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History of IBP Comp. Ltd.

1909

- I.B.P Comp. Ltd was incorporated at Rangoon to distribute petroleum product & manufacture industrial explosive, freeze drying plant cryocontainers, L.P.G. regulators & valves & other products.

1953

- Equity shares of Rs 100 each subdivided into Rs 40 each in 1925. In 1927, 50,000 pref. shares issued.

1974

- 6,00,000 Bonus equity shares issued in prop. 3:5.

1981

- 8,00,000 Bonus equity shares issued in prop. 1:2.

1983

- Balmer Lawries & Co. Ltd is an subsidiary of company. With effect from 15th March.

- With effect from 15th March, the name of Comp. was changed from The Indo-Burma Petroleum Co. limited to IBP Co. Ltd.

1986

- 14,40,000 Bonus equity shares issued in prop. 1:2.

1988

- The one-litre capacity cryocans introduced under the brand name `Mini Wonder DS-I' met with good response.

- A memorandum of understanding was entered into with Hindustan Aeronautics, limited for technical know-how for development of Ammonia absorption refrigeration systems.

- A letter of intent was received for setting up of titanium nitride coating plant for decorative coatings at Nasik.

- Another letter of intent was received for manufacture of petrol/diesel dispensing units for use of dealers marketing petroleum products.

- Proto types of solar thermal system for medium temperature industrial applications, community solar cookers, new vacuum guages & large liquid nitrogen containers were developed.

1989

- Pref. dividends raised from 7% to 14% from 1.4.1988. During Sept.-Oct., 30,72,000 rights equity shares issued [prem. Rs 40 per share; prop. 4:5s]. Additional 3,34,312 No. of equity shares allotted to retain oversubscription. Another 1,53,600 No. of equity shares offered to employees [prem. Rs 40 per shares]. Only 1,13,592 shares taken up. The balance 40,008 shares allowed to lapse. Pref. shares redeemed on 1.4.1990.

1990

- The Comp. commissioned in collaboration with Biazzi of Switzerland, its first ever explosives accessories plant at Manesar, Gurgaon in Haryana with an installed capacity for manufacture of 15 million meters of high quality detonating fuse & 120 tonnes of cast boosters.

- The Comp. undertook to implement project at Cherlapalli in A.P., Allahabad, & Lucknow in the State of U.P. & Muzzafarpur in Bihar under the additional product tankage programme.

- A MOU was signed with Madras Refineries limited [MRLs]. As per this MOU, MRL was to establish a distillation unit at Nagapattnam in the Tanjore district of Tamil Nadu & the Comp. was to set up the marketing terminal for distribution of products from MRL unit to all oil companies.

- With a view to promote alternate fuel for motor spirit & high speed diesel, the Comp. undertook development of Compressed Natural Gas [CNGs].

1991

- The petroleum unit commissioned a mobile laboratory to carry out on-the-spot quality control tests. The Nasik unit introduced open mouth crycontainer & stainless steel cryogenic containers of 500 litre & 3000 litre capacity.

- The Comp. received Govt. clearance, the unit for development of petrol/diesel dispensing units in collaboration with well know German firm Schwelm Tanksystem GmbH went on stream by around the month April.

- A MOU was signed with the Canadian firm Fournelle Energy Technologies Inc. for manufacture of special solar panels including fabrication of community solar cookers.

- On the 15th March, a MOU was signed with Indian Oil Corporation encompassing all operational & financial conditions to enable the Company to draw supplies from IOC storage points all over the country.

1992

- During September, a MOU was signed with Caltex Petroleum Corporation, USA to set up a joint venture Comp. for manufacture & marketing of high grade lubricating oils, greases & other related products.

- The joint venture Comp. under the name `IBP Caltex Ltd.' envisions other related business subject to Government approvals, to further the Company cure business in petroleum trade.

- Also, in joint venture with the Govt. of Assam, the Company incorporated the Numaligarh Refinery Ltd., for implementing the 3 MMTPA capacity of oil refinery at Numaligarh in the district of Golaghat in Assam.

