SAREGAMA

In 1946, the company was incorporated as of 13th August, and it was a subsidiary of The Gramophone Company Ltd., England (parent company). Also, the parent company established its Indian branch in 1901 and set up a factory in Calcutta for manufacturing records and gramophones in 1907. Its factory is located at Dum Dum, Calcutta and was established in 1928. Also, the products manufactured were marketed under the trademarks "His Master's Voice" and "Columbia." Its parent company also carried on business in India until 1st July 1964 and also purchased and also acquired appropriate assets of the parent company's branch in India as a profitable concern. Also, the parent company is itself a subsidiary of Electric & Musical Industries Ltd., England, also known as EMI worldwide. Its main objective is to manufacture, sell and deal in gramophone records, radiograms, radio receivers, record players, pick-up cartridges, record producers, components and accessories thereof and the other allied products. Its factory is also situated at Dum Dum, Calcutta, where the parent company's factory was located. It is mostly up-to-date in all manufacturing techniques (especially in the field of gramophone records) and is also largely air-conditioned. It also maintains recording studios and distribution depots of its own in Calcutta, Mumbai, Delhi, and Chennai for the gramophone records and the other products. Also, the two Industrial Licences granted to the parent company for the manufacture of:

• 24,000 radio receivers per annum.
• 36,000 4-speed mains and 4-speed mains and battery operated record playing decks and battery-operated record reproducers p.a. were transferred in the company name.

Some of the Milestones:

• 1968:
• In May, it obtained another license to increase the annual capacity for the manufacture of the radio receivers from 24,000 to 40,000.
• Also on, 30-6-1968, all shares were held by the Gramophone Co. Ltd. The U.K. and its nominees.
• About 1, 50,000 shares were issued in December, (prem. Rs.5 per share); and 10,000 shares were reserved for directors and more. Also, 1, 40,000 shares were offered to the public.
• 1969: It entered into a technical collaboration agreement with Electrical & Musical Industries Ltd., England (EMI) that expired on 30th June.
• 1971: About 1, 50,000 shares were issued (prem. Rs.8 per share), and 37,500 shares as rights in prop. 1:8 to Indian shareholders; and 15,000 shares to employees and artists and 97,500 shares to the public.
• 1976: About 4, 50,000 Bonus shares were issued in prop. 3:5.
• 1977: It also ceased to be a subsidiary of the Gramophone Company Ltd., U.K., after the shares were issued to the Indian nationals via a prospectus in February. Also, the Gramophone Company Ltd., England and its nominees hold 7, 20,000 shares of the being issued by the company.
• 1983:
• Also, a letter of intent was received to set up a plant for the manufacture of 1000 million running meters p.a. of 1/4% magnetic tape.
• It also entered into a collaboration agreement with Capital Magnetic Products Inc., U.S.A., for offering the technical know-how for the project. Also, a license for importing major capital equipment was obtained. But, setting up a plant for the manufacture of audiotapes alone was not found viable.
• 1984: Also, the losses increased due to the sharp drop in record sales, and discounts paid to dealers, and also the reduction in the selling price of records for arresting the further decline in sales.
• 1985: It also applied for an increase in its licensed capacity for the manufacture of cassettes from 1.8 million p.a. to 10 million p.a. Also, the letter of intent for this expansion was received, and the expanded plant was being commissioned in February.
• 1986: About 8, 13,195 shares were issued at par on the part conversion of 13.50% debentures. Also, another 17, 54,141 shares were issued at par.
• 1987: It came under the provisions of the Sick Industrial Companies (or SP) Act. 1985 and as per its needs, a reference to the Board for Industrial and Financial Reconstruction was being made.
• 1988: About 18,996 no. of equity shares were issued at par.
• 1992: About 4, 46,712 no. of equity shares were allotted as fully paid up according to a contract without payments received in cash.
• 1993: It also set up two upmarket retail shops as a part of its plan to set up a chain of upmarket music marts, and it acted as a catalyst to an overall enhancement in the retail environment.
• 1994:
• Also, a new brand `Sheer magic' was launched that contained digitally remastered music recorded on the high quality imported magnetic tape.
• About 20, 00,000 no. of equity shares were issued via the conversion of certain debentures, loans, and more according to the order of BIFR.
• 1995:
• It entered into the FM broadcasting business having obtained time slots in Calcutta and Goa radio stations.
• It agreed with Gramco Music Publishing Private Limited (or GMPPL) to acquire 30% of its equity and takeover full management control.
• 1996:
• It acquired the entire equity of Gramco Music Publishing Ltd (or GMPL) which is currently, a wholly-owned subsidiary.
• It also acquired the entire equity of INR 130 of its wholly-owned subsidiary for the export operations, namely, RPG Music International Ltd. (or RMIL).
• 1997:
• It also entered into a licensing agreement with RMIL that allowed them to use copyrights of the company in the international market for the marketing music cassettes, compact discs, and more on payment of license fees to the company.
• It launched its first in-house production Bada Din directed by Anjan Dutt.
• 1999:
• It set up a UK subsidiary that will float equity shares abroad and get listed on the London OFEX, the British bourse for the mid-cap companies.
• GCIL or The Gramophone Company of India Ltd was floating a new brand parallel to HMV.
• 2001: The RPG group company decided to transfer and merge its UK-based subsidiary Saregama Plc and the Mauritius-based RPG Global Music Ltd.
• 2003: Also, the BOD appointed Mr. Dilip R Mehta as an Additional Director, in the capacity of Managing Director of the company replacing Mr. Abhik Mitra.
• 2004:
• It ties up with Color Chips Ltd. for production, distribution, marketing and sale of the album Hanuman Chalisa.
• Also, the Blue Niles Holdings Limited declared that they had acquired 1, 09,560 equity shares of about 1.17% of the issued capital of Saregama India Limited.
• 2005:
• It allied with MGM Studios.
• It also issued the rights in the ratio of 4:7.
• 2006: Subroto Chattopadhyay was appointed as the Managing Director of the company.
• 2008: It also declared a dividend at the rate of 10%.
• 2009: Tony Paul was appointed as the Company Secretary and Head Legal.
• 2011: Pradip Kumar Khaitan was appointed as an Independent Director of the Company.
• 2012: G. B. Aayeer was appointed as the 'Manager' of the company.
• 2013: The Board recommended a dividend of Re. 1.50 equity share of INR 10 each.
• 2014: The Board recommended a dividend of INR 1.50 equity share of INR 10 each (i.e.15%).