley of France. Approval was awaited from the Pollution Control Board.
1997
-Approved the scheme for transfer of the packaging coatings business of Coates to the joint venture with Valspar Corporation of the US.
-decided to participate in the equity of Cray Valley Resins India Ltd the new joint venture between the company and the French firm Cray Valley.
1998
-Coates of India's proposed joint venture in India with Cray Valley of France now more than a year on the starting block faces a grim future despite a Central Government clearance for the project.
-The `AA' (pronounced `double A') rating assigned to the nonconvertible debenture programme (enhanced from Rs. 3 crores to Rs. 10 crores) has been reaffirmed.
1999
-Coates of India Ltd has spun off its packaging coatings business into a wholly owned subsidiary company called Coates Coatings India Ltd (CCIL) which has initiated moves to induct Valspar Corporation of the US as a 49-per cent joint venture partner.
-The parent company TotalFina SA has signed a memorandum of understanding with Sun Chemical group for the transfer of the coating inks divisions of TotalFina.
2000
-Finalised the sale of its adhesives division to Bostik India Pvt Ltd at a consideration of a little over Rs 9 crore.
- The Oswals of the Ludhiana-based Vardhman group have bought out Coates in the joint venture company Barber Vardhman.
-SUN Chemicals Group BV (SCGBV) which had already acquired 51 per cent stake in Coates of India Ltd has made an open offer to buy an additional 17 21 385 shares of Rs. 10 each at Rs. 165 per scrip from the existing shareholders.
-Acquisition of 59.42 per cent controlling stake in Coates of India Ltd (COIL) the DIC (Dainippon Ink and Chemicals) Group of Japan has decided to bring into India some of its top-end products in the graphic arts business.
2001
-Sun Chemical Group B.V. has acquired 35 11 624 (51 per cent) equity shares of Coates India Ltd from Coates Brothers Plc UK at a total consideration of GBP 60 20 000.
-Mr. B S Kampani has been appointed as Wholetime Director of the company.
2003
-Dainippon Ink & Chemical (DIC) Asia Pacific the Singapore-based parent of Coates of India (CoI) has hiked its stake in the Indian subsidiary to 61.4% from 59.4% by buying shares from the secondary market.
-DIC (Dainippon Inks & Chemicals) Group of Japan has decided to set up a new plant in Bangalore for some of its specialised Graphic Arts products.
-DIC Asia Pacific Pte Ltd. Singapore has informed that they have acquired 1 69 491 shares amounting to 2.46% of the total paid up capital of Coates of India Limited.
-Board accepted the resignation of Mr B M Varma - Non-executive Director from the close of business on October 31 2003.
2004
-Coates Of India Ltd has informed that pursuant to the application for change of name made by the company the Registrar of Companies West Bengal has issued a fresh certificate of Incorporation dated August 6 2004 for change of name of the company to DIC India Limited
2007
-Dic India Limited has appointed Dr. P K Dutt Managing Director to take on the resposibility of Chairman-cum-Managing Director of the Company.
-DIC India Ltd has appointed Prof. Ranjan Das & Mr. Subir Bose as Independent and Additional Directors in the Board of the Company to hold office till the date of forthcoming Annual General Meeting of the Company.
