Ganesha’s take on ABB Ltd

General:

The Company was incorporated on 24th December 1949 as Hindustan Electric Company Limited. In 1965, the Company’s name was changed to Hindustan Brown Boveri Limited (HBB). Pursuant to the Scheme of Amalgamation of Asea Limited with HBB with effect from 1st January 1989, the name was further changed to Asea Brown Boveri Limited (ABB) with effect from 13th October 1989.

Flakt India Limited was amalgamated with ABB with effect from 5th October 1995.

During 1994-95, a joint venture Company – `ABB Daimler-Benz Transportation AG’ (Adtranz) was established by ABB Zurich and Daimler-Benz AG, Germany, in Germany. A subsidiary of Adtranz was incorporated in India viz. ‘ABB Daimler-Benz Transportation Limited which took over the Transportation Business of the Company effective 1st January 1996.

ABB’s power generation business was globally transferred into the new 50-50 JV with Alstom in 1999. In India the power generation business has been demerged and transferred to ABB Alstom Power India Ltd. with effect from 1st April 1999. In consideration of the transfer of the power business, each shareholder of ABB has been allotted one share in ABB Alstom Power India Ltd. for every share held in the company.

Capital:

The Authorised Share Capital of the Company is Rs.500,000,000 and the paid-up share capital of the Company as at the end of the financial year ended 31st December 1999 is Rs.414,183,560, consisting of 41,418,356 Equity Shares of the face value of Rs.10 each.

Shareholding Pattern:

Asea Brown Boveri Limited, India, is a partly owned subsidiary of ABB Asea Brown Boveri Limited, Zurich, Switzerland (ABBZH). ABBZH and Fläkt AB, Sweden, a 100 percent subsidiary of ABBZH, hold 50.99% of Equity Shares in the Company. The balance stake is held by: FIs 22.14%, FIIs 3.63%, MFs 2.32, Non-resident Individual 0.08%, Nationalised Banks 0.15%, Bodies Corporate 0.93%,Directors and their relatives 0.01%, NSDL (Transit) 1.95% and General Public 17.8%.