HPL Electric & Power Share price

The Company was incorporated as ‘HPL-Socomec Private Limited’ on May 28 1992 a private limited company under the Companies Act 1956 with the RoC. Pursuant to a resolution of the Board of Directors dated January 21 2010 and a resolution of the shareholders dated February 18 2010 the name of the Company was changed to HPL Electric & Power Private Limited and a fresh certificate of incorporation was issued upon change of name by the RoC on March 10 2010. Further pursuant to conversion of the Company to a public limited company the name was changed to ‘HPL Electric & Power Limited’ and a fresh certificate of incorporation consequent upon such change of name was issued by the RoC on December 14 2015. The Company was formed pursuant to a joint venture agreement dated October 24 1991 between Socomec and Havells Electronics Private Limited (the ‘Havell’s’ trademark is a property of Havell’s Industries (now Havells India Limited) and we the Promoters and members of the Promoter Group are not associated in any manner with Havells India Limited or its promoters) for the purpose of manufacturing and marketing on-load change over switches and allied electrical accessories made by Socomec manufacturing and exporting components to Socomec. Subsequently the Promoters Mr. Lalit Seth and HIL and members of the Promoter Group Ms. Praveen Seth Mr. Gautam Seth and Mr. Rishi Seth acquired the entire shareholding of Socomec in the Company pursuant to share transfers. Major Events :1992-Incorporation of the Company under the Companies Act 1956 pursuant to a joint venture agreement dated October 24 1991 between Socomec and Havells Electronics Private Limited (the ‘Havell’s’ trademark is a property of Havell’s Industries (now Havells India Limited) and we the Promoters and members of the Promoter Group are not associated in any manner with Havells India Limited or its promoters).1998-Commencement of production of electronic/static energy meters at the factory situated at Gurgaon Facility I2008-HPTL Scheme of Amalgamation pursuant to which the Company acquired the lighting equipment business-Commencement of production and manufacture of lighting equipment at the Sonepat Facility2010-Change of name of the Company from HPL-Socomec Private Limited to HPL Electric & Power Private Limited-Commencement of production and manufacture of meters at the Gurgaon Facility II2011-Commencement of production and manufacture of switchgears at the Kundli Facility2014-Commencement of the production of wires and cables at the factory located at the Gharaunda Facility2015-Conversion of the Company into a public limited company-Commencement of manufacture of LED products-Settlement with Socomec pursuant to which the promoter and promoter group acquired the entire shareholding of Socomec in the Company2016-Acquisition of Himachal Energy upon conversion of 15000000 optionally convertible debentures of Himachal Energy held by the Company pursuant to which Himachal Energy became a 97.15% owned subsidiary of the Company.