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Swaraj Engines Ltd. Company History and Annual Growth Details YEAR EVENTS 1985 - The company was incorporated on 24th September 1985, and obtained the Certificate of Business on 16th October, 1985. It manufactures & sells engines for application other than tractors. The company has been promoted jointly by Punjab Tractors Ltd. and Kirloskar Oil Engines Ltd. - Kirloskar Oil Engines, Ltd. agreed to provide know-how, design and documentation of products, process details, design of jigs, fixtures and toolings etc. to the company for the manufacture of diesel engines to be fitted in `SWARAJ' tractors manufactured by Punjab Tractors Ltd. - The company has set up plants for the manufacture of 16,000 Diesel Engines per annum. This project is based on Kirloskar know-how & technology. This is already in commercial production. 1989 - 70 shares subscribed for by the signatories to the memorandum of associations. 17,99,930 shares than issued at par of which 5,50,000 shares to Punjab Tractors Ltd. (PTL) and 3,60,000 shares to Kirloskar Oil Engines, Ltd. (KOEL) were reserved and allotted on a firm basis. Out of the remaining 8,89,930 shares, 90,000 shares were offered to the employees (including Indian working directors)/workers of the Company as also those of promoter Companies (All were taken up). The balance 7,99,930 shares were offered for public subscription during July, 1989. Additional 2,69,970 shares were allotted to retain oversubscription (1,36,500 shares to PTL and KOEL, 1,19,900 shares to public and 13,570 shares to the employees).
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