- The company was incorporated on 22nd May, and obtained the
Certificate of Commencement of Business on 17th July, 1986. It was
promoted jointly by Usha Martin Industries Ltd. (UMI) and Bihar
Electronic Development Corporation Ltd. (BSEDC).
- The Company undertook to set up a project for the manufacture of
5,00,000 conductor kilometres (CKM) per annum of jelly filled
- The Company entered into a technical collaboration agreement with
Kabel of West Germany for technical know-how and training of Indian
technicians at the collaborator's plant.
- The Company had developed PCM system cable used for transmission
digital signals and supplied higher size cables upto 1600 pairs.
Company had also developed foam skin type cable of size 1800 x 0.4
the first time in India.
- 70 shares subscribed for by the signatories to the Memorandum of
Association. 70,99,930 shares were then issued at par out of which
following shares were reserved and allotted on a firm basis:
- (i) 16,96,930 shares to Usha Martin Industries Ltd., its
their friends, etc.;
- (ii) 18,46,000 shares to BSEDC;
- (iii) 10,72,000 shares to AEG - Kabel of West Germany and
- (iv) 7,10,000 shares to DEG of West Bermany. Out of the remaining
17,75,000 shares, 3,55,000 shares were reserved for preferential
allotment to employees, etc., but only 14,800 shares taken up. The
balance 14,20,000 shares along with 3,40,200 shares not taken up by
employees, were offered for public subscription during April 1988
were taken up).
- During May/June 1989, the company offered 14,20,000 rights equity
shares in the prop. 1:5 (All were taken up). Simultaneously, 71,000
No. of equity shares were also offered to the employees on an
basis. Only 5,200 shares taken up. Balance 65,800 shares allowed
- The Company issued 10,00,000 No. of equity shares of Rs 10 each at
premium of Rs 169 per share on preferential basis to promoters.
- During October, the Company issued 32,71,028 GDRs and these
representing 32,71,028 No. of equity shares were issued at a price
Rs 335.66 per share.
- Usha Martin Telekom Ltd., a joint venture along with Usha Martin
Industries Ltd. & Telekom, Malaysia have been providing cellular
services in Calcutta under the brand name COMMAND.
- The Company was closely monitoring the development in power sector
and was evaluating various options.
- Summit Usha Martin Finance Corporation Ltd. (Formerly Usha Martin
Finance Corporation Ltd.) became a 50:50 joint venture between Usha
Martin Group of Industries & Sumitomo Corporation of Japan.
- Other joint ventures of the company are Usha Siam Steel Industries
Ltd., Usha Martin Europe Ltd. and Usha Martin Americas Inc.
- The Company decided to spin-off the Software Division into one of
subsidiaries of the company.
- Usha Martin Industries Ltd. was merged with the company. After
amalgamation company has become a multi-divisional company, covering
the manufacture of pig iron, steel wires and wire rods, wire ropes
- 11,477,334 No. of equity shares issued to the shareholders of
erstwhile Usha Martin Industries Ltd. Pursuant to the Scheme of
Amalgamation with the Company and 13,56,200 No. of equity shares of
10 each held by erstwhile Usha Martin Industries Ltd. were
due to Amalgamation with the Company.
- Ubest a division of the Usha Beltron's Ltd. has signed an
with Swiss Telecom PTT to offer Indian cellular operators natel sim
card application platform (sicap) software product for immediate
- Usha Beltron Ltd. (UBL) was promoted jointly in 1986 by Usha
Industries and Bihar State Electronic development Corporation in
technical collaboration with AEG Kabel, Germany to manufacture jelly
filled tele-cables (JFTC).
- The company will have three major divisions-wire and wire ropes,
software and telecom.
- Crisil has downgraded the outstanding ratings of Usha Beltron Ltd.
(UBL) and also removed them from rating watch.
- The Jhawars-promoted wire rope-to-jelly filed cables firm, Usha
Beltron Ltd, is set to extend its activities into telecommunications
a big way.
- Usha Beltron's telecom foray will include extending activities to
different fields of operating, maintaining and providing
telecommunications services of all types and other value-added
and to design, instal and/or erect all types of telecommunication
network systems and enter into joint venture agreement with Indian
- Usha Beltron Ltd. of the Jhawars is all set to change its name to
Usha Martin Ltd this fiscal, according to sources in the company.
is for the second time, in a span of just one year, that the company
going to change its name.
- The company has initiated moves to restructure its international
marketing and distribution business.
- The Company embarked on creating a new cable manufacturing
at Silvassa with a capacity of 27 lckm through UM Cables Ltd., a
owned subsidiary of the company.
- The company has introduced a voluntary retirement scheme at its
and wire rope factories in Ranchi from last month. The scheme has
offered to workers and officers who are of and over forty years of
and have completed 10 years of service.
- UM Cable Ltd, a wholly-owned subsidiary of Usha Beltron Ltd.
belonging to the Rs. 1,000-crore plus Usha Martin Group, is being
launched in Silvassa, near Mumbai, to manufacture jelly-filled
- Usha Beltron Ltd. (UBL), the wire and wire ropes major of the
group, is setting up a holding company to streamline its overseas
- Usha Communications Technology, a wholly-owned subsidiary of Usha
Beltron Ltd, and Compaq Computer Corporation singed a comprehensive
worldwide solution development marketing agreement on May 7 at
Portland, Oregon, the US.
