1987 - The Company was incorporated on 13th March, as a Private Limited
Company under the name and style of Gravity Silk Mills Private
1994 - The Company was subsequently converted into a Public Limited
Company on 28th September, in terms of the special resolution
passed on 31st August, under the name and style of Gravity Silk
Mills Limited and was registered with the Registrar of Companies,
Maharashtra, at Mumbai.
- The Company started its manufacturing activities in Masat,
Silvassa, Union Territory of Dadra and Nagar Haveli in the year
1989 by setting up a project for the manufacture of grey fabrics
for suiting and shirting.
- The Company has issued bonus shares to the extent of 6,41,590 No.
of equity shares of Rs. 10/- each aggregating Rs. 64,15,900/- on
9th April, out of free reserves to the extent of Rs. 29,80,019/-,
capital reserves to the extent of Rs. 41,600/- and revaluation
reserves to the extent of Rs. 33,94,281/-.
1997 - The Company proposes to instal one Himson SCRAGG Draw Texturising
Machine with 216 Spindles (Indigeneous) in the existing factory
of the Company at village Masat, Silvassa, Union Territory of
Dadra and Nagar Haveli for a new project for manufacture of yarn.
- The Company had come out with a Public Issue for 30,01,300 No. of
Equity Shares as 10/- each at a premium of Rs.5/- per share
aggregating to Rs.450 lakhs. The Company has allotted 6,30,000
equity shares of Rs. 10/- each at a premium of Rs.5/- per share
to the promoters, friends and relatives.
2000 - At the EGM of the company, resolution regarding change in the
main object clause of the company and to insert object clause
regarding Information Technology business were passed.
- The Company is diversifying into the information technology field
by forming a subsidiary Gravity Infotech Ltd. The Subsidiary
company is setting up a unit at Mahape in Navi Mumbai.
- Gravity (India) Ltd., formerly known as Gravity Silk Mills Ltd., is all
set to launch a fabric portal by March 2001.
- The Company has taken up expansion-cum-diversification programme
at an capital outlay of Rs 10 crore.
-Gravity India enters into High-End Fabrics