General:
- The Company was incorporated on 24.12.1949 as The Hindustan Electric Company Limited.
- On 24.09.1965, 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, with effect from 13.10.1989.
- Effective 16.04.2003, the name was further changed to ABB Limited.
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 divided into 212,500,000 Equity Shares of Rs.2/- each and 750,000 – 11% Redeemable 10 years, Cumulative Preference Shares of Rs.100/- each.
The Issued, Subscribed and Paid-up share capital of the Company, as at the end of the financial year ended December 31, 2007, is Rs.423,816,750/-, consisting of 211,908,375 Equity Shares of the face value of Rs.2/- each.