YEAR EVENTS 1982 - The Company was Incorporated on 22nd October, and the Certificate of Commencement of Business was obtained on 14th December. It was promoted by Jain Group. The main object of the company is to manufacture acrylic fibre. - The company entered into a foreign collaboration with SNIA BPD Spa, Italy (Fiat Group) to import know-how and technical documentation from them. The collaborators also agreed to contribute 2.42% in the equity capital of the company. - The Company undertook to set up a project for the manufacture of 12,000 tonnes per annum of acrylic fibre at Thakurdwara, district Moradabad in Uttar Pradesh. Land admeasuring 85 acres was acquired and adequate arrangement were made to meet the requirements of power and water. 1989 - 8,31,100 No. of equity shares subscribed for by the promoters and business associates. 300,68,900 shares reserved and allotted in the following manner: - (i) 115,63,400 shares to Indian promoters, directors etc. Nityanand Exports and Consultants Co. Ltd. and associate companies; - (ii) 35,55,500 shares to non-resident Indian promoters/person of Indian Origin residing abroad on repatriation basis; - (iii) 34,00,000 shares to PICUP and - (iv) 7,50,000 shares to the company's foreign collaborators. SNIA B.P.D. Spa, Italy on repatriable basis. - Out of the remaining 1,08,000 shares, 47,86,200 shares were reserved for pref. allotment as follows: - (i) 22,83,775 shares to the NRIs/persons of Indian origin residing abroad on repatriable basis (only 14,31,600 shares taken up); - (ii) 15,03,445 shares to employees (including Indian working directors)/workers of the company and also of promoter companies (only 1,05,700 shares taken up). - (iii) 5,00,000 shares to Canbank Mutual Fund (all were taken up). - The balance of 60,13,780 shares together with unsubscribed portions of preferential quotas of 24,98,920 shares were offered for public. Subscription during August, 16,20,000 additional shares allotted to the general public to retain oversubscription. 1990 - The Company installed capacity was raised to 15,000 tonnes per annum as against 12,000 tonnes envisaged originally in order to achieve progressively the enhanced capacity under minimum economic scale of operations announced by Govt. for acrylic fibre plants which is 20,000 tonnes per annum. The balance capacity of 5,000 tonnes were proposed to be implemented shortly. - 60,90,000 shares allotted at par to promoters on private placement basis in December. 1991 - The Company undertook a major debottlenecking programme to increase the capacity from 15,000 TPA to 18,000 TPA and installation of one additional thermostretching line to produce more high shrinkage fibre. - The Company offered 59,85,000 No. of equity shares of Rs.10 each for cash at par. Out of these, 57,00,000 shares were offered to the shareholders on rights basis in the prop. 15:100. All shares were taken up by shareholders. Additional 8,55,000 shares were allotted to retain oversubscription. Allotment of 2,544 shares was kept in abeyance. The balance 2,85,000 shares were offered to the employees (including Indian working directors)/workers of the company on an equitable basis. Only 2,01,950 shares were taken up. The unsubscribed portion was allowed to lapse. - 67,54,406 shares allotted at par as rights (prop. 15:100) and to employees. 1993 - During October, the company issued 1,81,40,000 No. of equity shares of Rs.10 each at par on rights basis in the prop. of 2:5. Only 1,81,32,120 shares taken up. Allotment of 7,880 shares kept in abeyance. 2011 -Appointment of Mr. S. Sathyamoorthy, as a Director of the Company. 2012 -Shri Rakesh Mundra has been appointed as Whole time Director Finance of the Company. 2016 -Pasupati Acrylon gets nod to enter into Flexible Packaging biz. 2019 -Pasupati Acrylon has commenced production of second line of cast Polypropylene film.