1993

- To diversify the product range facilities were added to emulsion explosives at Korba plant with technical assistance from IRECO, USA.

- During March-April, the Comp. issued 73,59,904-14% fully convertible debentures of Rs 120 each on rights basis in prop. 1 deb. : 1 equity share held [only 63,82,438 debentures taken ups]. Unsubscribed portion of 9,77,466 debentures were taken up by financial institutions.

- Another 3,67,995-14% debentures of Rs 120 each were offered to the employees on an equitable basis [only 45,250 debentures taken ups]. Unsubscribed portion of 3,22,745 debentures allowed to lapse.

- Rs 120 of face value of each debenture was to be converted into one equity share of Rs 10 each at a premium of Rs 110 per share at the end of 12 months from the date of allotment of debentures.

- Balmer Lawrie and Co., limited is a subsidiary of Comp. with a holding of 53,67,840 No. of equity shares out of 130,29,073 No. of equity shares of Rs 10 each issued.

1994

- 52 new retail outlets & 5 superior kerosene oil/light diesel oil [SKO/LDOs] dealerships were commissioned. Storage facilities for petroleum products at different locations were created. The Company commissioned storage facility for unleaded petrol at Wadala, Mumbai to promote pollution free environment.

- Four new SMS plants were set up at Kasmunda in M.P., Talcher in Orissa, Raj Mahal and Kathara in Bihar supplementing the existing plants. Facilities for manufacturing cartridged emulsion explosive were commissioned at the Korba plant.

- A MOU was signed with Indian Oil Corporation & Oiltanking GmbH, Germany for setting up independent tank terminalling services in the country through the formation of joint venture Comp. with 50% equity participation each by IOC & the Company.

- Another MOU was executed with Crest Biotech limited for utilisation of capacities of PETN unit at Manesar to manufacture & market PETN and other value added fine chemicals, drug intermediates etc.

- Numaligarh Refinery Ltd., ceased to be a subsidiary of Company.

1995

- In pursuit of marketing environment friendly fuel, unleaded motor spirit facilities at 58 retail outlets covering the metropolitan cities and national highways were commissioned.

- The facilities for shipment of white oil products from Haldia to Budge Budge by a chartered barge 'M.V. Prem Tatwa' was commissioned.

- The Comp. entered into a joint venture agreement with Oiltanking GmbH & Indian Oil Corporation for setting up infrastructural facilities for provision of terminalling services within the country.

- 2,266 shares issued.

1996

- 73,82,406 bonus shares issued in prop. 1:2. 2,530 shares issued on conversion of 14% FCD.

1997

- The Business group [petroleums] made an entry into the business of marketing Liquefield Petroleum Gas which commenced from 1st quarter of the year.

- The Company retail network was strengthened with the commissioning of five new Retail outlets & one SKO-LDO dealership. The Company started setting up of number of new Product Tankers at Haldia, Barauni, Hazira & Sidhpur.

- IBP Caltex limited [ICLs], a joint venture between public sector IBP Company limited & Caltex Petroleum Corporation of United States, will construct a world scale liquified petroleum gas [LPGs] infrastructure project at Haldia in West Bengal.

- IBP Comp. limited has identified LPG storage & marketing, setting up of oil terminal facilities & refining.

- The Comp. has entered the LPG market for first time but has long been manufacturing pressure regulators used for LPG cylinders of other public sector companies such as Indian Oil Corporation, Bharat Petroleum & Hindsutan Petroleum.

- IBP, formerly known as Indo-Burma Petroleum, opened its sixth Company-owned-Company-operated outlet in India in Bangalore.

- IBP Co limited has signed a fuel supply agreement with Hyderabad - based, VSL Power [Is] limited VSL Power, one of 10 independent power producers [IPPss] in Andhra Pradesh, is setting up 34.56 MW plant at Parwada Industrial Estate near Visakhapatnam.

- IBP-Caltex joint venture for a liquidified naptha gas [LNGs] terminal in Haldia has developed early snags over fund mobilisation by the promoters.

- IBP Comp. limited has singed a fuel supply agreement with Sree Rayalaseema Alkalies & Allied chemicals limited of Kurnool for their 27.8 MW independent power plant at Tagginabudhihal in Bellary District in Karnataka.

