Coastal Papers Ltd

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YEAR EVENTS
1974 - The Company was incorporated on 11th December, 1974 at
Rajamundry, Andhra Pradesh. It manufactures Kraft, absorbant
Kraft Manifold writing and printing paper. The Company was
promoted jointly by Andhra Pradesh Industrial Development
Corporation Ltd. (APIDC) and a group of competent technocrats
viz. D. Subba Rao, C.V. Rao, T.V. Rao, P. Sobhanadri and
H. Chakradhara Rao. The technical know-how for the project
was
provided by the technocrat promoters themselves free of
charge.

- APIDC and Co-promoters were allotted 75,000 No. of equity
shares
each. 8,000 pref. and 1,50,000 No. of equity shares offered
at
par through a prospectus during April 1976. Of these, 3,000
No.
of equity shares reserved and allotted to APIDC. The balance
shares offered to the public. Pref. shares redeemable during
24.5.1988/91.

1978 - 9,100 forfeited equity shares issued to APIDC and Co-promoters
on
26:25 basis.

1980 - During July, 4,50,000 rights equity shares offered at par in
prop. 3:2 of which reserved for allotment were (i) 1,23,960
shares to APIDC, (ii) 1,19,190 shares to C.V. Rao &
Associates,
(iii) 16,725 shares to IDBI and (iv) 15,000 shares to UTI.
1,74,125 shares offered to other shareholders.

1989 - Riverdale Hotels Ltd., was incorporated on 20th July, as a
subsidiary of the company. The objects of this subsidiary
were
to set up and operate hotels.

1990 - The company obtained a letter of intent to set up a new paper
manufacturing unit of 40000 TPA in Andhra Pradesh. Necessary
steps were initiated towards its implementation.

- The Company obtained a letter of intent to set up a new paper
manufacturing unit of 40,000 TPA in Andhra Pradesh.

1991 - The Company proposed to expand the installed production
capacity
from 18,000 TPA to about 40,000 TPA by installing a third
paper
machine with supporting pulp mill and utilities to
manufacture
higher quality Duplex Board.

- The Company also proposed for a second hand paper machine
which
is to be imported and the cost estimates for the same are yet
to
be finalised.

- 11% Pref. CR shares redeemed on 23.05.1991.

1992 - The Company considered setting up an integrated agro-complex
consisting of sugar, paper and industrial alcohol under one
roof
at Srikakulam district.

1993 - The Company has applied a letter of intent for setting up a
new
sugar manufacturing unit of 2,500 TCD.

1994 - The Company took up implementation of the Co-Generation
Project
involving the installation of 36 TPH Fluidised-bed High
pressure
Boiler and a 5 MW extraction-cum-condensing turbine for power
generation and to produce steam required for manufacturing
process.

- A new company under the name and style `Coastal Industries
Ltd.',
has been promoted by Coastal Papers Ltd., and incorporated on
4th
May, for undertaking the new project.

- Riverdale Hotels Ltd. ceased to be subsidiary of the Company.

1995 - The Company proposed to increase the installed production
capacity to 50,000 tonnes per annum.

- 22,50,000 bonus equity shares allotted in the ratio of 3:1.

1997 - 30,00,000 rights equity shares issued at a prem. of Rs 10 per
share in prop. 1:1
2000 - Majority of the Stake (71 % ) was taken over by The Andhra Pradesh Paper Mills Ltd from the then Promoters -D.Subba Rao and C.V.Rao

2001-Coastal Papers Ltd was merged into The Andhra Pradesh Paper Mills Ltd