Nijjer Agro Foods

Videocon International VIDEOCON INTERNATIONAL, the flagship company of the Videocon group, promoted in 1985 by the Dhoot family for manufacturing and selling colour TVs, TV components and cabinets, is making a public issue of 20,45,455 fully convertible debentures bearing interest at 12.5 per cent per annum aggregating Rs 45 crore. The purpose of the issue is part financing the company's Rs 63.61 crore expansion plans. The issue will open on February 25. Each debenture will be of a face value of Rs 220 and shall consist of two parts: part I Rs 110 and part II Rs 110, Part I representing Rs 110 will be converted into one fully paid-up equity share of the face value of Rs 10 at a premium of Rs 100 on the expiry of six months from the date of allotment. Part II will be converted into one fully paid-up equity share of Rs 10 at a premium of Rs 100 on the expiry of 18 months from the date of allotment. The Videocon group has diversified its operations from electronic entertainment products to consumer durable products such as programmable washing machines. For this the group promoted a new company in the name of Videocon Appliances. Enthused by the market response to its products and acknowledging the need for increasing indigenisation, in 1989 the company planned a major expansion-cum- diversification programme for manufacturing colour TVs, black and white picture tubes, major electronic components and audio systems, etc. The company manufactures its colour TVs and electronic tuners and EHT transformers to the designs/specifications of Toshiba Corporation of Japan. The company has set up a project at Gandhinagar for manufacturing 8 lakh black and white TV tubes and is now planning to set up an assembly line to manufacture 6 lakh black and white TVs. The company also proposes to set up facilities for manufacturing moulding tools and moulded plastic products. These facilities are expected to reduce cost of components, reduce the time involved in import and procuring locally, and simultaneously improve quality thereof.