Sintex Industries Ltd

Sintex Industries Recommends Dividend Of Rs 0.70 per share The board of Sintex Industries in its meeting held on 07 May 2013 has recommended dividend Rs 0.70 per equity share for the year 2012-13.

Sintex Industries - Board Considered Dividend On 07 May 2013 The board meeting of Sintex Industries will be held on 07 May 2013 for considering the audited financial results and recommeded of dividend for the financial year ended 31 March 2013.

Sintex Industries` director passed away Sintex Industries has announced that Rooshikumar Pandya, independent director of the company has ceased to be a director with effect from 13 April 2013 on account of his sudden demise.

Sintex Industries Redeems FCCBs Aggregating US$ 291 Million On Due Date Net debt to equity to decline to 0.80 post redemption Sintex Industries has announced redemption of US$ 291 million foreign currency convertible bonds (FCCBs) on due date, despite tough liquidity conditions persisting in the macro environment, thereby reinstating confidence of shareholders and well wishers in the company and its management. The company had issued FCCBs aggregating US$ 225 million on 12 March 2008, each bond having face value of US$ 100,000. The zero-coupon bonds were to be redeemed at a premium of 29.28% on 13 March 2013. The redemption was achieved through a prudent mix of step down coupon FCCBs aggregating US$ 140 million, a QIP, internal accruals and preferential warrants to promoters. The fresh FCCB issue was fully subscribed. This reflects the investor`s confidence in the robustness of the company`s business model and trust in the management to deliver against all odds. The preferential warrants will increase the equity capital to approximately Rs 32.95 crore, and the promoter`s holding in the company to 39.33% after conversion of warrants.

Sintex Industries issues step down foreign currency convertible bonds Sintex Industries has announced that pursuant to the resolution passed by the security issue and allotment committee on 28 November 2012, the company has allotted USD 140 million 7.5 per cent step down foreign currency convertible bonds due 2017, convertible into fully paid up equity shares of the company at Rs 75.60 each (or such revised conversion price in accordance with the terms and conditions of the FCCBs and applicable laws). The FCCBs will be listed on the Singapore Exchange Securities Trading and are being utilised towards redemption or prepayment of the foreign currency convertible bonds issued in 2008.

Sintex Industries allots warrants On preferential allotment basis The committee of Sintex Industries in its meeting on 22 November 2012 has allotted 3,00,00,000 warrants to promoters/ promoter group on preferential allotment basis at a price of Rs 69.01 per warrant with Rs 17.26 per warrant, being 25% of the consideration payable up-front. The warrants are convertible into equity shares of Re 1 each within 18 months period from the date of allotment in terms of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (as amended).

Sintex Industries allots equity shares The committee of Sintex Industries in its meeting on 16 November 2012 has allotted 26,519,114 equity shares having a face value of Re 1 each at a price of Rs 65.90 per equity share against receipt of full payment of application monies in the escrow account for an aggregate value of Rs 174.76 crore to qualified institutional buyers.

Sintex to raise up to USD 150 million through FCCBs Sintex Industries has launched an issue of up to USD 150 million Step Down Foreign Currency Convertible Bonds due 2017 direct, unconditional, unsubordinated and (subject to the conditions of the negative pledge) unsecured and unrated convertible bonds due 2017. The net proceeds from the offering of the bonds will be used to repurchase or repay the outstanding principal, accrued and unpaid interest on the foreign currency convertible bonds issued in 2008, in accordance with applicable Indian laws and regulations. The bonds will be convertible into equity shares of the company having a face value of Re 1 each.

Sintex Industries announces closing of QIP of equity shares The committee of Sintex Industries in its meeting on 12 November 2012 has decided to close the issue and has accorded its consent for the issue of up to 26,519,114 equity shares at a price of Rs 65.90, for an aggregate value of Rs 174.76 crore (including Rs 172.11 crore towards share premium), in accordance with the terms and conditions of the placement document dated 12 November 2012 and the provisions of chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. The issue was carried out in accordance with the resolution passed by the shareholders of the company at its Annual General Meeting on 17 September 2012.

Sintex Industries to convene EGM On 09 November 2012 Sintex Industries has announced that the extraordinary general meeting of the company will be held on 09 November 2012.

