| YEAR EVENTS
1984 - The company was incorporated on 6th January at Hyderabad. The
company was promoted by the Priyadarshini group in association
with Andhra Pradesh Industrial Development Corporation (APIDC)
and technocrats. The main objective of the company is to
manufactures sewing, embroidery and industrial threads.
1985 - 64 shares subscribed for by the signatories to the Memorandum of
Association. 13,29,936 shares then issued at par of which
5,79,936 shares to promoters, directors, etc. and 1,00,000 shares
to APIDC were reserved and allotted. Out of the remaining
6,50,000 shares, 66,500 shares were reserved for preferential
allotment to employees/workers. (Only 3,600 shares taken up).
The balance 5,83,500 shares, along with 62,900 shares not taken
up by employees were offered to the public in October 1985.
3,32,500 additional shares allotted to the public to retain
oversubscription.
1987 - An expansion-cum-diversification programme was sanctioned by the
financial institutions.
1989 - The said expansion-cum-diversification scheme could not be fully
implemented due to prevailing unfavourable market conditions.
1990 - The Company came under the provisions Sick Industrial Companies
(Sp. provisions) Act 1985 and a reference was made to the Board
for Industrial and Financial Reconstruction (BIFR) with a
scheme of revival. As per BIFR revival scheme, the promoters
brought in Rs. 40 lakhs towards expansion.
1994 - 10,07,800 No. of equity shares on conversion of loan allotted to
friends and associates of directors who promoted unsecured loans.
2012
-Company has changed its name from Priyadarshini Thread Ltd. to Indovation Technologies Ltd.
2014
-Indovation Technologies Ltd has informed that "Symetric Life Sciences Pvt Ltd" for acquisition of 100% stake in the said Company
--Indovation Technologies Ltd has been entered into for acquisition of 100% stake in Sristek Clinical Research Solutions Ltd.
2015
-Indovation Technologies "MOU with MIC Electronics Ltd. Strategic Alliance Partner for LED Lighting & LED Range of Products".
2016
-Indovation Technologies Ltd, engineering based company, has signed a Memorandum of Understanding (MOU) with U.P. Industrial Consultants Ltd (UPICO)
|