History of Nestle India Ltd.
1959
- On 28th March, the Comp. was incorporated at New Delhi. The company was promoted by Nestle Alimentana S.A. through a wholly owned subsidiary, Nestle Holdings Ltd., Nassau, Bahama Islands.
1968
- 1,37,785 Bonus shares issued in proportion 1:10 on 12.9.1968.
- On November Comp. issued 3,00,000 shares at par. 22,000 shares reserved for directors, etc. & 2,78,000 shares offered to the Public.
1970
- 34,251 shares issued against machinery to collaborators.
1978
- During the period 4,00,114 equity shares & 382,751 existing equity shares held by Nestle Holdings, Ltd., Nassau, Bahama Islands [Nestles] were offered to the resident Indian nationals at a premium of Rs. 2.50 per share.
1980
- 22,50,000 bonus shares issued in proportion 1:1 on 30.7.1980.
1983
- 27,00,000 bonus shares equity shares issued in prop. 3:5.
1985
- 18,00,000 Rights equity shares issued [Prem. Rs 30 per shares; prop. 1:4s]. 4,50,000 additional shares allotted to retain oversubscription. 90,000 No. of equity shares allotted [prem. Rs 30 per shares] to employees of Comp. on an equitable basis. 60,000 No. of equity shares allotted [prem. Rs 30 per shares] to Nestle Holdings limited to maintain their shareholding.
1986
- The Shareholders approved the issue of non-Convertible debentures [IInd seriess] for an aggregate value of Rs 11.52 crores.
- 96,00,000 bonus shares issued in prop. 1:1.
1987
- During the year installation of new factory at Nanjangud [Karnatakas], for manufacture of instant coffee was in progress.
1988
- During Jan/Feb, the Comp. offered 19,35,360-12% secured redeemable convertible debentures of Rs 160 each of which 92,160 debentures were reserved for allotment to Indian working directors & employees of the company. The remaining 18,43,200 debentures were offered to the shareholders [except Nestles] of Comp. on right basis in the ratio of 4 debentures for every 25 shares of Rs.10 each of Comp. held. Additional 2,76,480 debentures were allotted to shareholders to retain over-subscription.
- As per the terms of issue, the convertible part of Rs 60 out of the total face value of each debentures of Rs 160 will be Automatically converted into one equity share of Rs 10 each as fully paid up at a premium of Rs 50 per share on 31.3.1989. The non-convertible part of Rs 100 of each debenture will be redeemed after a period of seven years from the date of allotment of debentures.
1989
- 22,11,840 No. of equity shares allotted [prem. Rs 50 per shares] in part conversion of 12% debentures. 14,74,560 No. of equity shares of allotted to retain oversubscription. 90,000 No. of equity shares allotted [prem. Rs 30 per shares] to employees of Comp. on an equitable basis. 60,000 No. of equity shares allotted [prem. Rs 30 per shares] to Nestle Holdings limited to maintain their equity shareholding.
- The name of Comp. was changed from `Food Specialities Ltd.' to `Nestle India Ltd.' on 24th March.
1990
- During the year Comp. entered into chocolate business by introducing Nestle premium chocolates.
1991
- During the year Comp. issued 10,00,000-14% secured redeemable non-convertible debentures [series PP-1s] of Rs. 100 each to Infrastructure Leasing & Financial Services Ltd., on private placement basis.
1992
- As per the term of Amalgamation scheme 100,51,850 No. of equity shares of Rs.10 each of Comp. were issued to the NFPIL share holders in the proportion of two equity shares of Rs. 10 each of the company for every thirteen equity shares of Rs.10 each held in the NFPIL.
1993
- Samalkha factory was commissioned during the year & underwent expansion for cereal based products.
- 196,07,054 shares 47,51,625 No. of Equity shares of Rs 10 each allotted to M/s. Nestle SA Switzerland to raise the stake to 51%. 128,55,429 bonus shares issued in prop. 1:4.
1994
- During the year Comp. launched a number of new products viz., Cerelac Soya, Milk maid, Dessert Mixes, Maggo Tonit Special Cooking Bases, Maggi 1-2-3 noodles, Contodina snack dressing & the chocolate items, milky base marbles & bar one peanut. And also launched, Bonus and Polo.
1995
- During the year Comp. commenced construction of new factory at Bicholim, Goa. At the same year, instant noodles factory was installed and commissioned at Samalkha factory. - During the year Comp. launched Kit Kat manufactures at the new factory at Ponda, Goa.
- During the same year the Nanjangud factory was commissioned & the unit was to manufacture MILO - the World Largest Selling Chocolate energy food drink.
- During 95-96, the Comp. issued secured redeemable non-convertible debentures of Rs. 100 each on private placement basis. i.e. 3,000,000 - 16.5 % [series PP-2s] debentures & 2,500-17.5% debentures [series pp-2s] & 2,500-17.5% debentures [series PP-3s].
- 32,138,572 bonus shares allotted in prop. 1:2.
