1981 - The Company was incorporated on 2nd May as a Pvt. Ltd. Company in
the name of Shree Balaji Calendering Pvt. Ltd. Subsequently the
name of company was changed to Balaji Prints Ltd., on 25th
November 1982. It was converted into a public limited company
on 17th December 1982.
- The main object of the company is Weaving and processing of
textiles and synthetic fabrics and trading. The products of the
company are marketed under the brand name 'RAJKAMAL'.
1983 - During, the Company had set up a cotton-cum-synthetic textile
processing unit in MIDC Phase - I Industrial Area at Dombivli in
Thane was set up for processing, bleaching and calendering of
fabrics and sarees.
- 1030 No. of equity shares subscribed for by the promoters,
directors, their friends, etc. 2,43,970 shares were reserved and
allotted to promoters, directors, etc. The balance 1,50,000
shares were offered for public subscription during July. All
were taken up.
1985 - The company undertook to set up a processing house for synthetic
fabrics at Sachin, near Surat in Gujarat State with an installed
capacity of 25,000 mtrs. per day.
1986 - To augment its trading activities, the company had set up a
division under the name and style 'International Cloth Agency' at
Kalbadevi Road in Mumbai with effect from 1st April.
- The name of the company was changed to Rajkamal Synthetics Ltd.
- During December, the company issued 4,50,000 - 15%
non-convertible debentures of Rs. 100 each for Rs. 450 lakhs as
rights to equity shareholders in proportion 9 debentures : 5
equity shares out of which only 4,05,000 debentures were taken
up. These debentures are redeemable at a premium of 5% in five
equal annual instalments between 5 to 9 years from the date of
allotment. These debentures were allotted to 10th April, 1987.
- 19,10,000 No. of equity shares issued at par as rights in prop.
31:4. Another 95,000 No. of equity shares were offered at par to
employees (including Indian working directors) on an equitable
basis (All were taken up).
1987 - The second phase of its expansion programme, the company
installed most of the machinery and the unit was equipped with
latest generation of processing technology/machines for
production of cotton/synthetic fabrics.
- It was also proposed to set up a texturising unit at Silvassa, a
Centrally notified backward area in the Union Territory of Dadra
and Nagar Haveli.
1991 - Production, sales and profitability were affected due to the Gulf
crisis and increasing competition in the local market.
1992 - Production and profitability was affected due to the extensive
darna caused to the plant by cyclone in June, production loss due
to revamping of plant, communal riots and fire in the plant in
1993 - The company suspended manufacturing activity at its plant at
Suart since June.