YEAR EVENTS 1978 - Uma Maheswari Mills Limited (UMM) was incorporated at Salem. The Main Object of the Company is Spinning of Cotton and polyester fibre yarn and ginning.

- Out of the total shares issued 1,44,000 shares offered for public subscription through a prospectus dated 21.11.1978.

1985 - With a view to modernisation, the Company installed 1 Murata Auto Coner in replacement of old machines with the financial assistance from IDBI.

- As a part of the expansion programme, the company added 1 Lakshmi speed frame and 2 Lakshmi-Rieter ring frames during the year. The installed capacity was raised to 9,120 spindles.

1986 - 1 Lakshmi-Rieter silver lap machine, 1 Lakshmi-Rieter ribbon lap machine, 3 Lakshmi-Rieter combers, 2 Lakshmi-Rieter draw frames, 1 Lakshmi-Rieter ring frame and 1 RJK cone winder were added as a part of its expansion programme.

1987 - The Lakshmi-Rieter ring frames, one card, two draw frames, one comber and one cone winder were added as per Company's expansion programme.

1993 - 2,40,000 bonus shares issued in propn. 1:1.

1994 - 9,60,000 bonus equity shares issued in propn. 2:1.

1995 - The overall working resulted in a loss due to unremunerative yarn prices, hike in input costs and strike by workmen. The lock-out was lifted effective 15th July, 1996.

- The company issued 14,40,000 rights equity shares of Rs 10 each at a premium of Rs 10 per share and in proportion 1:1 (all were taken up). Simultaneous to the above issue, the Company offered 6,20,000 shares through a prospectus as follows:

- 2,90,000 shares of Rs 10 each at a premium of Rs 60 per share on firm allotment basis as follows: (i) 80,000 shares to IDBI; (ii) 40,000 shares to Indian Overseas Bank; (iii) 40,000 shares to Apple Mutual Fund; (iv) 35,000 shares to GIC Mutual Fund; (v) 40,000 shares to Indian Bank Mutual Fund and (vi) 55,000 shares to NRIs/OCB. Balance 3,30,000 shares were issued to the public at a premium of Rs 5 per share (all were taken up).