- The Chennai-based Indian Food Fermentations tied up with Nestle India Ltd., to market its dosa & vada batter in consumer pack, in the country. The Comp. has signed an agreement to this effect recently. Nestle would sell the ready-to-use dosa, vada, sambhar & unique masala dosa batter in consumer packs, under its own brand name in the country. 1996
- During the year Comp. launched MILO-Chocolate energy food drink in South India & a range of culinary products like, Dosa & Sampar mixes, pickles & new varieties of soups under the brand 'Maggi'.
1997
- Nestle India [NILs] is raising Rs.50 crore through a non-convertible debenture issue. The issue has been rated AAA by Credit Rating and Information Services of India [Crisils], indicating the highest safety with respect to timely payment of interest & principal.
- NIL is one of top players in the processed food and beverages industry & the largest producer of instant coffee with a 49 per cent marketshare.
- After the success of KitKat & Polo, Nestle India has launched its first product in the hard boiled sugar confectionery market, Allen's Splash.
- Nestle wafer chocolate brand, Kit Kat, which created a major dent in the market with its launch, its international milk drink brand Milo has garnered a mere three per cent share [value termss] in the Rs 500 crore market, a year after its launch in India.
- Nestle India limited [NILs] leads the list of country top 15 coffee exporters for ongoing calendar year in terms of both quantum and value for period January 1 - October 23.
1998
- Swiss multinational Nestle SA has ordered an international auditing of its Indian subsidiary, which has been mired in a controversy of alleged financial irregularities & insider trading.
- Nestle SA & the BM Khaitan group set up a joint venture, Nutritional Food Products India Ltd, in 1990 which was amalgamated with NIL in 1993.
- Nestle has set up a parallel distribution network across the country.
1999
- The Comp. has also set up a special cold chain for product distribution in select retail outlets.
- Nestle India has entered into a 10-year agreement with Campco in February, 1990 for manufacture & supply of bulk quantity of chocolates & cocoa products.
2000
- Nestle is set to enter the domestic bottled water business & will launch the product under the brand name `Pure Life'.
- The Comp. has launched its ultra heat treated liquid milk, `Nestle Pure Milk', in Bangalore, Chennai, Hyderabad & Kochi.
- The Comp. has launched Perrier & will celebrate 'Perrier Invitation Golf-2000'.
- Nestle India limited to launch Nescafe Gold & Nescafe Gold Decaffeinated.
- Nestle India has launched a range of gift packs under the Fox confectionery brand name for festivel seasons.
- The Comp. launched its second premium mineral water brand San Pellegrino in India.
2001
- Nestle India limited has launched `Pure Life', its mass-market bottled water, adding one more premium brand to the already saturated Rs 600-crore bottledwater segment.
- The board of directors of Nestle India on July 27, nominated the Chairman & Managing Director of NIIT Ltd, Mr Rajendra S. Pawar, on the Comp. board with effect from October this year.
- The board of directors of Nestle India on July 27, nominated the Chairman & Managing Director of NIIT Ltd, Mr Rajendra S. Pawar, on the Comp. board with effect from October this year.
2002
-Nestle Group increases holding in Nestle India to 53.27%
-Ties up with Nilgiris to co-brand various dairy products like dahi, paneer, ghee & possibly milk
-Launches a throat lozenge branded Acti-V to compete against Proecter and Gamble Vicks cough drops
-Regains top coffee exporter positon in India
-Parson Nutritional Pvt. limited buys the assets of Excelsia Foods, including its manufacturing unit at Ghaziabad, from Nestle S.A
2003
-Rolls out Nestle Development Nutrition Plan for infant weaning & launches its infant food CERELAC 123 as a range of products graded to the needs of infants in each stage of plan
-Nestle India executive director Ranjit Raj re-elected to be the Coffee Board member representing instant-coffee manufacturers
-Nestle SA, Switzerland, buys 1.01 million shares in its Indian arm 'Nestle India'. With this purchase, the parent holding in its Indian arm goes up to 59.8 per cent from 58.7 per cent
-Consumer Body files case against Nestle India in National Consumer Dispute Redressal Commission [NCDRCs] regarding the non-compliance in weight in its 50-gm Nescafe packs
-Signs a 100 per cent buyback pact with Bengal Nestor India Ltd [BNILs] for its ultra heat treated milk & other dairy products
-Ed Marra, the head of Nestle Canadian business, will succeed Frank Cella as head of strategic business units & marketing at the turn of year, the Swiss group said in a statement.
-Paul Bulcke, now head of German operations, will replace Carlos Eduardo Represas as top executive in the Americas zone from July 1, '04.
2004
-Nestle India bags Tetra Pak annual dairy & beverage industry award
-Nestle India has signed on Bollywood actress Preity Zinta to feature in its latest commercial brand maggi
-Nestle introduces 'Sweet Lassi' in Delhi, Punjab & Haryana
-Nestle India said on June 24, 2004, it has signed Rani Mukherjee as brand ambassador for its chocolate brand Nestle Munch & the advertising campaign will be released on June 25
2005
-Neslte India launches new variant of Maggi
-Delists securities from the Delhi Stock Exchange Association Ltd [DSEs] w.e.f. July 15, 2005.
2007
- Nestle India Ltd has informed that the Board of Directors of Comp. at its meeting held on July 31, 2007, inter alia, has appointed Mr. Pradip Baijal as a Non-Executive Director of Company.
