Company History: The Company was incorporated on 13th November 1991 as HINDUSTAN INKSAND RESINS LIMITED and obtained certificate of commencement of businesson 13th January 1992.The Company is promoted by the Bilakhia group who are technocrats withexperience over a decade in the field of printing inks and syntheticsresins.
The company engaged in manufacturing of inks and Resins.
The company has a technical tie up with swiss company colara for supplyof technology and formulation to manufacture various types ofwater-based inks.
The main promoters of the Company are Shri Yunus G. Bilakhia and ShriAnjum G. Bilakhia.
2000
- Care has assigned `AA+' rating to the company's Rs. 30-crore securedNCDs. CARE has upgraded its earlier rating from `AA' to `AA+' assignedto the company's existing Rs. 20-crore secured NCD issue.
- The Company has recommended issue of bonus shares in the ratio of oneshare for one held.
- The Company has set up a wholly-owned subsidiary in the USA with apaid up equity capital of $6.5 million called Micro Inks Corporation.
- The Company has commercially commissioned a speciality flushedcolour/pigment plant having a capacity of 3 000 mt per annum and aresins plant having a capacity of 18 000 mt per annum in the first andsecond week of August.
- Issue of 2 50 000 Red. Cum. Preference Shares of Rs 100/- each atpremium of Rs. 900/- per share at a coupon rate not exceeding 9.5% ofthe face value aggregating to Rs 2500 lac on private placement basis.
- The Company has commissioned its manufacturing plant at Vapi Gujarat.
- The Company issued 2 50 000 95% Cumulative REdeemable PreferenceShares of Rs. 100/- each at a premium of Rs. 900/- pr share to a Bankand a Body Corporate as authorised by the Members of the company.
- The equity capital of the company will increase to Rs.1366lakh fromRs. 683 lakhs on issueof hte Bonus Shares in the ratio of one share forone share held as approved by hte Member of hte Company at the AnnualGeneral Meeting of the Company held on 28th September.
- The company's proposed commercial paper programme of Rs 12 crore hasbeen assigned `PR1+' rating by CARE.
2001
- The Company has been assigned `PR1+' rating by Credit Analysis andResearch Ltd for its Rs 150 million commercial paper programme.
- Bilakhia Holdings Pvt Ltd. has informed that it will acquire anytime after four days 92 64 160 equity shares of the company.
- The rights issue of 8197200 equity shares of Rs.10 each for cash at a premium of Rs.230/- per equity share aggregating to Rs.1967.3 million of the Company has closed for subscription on October 27 2003.
2004
-Hindustan Inks And Resins Ltd has informed that the equity shares of the company have been voluntarily de-listed in terms of Clause 5 of the SEBI (Delisting of Securities) Guidelines 2003 from the Delhi Stock Exchange Association Ltd effective January 23 2004 and The Stock Exchange Ahmedabad effective January 30 2004.
-Company name changed from Hindustan Inks & Resins Ltd. to Micro Inks Ltd. after adopting the name of its US-based wholly-owned subsidiary
-Micro Inks Ltd has informed that the equity shares of the company has been delisted from Vadodara Stock Exchange wef March 22 2004.
