TCI Industries Ltd., incorporated in 1958 as Transport Corporation of India, TCIL was then taken over by Transport Corporation of India Pvt Ltd in 1965. Subsequently, it became a public limited company in 1974. It was promoted by P D Agarwal. S N Agarwal is the Chairman. The Company's main activities are transport services and aluminium extrusion. The company diversified into car rental service in 1989, to set up a separate division -- Wheels Rent-A-Car in collaboration with Hertz Internatioal, US. In 1991-92, the company formed Trans Corp International Bureau D'Exchange, for conducting the business of money changer. In 1993, the company took on lease, the plant of Bhoruka Aluminium for a period of three years, under the BIFR rehabilitation scheme. In May '94, the company came out with a Rs 12.71-cr public-cum-rights issue of 10.59 lac 15% redeemable PCDs of Rs 120 each, to part-finance the capital cost of acquiring ship, vehicles and other assets and also to meet long-term working capital requirements, etc, at a project cost of Rs 37.69 cr. The company is also into the field investments, finance, leasing, real estate, etc. TCIL has a collaboratiion with Hertz International, US. Chanderpal Investments, TCI Investments, Bhoruka Textiles, TCI Infrastructure Finance, Gati Corporation and TCI Industries are the subsidiaries of the company. TCI's issued and paid up capital has been reduced to Rs. 0.50 per equity share of Rs. 10/- each. The company has alloted 406109 equity shares on conversion of warrants of Rs.170/- each,to promoters and Associates of the Company on preferential basis.