Ushdev International Ltd

Ushdev International Ltd

Ushdev International Ltd (Formerly known Ushdev Trade and Finance Limited) a part of Ushdev Group was formed on May 18 1994. The Company is engaged in Metal Trading and Wind Power Generation business. The Company is having a total capacity of 28.3 MW wind power generation with 23 wind generators spread across 5 States i.e. Tamil Nadu Rajasthan Karnataka Gujarat and Maharashtra.UTAF came out with its maiden public issue of 17.5 lac equity shares aggregating Rs 1.75 cr in Dec.'94. It has executed orders worth for 100% cotton terry towels valued at Rs 9 cr. The subsidiary is being engaged in the business of investments in securities. In 1996-97 the company set up a 100% wholly owned subsidiary in the Caymann Islands named Ushdev International (Cayman) Ltd with the approval of RBI. It has also commissioned a 2.5 MW Wind Mill Project for generating electricity at Naranapuram in Tamil Nadu.The Company had commissioned in March 1997 a Wind Mill project for generation of electricity having capacity of 2.53 M.W. comprising of 11 E-30 230 KVA Wind Energy Converters (WEC's) costing Rs 15 Crore in Dist. Periyar in the State of TamilNadu. It commissioned a new wind mill project in Dharapuram Taluk Erode Dist. comprising of 2 Enercon make E-48 WEC's of 800 KVA each totaling 1.60 MW costing Rs 7.80 Crores during 2004-05. During the year 2012-13 the Company sold its first project i.e. Tamil Nadu 1 consisting of 11 wind mills aggregating to 2.53 MW and the total installed capacity reduced to 28.30 MW. The Company had 2 wholly owned foreign subsidiaries viz. UIL (Singapore) Pte Ltd and UIL Hong Kong Limited. However the Company sold aforesaid subsidiaries to UD Trading Group Holding Pte Ltd or its nominess in whole or in tranches. As on date the shareholding of the Company diluted in UIL (Singapore) Pte Ltd and UIL Hong Kong Limited and therefore they ceased to be subsidiaries of the Company during the year 2013-14. Ushdev Steel Private Limited ceased to be subsidiary of the Company upon fresh allotment of shares by it on 12th February 2015.