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- Unclaimed Dividends for 7 Consecutive Years
Praj Industries Limited,
"Praj Tower" 274 & 275/2,
Bhumkar Chowk-Hinjewadi Road,
Pune : 411057, INDIA.
Phone : 020-71802000 and
2012 - CRISIL rating 2012
CRISIL rated Praj AA/Stable for long term working capital facility and A1+ short term working capital facility.
December, 2006: Praj Stock included in Futures & Options Segment (F & O)
With effect from 29 December, 2006, Praj Equity shared are included in the F & O section.
September 2006 : 100% Acquisition of C. J. Schnieder Co. Inc. USA
Praj acquired 100% common stock of C. J. Schneider Engineering Co. Inc (CJS), a reputed Omaha-based corporation, having expertise and experience in providing detailed engineering services to the biofuel industry including ethanol plants. C.J. Schneider employs highly experienced engineering professionals with a collective experience of over 350 man years. The value of the acquisition is Rs. 22 crores.
Note: Praj subsequently divested its stake completely in the Company in March 2010)
May 2006- Preferential Allotment of Shares and Warrants
Through a notice to shareholders dated 5th April, 2006 and with consent of Shareholders in EOGM held on 2nd May, 2006, the Authorised share capital of the Company has been increased by:
- Allotment of 1,622,250 Equity Shares of Rs. 2/- each and 6,489,000 Warrants convertible to Equity Shares of Rs.2/- each within statutory period to Mr. Vinod Khosla, a renowned Silicon Valley venture capitalist.
- Allotment of 811,125 Equity Shares of Rs.2/- each to Marubeni Corporation to M/s Marubeni Corporation, Japan,a well known Japanese Conglomerate having interest in Turnkey Projects, ethanol trading, investment in ethanol plants etc.
- Allotment 811,125 Warrants convertible into Equity Shares of Rs.2/- each within statutory period to Promoters/Directors . The object of the preferential issue is to raise resources for substantially expanding the R&D facilities and resources of the Company. The Issue of Shares on Preferential basis is at a price of Rs.120.25 per share. The conversion of the warrants into equity shares too shall be done at the same price.
October, 2005 : ESOP
Announced The Company announced an ESOP scheme which enables employees to subscribe to 45,55,626 equity shares of the Company at a pre-determined price based on prescribed calculated in three tranches. So far, options of the first tranch of 17,43,000 equity shares of Rs. 2/- each (Rs. 93.30 per option) is being exercised. Of this 1/3rd were mature for conversion in October 2006. Till date 60% of options have been converted into equity. The Company has announced the second tranch of 1,176,900 equity shares of Rs. 2/- each (Rs. 185.85 per option) in December 2006, which will be due for exercise in December, 2007.
July, 2005: Sub-Division of Shares and Issue of Bonus Shares
In the 19th Annual General Meeting of Shareholders held on 23rd July, 2006, the Company recieved consent to divide the existing 18,000,000 Equity Shares of the Nominal Value of Rs. 10/-( Rupees Ten) each in the Authorised capital of the Company into 90,000,000 Equity Shares of Rs 2./- (Rupees Two ) each. Further, shareholders also gave their consent to Issue of Bonus Shares framed by Securities Exchange Board of India (SEBI), provisions of The Companies Act, 1956 (Act) and as per Article 135 of the Company's Articles of Association and upon the recommendation of the Board of Directors a sum of Rs. 81,112,520/- (Rupees Eighty one Million Hundred and Twelve Thousand Five Hundred Twenty Only) standing to the Credit of the Company's General Reserve Account in the Books of the Company as on 31st March, 2005, to be capitalised and distributed among the holders of the equity shares of the Company.