- Out of the total shares issued 1,44,000 shares offered for public
subscription through a prospectus dated 21.11.1978.
1985 - With a view to modernisation, the Company installed 1 Murata Auto
Coner in replacement of old machines with the financial
assistance from IDBI.
- As a part of the expansion programme, the company added 1 Lakshmi
speed frame and 2 Lakshmi-Rieter ring frames during the year.
The installed capacity was raised to 9,120 spindles.
1986 - 1 Lakshmi-Rieter silver lap machine, 1 Lakshmi-Rieter ribbon lap
machine, 3 Lakshmi-Rieter combers, 2 Lakshmi-Rieter draw frames,
1 Lakshmi-Rieter ring frame and 1 RJK cone winder were added as
a part of its expansion programme.
1987 - The Lakshmi-Rieter ring frames, one card, two draw frames, one
comber and one cone winder were added as per Company's expansion
1993 - 2,40,000 bonus shares issued in propn. 1:1.
1994 - 9,60,000 bonus equity shares issued in propn. 2:1.
1995 - The overall working resulted in a loss due to unremunerative yarn
prices, hike in input costs and strike by workmen. The lock-out
was lifted effective 15th July, 1996.
- The company issued 14,40,000 rights equity shares of Rs 10 each
at a premium of Rs 10 per share and in proportion 1:1 (all were
taken up). Simultaneous to the above issue, the Company offered
6,20,000 shares through a prospectus as follows:
- 2,90,000 shares of Rs 10 each at a premium of Rs 60 per share on firm allotment basis as follows: (i) 80,000 shares to IDBI; (ii) 40,000 shares to Indian Overseas Bank; (iii) 40,000 shares to Apple Mutual Fund; (iv) 35,000 shares to GIC Mutual Fund; (v) 40,000 shares to Indian Bank Mutual Fund and (vi) 55,000 shares to NRIs/OCB. Balance 3,30,000 shares were issued to the public at a premium of Rs 5 per share (all were taken up).