1998

- Business Group [Engineerings] of IBP Comp. Limited has been awarded ISO 9001 certificate for quality management system for design development, manufacture & repairs of cryocontainers 1998 by bureau quality international [BVQIs] in an impressive function at Nasik plant premises.

- The Comp. also launched two new products, IBP Cool [radiator coolants] & IBP DOT-3 [heavy duty brake fluids].

1999

- Bharat Petroleum Corporation & IBP are close to finalising a unique product assistance agreement, which will mark the beginning of a long-term relationship in the oil sector.

- IBP Co Ltd, the public sector petroleum product marketing company, has launched what it calls Highways Club under which select retail outlest are being identified for upgradation to provide a wide range of improved services mainly to truck operators travelling on the major trade-linkage routes.

- IBP has indicated that it will abide by same terms of the marketing pact signed between IOC & RPL.

- Public-sector oil firm IBP limited has entered into an import facilitation agreement with aluminium major Indian Aluminium Ltd [Indals], in an effort to provide direct marketing facilities for its consumers.

- The Comp. is likely to enter into agreements with the Indian Oil Corporation & the Hindustan Petroleum Corporation for product assistance & hospitality at various locations on reciprocal terms and conditions.

- IBP Co. Ltd lubricating oil blending plant at Budge Budge has received the ISO 9002 certificate, from the Bureau of Indian Standards accredited by Raadvoor Accreditatic, Netherlands, for its commitment to quality & customer satisfaction.

- IBP, is the only marketing Comp. that doesn't have any presence in the refining segment, except for a part ownership of new Numaligarh Refineries limited [NRLs].

2000

- The Comp. has signed a memorandum of understanding [MoUs] with the Ministry of Petroleum & Natural Gas for financial year 2000-2001.

- IBP Co. Ltd proposes to enter into an arrangement with Hindustan Petroleum Corporation Ltd for sourcing petroleum products for marketing in certain parts of western region.

2001

- The process of partial divestment of Centre stake in IBP and Co Ltd will be over by November 30 or latest by December 31 this year.

2002-IBP alliance with Cummins Auto Services [CASLs] to provide solutions for commercial vehicles on national highways.

2002

-IBP Share prices shot up to Rs.466 per share with nearly 4% of Liquid stocks on the NSE & Rs.463 on BSE.

-IBP has got rid of its debt after it repaid its outstanding of Rs. 440.86cr

-The scheme of Arrangement & Reconstruction between the IBP Ltd & Balmer Lawrie Investments Ltd has been sanctioned by Department of Comp. Affairs.

-Mr.S.N.Mathur, the Chairman of IBP Comp. Lts has resigned since its acquirer IOC has decided to form a new board at IBP Ltd.

-IBP Comp. Ltd tied up with Cummins Auto Services Ltd to provide solutions for commercial vehicles on national highways.

-IBP Co. Ltd has signed a Memorandum of Understanding with Kerala Tourism Department for joint development & promotion of tourism & associated facilities in the state.

-IBP Co Ltd, a subsidiary of IOC has tied up with IFTEX Petrochemicals Ltd to market fuel additives & car care products through IBP retail outlets.

-IBP Co Ltd has joined branded fuel race with thee introduction of its premium branded petrol under the name Josh.

2003

-IBP has put in place a fleet management & control systems to get a larger share of the transport sector.

-IOC branded fuels of premium & diesel super will be sold by IBP Ltd through its retail outlets.

2004

-IBP join hands with overseas players to improve cryogenics biz

-Govt. comes out with Offer for Sale of 57.58 lakh shares at a price of Rs 620 per share

-The government of Singapore Investment Corporation has acquired 6.014 per cent about 1,331,942 equity shares in IBP Co

- N G Kannan appointed as new Managing Director of IBP Co Ltd

- Petronet LNG Ltd enters into Memorandum of Collaboration with IBP Comp. Ltd on August 25, 2004 for development of LNG distribution business through cryogenic technology under the concept of 'The Virtual Pipeline'.