SHREE RENUKA SUGARS Share price

The Company was originally incorporated as Shree Renuka Sugars Limited vide certificate of incorporation no. 08-19046 dated October 25 1995 with Registrar of Companies Karnataka at Bangalore and received the certificate for commencement of business on January 5 1996.HISTORY AND OTHER CORPORATE MATTERSOVERVIEWThe Company was originally incorporated as Shree Renuka Sugars Limitedvide certificate of incorporation no. 08-16046 dated October 25 1995with Registrar of Companies Karnataka at Bangalore and received thecertificate for commencement of business on January 51996.The key events in the business of our Company are as follows:Year Milestone achieved1998 Acquisition of assets of Nizam Sugars Limited Our Company bought over the sick unit (sugar mill) from Nizam Sugars Limited with an existing capacity of 1250 TCD and land admeasuring 135.552 acres situated at Sudhanagar Sugar Unit Parigi Mandal near Hindupur Ananthapur District Andhra Pradesh. At) the land buildings plant and machinery along with the employees were taken over by our Company.1999 Shifting of plant from Hindupur to Munoli and enhancement of capacity Our Company subsequent to purchase of the mill from Nizam Sugars Limited transferred all the plant and machinery along with the employees to the Munoli Unit at Belgaum and enhanced the capacity to 2500 TCD.1999 Commencement of commercial production We started our commercial production of sugar at the Munoli unit. We entered into a power purchase agreement with the Karnataka Electricity Board for sale of surplus electricity being 7.55 MW for an initial period of 10 years from the date of commercial production and a renewal period of 20 years at the rate of Rs. 2.25 per kilowatt hour with escalation at the rate of 5% per annum.2000 Commencement of 11.2 MW cogeneratlon plant We commissioned a 11.2 MW cogeneration plant for producing electricity from the Bagasse2002 Commencement of 60 KL distillery at Munoli in Karnataka We installed a distillery with a capacity of 60 KL at our Munoli unit for manufacture and production of Ethanol.2003 Increase in co-generation capacity to 20.5 MW and setting up 250 TPD sugar refinery at Munoli We increased our co-generation capacity of power from 11.2 MW to 20.5 MW by adding an additional turbine and boiler. We also installed a sugar refinery at our Munoli unit with a capacity of 250 TPD.2004 Expansion of refinery capacity to 1000 TPD Subsequent to the installation of the 250 TPD sugar refinery and successful operation we expanded the capacity to 1000 TPD2004 Lease for operation of Unit II at Ajara in Maharashtra Our Company vide a lease agreement with Ajara Shetkari Sahakari (a co-operative sugar factory) Sakhar Karkhana Limited dated October 29 2004 leased the sugar factory at Ajara in Maharashtra with a capacity of 2500 TCD for a period of two years until September 26 2006.2004 Setting up subsidiary in Dubai We incorporated and registered Renuka Commodities DMCC as a Company in the Free Trade Zone in Dubai United Arab Emirates to carry on the business of wholesale trading of sugar in the International market.2005 Lease for operation of Unit III at Mohannagar in Maharashtra Our Company vide a lease agreement with Mohanrao Shinde Sahakari (a co-operative sugar factory) Sakhar Karkhana Limited dated July 2005 leased the sugar factory at Mohannagar village of Taluka Miraj District Sangli in Maharashtra with a capacity of 2500 TCD for a period of six years for the entire crushing season of 2005-2006 to end of crushing season 2010-2011.2005 We have entered into a memorandum of understanding (MoU) with Haripriya Sugar Works Limited to acquire all assets (excluding receivables) of Haripriya Sugar Works Limited (Haripriya Sugar) including land admeasuring 162 acres and 29 guntas situated at village Burlatti (old Kokantur) Taluka Athani District Belgaum Karnataka for a sum of Rs. 40 million. For details see "Objects of the Issue" on page 29 of this Red Herring Prospectus.Changes in Registered Office of the CompanyThe table below shows the changes in the Registered Office of theCompany since incorporation:Previous Address New Address 1438/2 Kalmath Road BC 105 Havelock RoadBelgaum - 590 002. Cantonment Belgaum - 590 001.Reasons for Change in Office Date of ChangeShifting of operational office February 23due to expansion of facilities. 1996.Form 18 dated February 23 1996 for the change in address of theRegistered Office has been filed with the Registrar of CompaniesKarnataka at Bangalore.