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Mangalam Ventures Ltd. Company History and Annual Growth Details

1993 - The Company was incorporated on 27th April as a private limited
company and it was converted into a public limited company on
9th August, 1994. It was promoted by Sharat Jain.

- The main objective of the company is to manufacture grey knitted
fabrics and knitwear garments such as single jersey, double
jersey, interlock and rib fabrics in the first phase and
eventually undertake backward and forward integration.

- The company selected the state of the art German knitting
machines to produce fabric. M/s. Mayer & Cie Germany were to
supply the circular knitting machine.

- M/s Gherzi Eastern Ltd. (in association with gherzi organisation,
Zurich) prepared the techno economic feasibility report for
setting up knitting & garments unit of capacity 5 tonnes a day
for knitting and garments 1000 pieces a day.

1996 - During the year, the company commissioned its own dyeing &
finishing line.

1997 - 22,93,400 No. of equity shares of Rs. 10 each issued to
promoters. During January 1995, the Company issued 8,10,000
shares to promoters. Additional 3,200 shares were allotted to
retain oversubscription.

-Company name has been changed from Sonia Textiles Ltd to Mangalam Ventures Ltd.
Oct 26, 9:45 am
Oct 26, 9:54 am
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