- UBL recently entered into an agreement with American Express Bank
funding worth million. The rest of the million will be
through equity expansion and bringing in a joint venture partner.
- Usha Beltron Limited, the flagship of the city-based Usha Martin
Group, is setting up a joint venture with an Australian firm to
- Usha Beltron Limited (UBL) of the Calcutta-based Jhawars have
acquired 10 per cent equity control in its Thai ropes and wire
joint venture -- Usha Siam Limited.
- Umicor, UK, a joint venture between Usha Beltron Ltd. (UBL) and
Bank, has acquired EMMC UK, a firm specialising in providing
and solutions for the wire rope industry, for .5 million.
- While software companies are making a beeline for India, Usha
Ltd. of the Jhawars is setting up a holding company - Usha
Communications Technology - for software development in the United
- The new company is being set up in collaboration with Entryline
Holdings Ltd, a Pentire group company of the UK.
- Usha Beltron Limited (UBL), the city-based Jhawar group's
has decided to enter into a 50:50 joint venture with Martin Bright
Australia to set up a Rs 40-crore special steel manufacturing
- The Usha Beltron Group of the Jhawars has flagged off a major
restructuring exercise for its global software activities by
the process to set up a new holding company in the United States by
January 2000, which is likely to be named UBEST America.
- Usha Beltron is all set to joint the big league of corporates
flourishing on growth opportunities inknowledge-based sectors such
infotech and telecom. The company has set up technical training
- The Company has approved a Scheme of Arrangement proposed to be
between company and Usha Martin Infotech Ltd, (UMIL) and their
- Usha Beltron Ltd, the flagship of the Calcutta-based Jhawars, will
issue global depository receipts (GDRs) in a couple of months.
- Calcutta-based Usha Beltron has acquired the wire rope business of
Brunton Shaw of the UK, a subsidiary of the 180-million Carclo, UK.
- The Company issued 35,00,000 Global Depository Receipts (each GDR
represented by one equity share of Rs 10 each) at a price of US.25
- Mr Pradip P. Shah, Director has resigned from the board effective
from 24th January.
-Ties up with Gustav Wolf of Germany to manufacture steel cords in
-Board approves in setting up of a Direct Reduced Iron (DRI) Plant
with the capacity of
100 KT per annum.
-Usha Beltron Ltd announces the change in management as follows:
1. Mr Biswajit Choudhuri appointed as a nominee of Unit Trust of
India on the Board of the Company in place of Mr S K Saha
2. Mr Dilip Mondal appointed as a nominee of Industrial Development
Bank of India on the Board of the Company.
-Board approves for the issue and allotment of securites on
1) 53,45,455 equity shares of Rs.5/- each of the company at a price
of Rs.33/- per share (inclusive of premium of Rs.28/- per share)
being the price which is in accordance with chapter X111 of SEBI
(Disclosure and Investor Protection) Guidelines to International
Finance Corporation, Washington.
2) 53,45,455 equity shares of Rs.5/- each of the company at a price
of Rs.33/- per share (inclusive of premium of Rs.28/- per share)
being the price which is in accordance with chapter X111 (Guidelines
for preferential issues) of SEBI ( Disclosure and Investor Protection)
Guidelines to Promoters, Promoter Group, Directors, their
relatives and associates.
3) The BOD have also decided to convene an EGM on July 18, 2002 to
consider the above matters.
-IFC signs agreement with UBL to invest Rs.120.5cr in the company.
-UMIL acquires 30,00,000 shares amounting to 9.45% voting rights on
preferential allotment basis.
- DEG financed Rs.50cr to UBL and the debt cost stands at Libor plus
275 basis points with 11 years time span.
-Purchases a wire rope plant in Dubai
-Acquisition of 49.55% stake in Usha Martin International Ltd, UK
-Ministry of coal alloted captive coal block in Jharkhand having a
reserve of more than 30 MN T and contains Grade A & B coal, which
would be required by the company for its Sponge Iron (DRI Project)
-Mr. T K Banerjee, Nominee of Life Insurance Corporation of India
resigned from the Board of Directors of the Company.
-Usha Martin executes a Business Transfer Agreement with JCT
- Usha Martin Ltd has appointed Mr. Suresh Neotia and Mr. Ashok Basu,
as additional directors of the Company with effect from May 17, 2007.
- The Company has splits its face value from Rs5/- to Rs1/-.
- Usha Martin Limited has appointed Dr. Vijay Sharma and Mr. P. K.
Jain as executive Directors on the Board of the Company.
- Usha Martin Ltd has has appointed (a) Mr. G N Bajpai as Additional
Director [non-executive & independent] with effect from March 18,
2010; and (b) Mr. Nripendra Misra as Additional Director
[non-executive & independent] with effect from March 22, 2010.
- Usha Martin Ltd has appointed Mr. Jitender Balakrishnan as
Additional Director (non-executive & independent) with effect from
June 10, 2010.