Sintex Industries to issue warrants On preferential allotment basis The board of Sintex Industries in its meeting on 11 October 2012 has approved to issue up to 3,00,00,000 warrants having face value of Re 1 each to promoters of the company on preferential allotment basis. The board has approved to re-classify the un-issued preference share capital of Rs 15 crore divided into 15,00,000 preference shares of Rs 100 each into 15,00,00,000 equity shares of Re 1 each in the authorized share capital of the company which is at present Rs 65 crore comprising 50,00,00,000 equity shares of Re 1 each and 15,00,000 preference shares of Rs 100 each, so that the authorized share capital after such reclassification stands at the same level of Rs 65 crore comprising 65,00,00,000 equity shares of Re 1 each. Further, the board has decided to convene extraordinary general meeting on 09 November 2012 for seeking approval on above matters.

Sintex Industries to hold board meeting On 11 October 2012 A meeting of the board of Sintex Industries will be held on 11 October 2012 to consider un-audited financial results of the company for the second quarter ended 30 September 2012 & also to consider proposed preferential allotment of warrants to promoters of the company.

Sintex Industries to raise funds The board of Sintex Industries in its meeting on 11 August 2012 has approved an issue of FCCB`s/ GDRs/ ADRs aggregating upto USD 225 million and/or equity shares/ non convertible debt instrument along with warrants to qualified institutional buyers not exceeding Rs 600 crore, in terms of SEBI guidelines and other applicable rules & regulations.

Sintex Industries to hold board meeting On 11 August 2012 A meeting of the board of Sintex Industries will be held on 11 August 2012 to consider a proposal to issue FCCB`s/ADRs/GDRs/QIP.

Sintex Industries recommends dividend Of Re 0.65 per share The board of Sintex Industries in its meeting on 10 May 2012 has recommended dividend at the rate of Re 0.65 per equity share.

Sintex Industries to announce Q3 results Board meeting on 13 January 2012 The board meeting of Sintex Industries will be held on 13 January 2012 to consider the un-audited financial results for the third quarter ended 31 December 2011 (Q3).

Sintex Industries to announce Q2 results Board meeting on 10 October 2011 The board meeting of Sintex Industries will be held on 10 October 2011 to consider the un-audited financial results for the second quarter ended 30 September 2011 (Q2).

Sintex Industries to announce Q1 results Board meeting on 11 July 2011 The board meeting of Sintex Industries will be held on 11 July 2011 to consider the un-audited financial results for the first quarter ended 30 June 2011 (Q1).

Sintex Industries recommends dividend Of Re 0.65 per share The board of Sintex Industries in its meeting on 30 April 2011 has recommended dividend at the rate of Re 0.65 per share for the year 2010-11.

Sintex Industries to consider dividend Board meeting on 30 April 2011 The board meeting of Sintex Industries will be held on 30 April 2011 for consideration of audited financial results for the financial year ended 31 March 2011 and to consider recommendation of dividend, if any.

Sintex Industries to issue equity shares Under ESOS The committee of Sintex Industries in its meeting on 01 March 2011 has approved to issue 77,000 equity shares of Re 1 each to eligible employees of the company.

Sintex Industries to announce Q3 results Board meeting on 13 January 2011 The board meeting of Sintex Industries will be held on 13 January 2011 to consider the un-audited financial results for the third quarter ended 31 December 2010 (Q3).

Sintex Industries` subsidiary to acquire 30% equity in Durha Constructions Pvt Ltd Signs a definitive agreement Sintex Industries has announced that the company`s wholly owned subsidiary, Sintex Infra Projects has signed a definitive agreement with Durha Constructions Pvt Ltd to acquire 30% ownership of the company. As a part of the agreement that is inked with the current owners of DCPL, Sintex will be able to acquire majority ownership of the company on pre-agreed terms on closing of current financial year, FY 2011. The primary businesses of Sintex are building products, custom moldings and textiles. This investment shall help Sintex to grow and strengthen its monolithic and prefab business and also building an active presence in the Infrastructure sector, particularly the Engineering, Procurement and Construction (EPC) business that throws tremendous opportunities with robust growth In Indian economy. Sintex has a long history of building successful strategic partnerships and alliances. After the strategic investment by Sintex in DCPL, the company shall continue to be run by the existing management and help Sintex enhance its execution capabilities in Building solution segment besides other infra projects. Sintex shall play the role of a strategic partner and help the company on various strategic, governance and investment resources matters. The company made this announcement on 13 December 2010.

Sintex Industries to announce Q2 results Board meeting on 11 October 2010 The board meeting of Sintex Industries will be held on 11 October 2010 to consider un-audited financial results for the second quarter ended 30 September 2010 (Q2).

Sintex Industries to announce Q1 results Board meeting on 12 July 2010 The board meeting of Sintex Industries will be held on 12 July 2010 to consider the un-audited financial results for the first quarter ended 30 June 2010 (Q1).