Home  »  Company  »  Maral Overseas Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Maral Overseas Ltd. Company History and Annual Growth Details

1989 - The Company was incorporated on 27th January, and it obtained the
Certificate of Commencement of Business on 7th February. The
company was jointly promoted by Rajasthan Spinning & Weaving
Mills Limited and Hindustan Electro Graphites Ltd. belonging to
Bhilwara Group. The main objects of the company is to
manufacture of combed cotton hosiery yarn.

- The company is a 100% Export Oriented Spinning Mill with an
installed capacity of 20,160 spindles for the manufacture of
combed cotton yarn at village Khalbujurg in Khargone district of
Madhya Pradesh. The Company had incorporated the State-of-art
technology for the project and imported latest generation

- The Company undertook an expansion-cum-diversification scheme to
enhance the capacity and also to enter into the areas of knitted
fabrics and knitwears by installing 2,016 spindles, two for one
twisting machines and sophisticated knitting machines.

- The Company was also considering further expansion of its
spinning capacity by addition of 14,112 spindles based on coarse
and fine counts of yarn to complement the existing count-range.

1991 - 70 No. of equity shares allotted to the subscribers to the
Memorandum & Articles of Association. 133,59,930 No. of equity
shares of Rs 10 each then issued at par of which 84,09,930 shares
were reserved and allotted to promoters, directors, etc. Out of
the remaining 49,50,000 shares, 4,95,000 shares to shareholders
of HEG, Ltd. and Rajasthan Spg. & Wvg. Mills, Ltd. and 6,68,000
shares to employees/workers of the Company and those promoter
companies were reserved and allotted on a preferential basis.

- The balance 37,87,000 shares were offered to the public in Sept.
1991. Additional 20,04,000 shares were allotted to retain
oversubscription (12,61,500 shares to promoters, etc. 74,250
shares to shareholders of HEG, Ltd. & RSWML, 1,00,150 shares to
employees and 5,68,100 shares to the public).

1992 - The Company proposed to set up a dye house with a capacity of
dyeing and finishing 3 tons knitted fabric per day and a garment
division for production of 50,000 Polo-shirts and 1,00,000
T-shirts per month.

1993 - 35,00,000 No. of equity shares issued at a premium of Rs 60 per
share on private placement basis.

1994 - The knitting capacity was increased from 11 machines to 20
machines and another 9 machines were under installation.
Capacity in the garment division increased from 9 lakh pieces to
13.5 lakh pieces per annum.

- Letter of credit were opened for import of machinery for further
expansion of capacity to 19.5 lakhs pieces in the garment

1996 - The company concentrated on consolidation of its operations in
its spinning, knitting and garment making division. The Company
is chalked out an expansion programme to increase its spinning
capacity to 54528 spindles from existing 38400 spindles.

1997 - The Company undertook installation of finishing machinery for
open width fabric.

1998 - 15,00,000 Pref. shares issued.

1999 - The Asian Knitwears Limited was amalgamated with the company on
24th May. As per the scheme of amalgamation, members of the
erstwhile Asian Knitwears Ltd., were allotted equity shares in
the ratio of 80 No. of equity shares of Maral Overaseas Limited
for every 100 No. of equity shares held in Asian Knitwears Ltd.

- Suspened operations at Sarovar Unit as a consequence of violence, illegal go-slow and sabotage by workers at its manufacturing unit at Sarovar for the past few days.

-Maral Overseas declares lockout

-Maral Overseas Ltd has informed that on request of the company for voluntary delisting of its equity shares, the company has received communication from The Delhi Stock Exchange Association Limited (DSE) that the equity shares of the company have been delisted from the stock exchange (DSE) w.e.f. December 29, 2003.


-Delist equity shares from Madhya Pradesh Stock Exchange (MPSE) with effect from February 15, 2005.
Oct 24, 12:00 am
Oct 24, 4:14 pm
Subscribe now to get personal finance updates in your inbox!